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President Joe Biden issued a budget proposal Friday that called for a 39.6% top capital gains tax rate, in line with what had been previously proposed.
"I think you should be able to become a billionaire or a millionaire," Biden told Congress on Wednesday night in a speech outlining his agenda. "But pay your fair share." The richest 1% of taxpayers, who have an average income of $2.2 million, would shoulder the burden of the tax hike, according to an analysis published by the Institute on Taxation and Economic Policy. Two-thirds of this group would see their taxes increase, by an average $159,000 a year, according to the analysis. Of course, the proposal faces headwinds in Congress. Passage isn't guaranteed and parts of the plan may change. ...
For 2017. >> gotcha. okay. david herzig, thank you. still ahead, there are a few people and animals who have found a way to have fun in the record breaking snow in eery pennsylvania but the cold is maki making us miserable for a lot of us. take a look at how long it will last. (matthew) my wish was a clubhouse, but we call it "the wish house". (mom) and it just immediately brought something positive in our life. "oh, i gotta get up get matthew on his treatment." (matthew) it's not that bad, though. (mom) yeah. (matthew) the good thing about the surgeries is i get to have a popsicle at the en...