Democratic Representatives Alexandria Ocasio-Cortez & Jan Schakowsky are working on legislation that would nearly double the top individual U.S. tax rate to 59% on the highest incomes.
The bill, which is still being drafted, also would increase capital gains rates to equalize them with income taxes and move to a so-called "mark-to-market system".
That would require individuals to pay taxes annually on the appreciation of their investments, real estate and business holdings.
The bill, which is still being drafted, also would increase capital gains rates to equalize them with income taxes and move to a so-called "mark-to-market system".
That would require individuals to pay taxes annually on the appreciation of their investments, real estate and business holdings.
Help FAIRtax Become The Number One Issue in 2021
Enacting the FAIRtax must be a prominent topic in these times. We did it before, we can do it again, but we need your help!