The Biden and California confiscatory tax plan

 Epoch Times:

Combined Capital Gains Tax Rate in California to Hit 56.7 Percent Under Biden Plan

These punish the rich tax plans never produce more money for the government.  Most people who get rich are not stupid.  They will not sell assets in this environment and will hold onto them until the taxes are reduced or they will sell before the tax becomes effective.  What Biden is proposing looks like government greed that will backfire. 

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