Comments by "dlukton" (@dlukton) on "Biden’s Capital Gains Tax Rate to Test World’s Highest" video.

  1. The current Congress is not going to pass any big tax increases on capital gains. Part of the reason for that is that the Democrats are very divided on what to do about the "SALT" deductions. Most Democrats in the House & Senate want to leave the SALT deduction where it is ($10,000 for married couple, $5,000 for an individual); but there are a sufficient number of Democrats who want to eliminate the cap on SALT deductions... such that they can block any tax increase that doesn't include an elimination of the cap. And so I think the end result will be one of the following: (a) no increase at all in capital gains tax or income tax, or (b) a very small increase in taxes on income or capital gains... accompanied by a raising of the cap on SALT deductions. So nothing dramatic will happen.... before the 2022 midterm election.... on capital gains taxes or on individual income taxes.
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