IMPACT OF US' PLANS TO NEARLY DOUBLE CAPITAL GAINS TAX CLEARLY VISIBLE ON STOCK MARKETS

Highlights

• A report by Bloomberg stated that investors earning $1 million or more would have to pay a tax of 39.6 percent on any capital gains, which happens to be nearly double than the existing rate

• The report further said a separate surtax on investment income is likely to boost the overall federal tax for wealthy investors as high as 43.3 percent

As soon as there were reports of the President Joe....