Biden’s top tax rate on capital gains, dividends would be among highest in developed world

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CNBC: The U.S. would tax capital gains and dividends for the rich at among the highest rates in the developed world if President Joe Biden’s proposal was enacted.

The top rate high-earning Americans pay on dividends and the sale of appreciated assets would jump to nearly 49%, when combining all federal and state taxes, according to the Tax Foundation.

Ireland is the only other developed nation to levy a higher tax on investment income – 51% on dividends. But when it comes to capital gains, the U.S. would claim the highest top rate, according to Tax Foundation data.

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