President Obama’s proposed 2016 budget calls for increasing the capital gains tax to 28%. The current administration has tried to eliminate tax breaks for big earners in the past and has also tried to implement the “Buffett Rule” that calls for a minimum federal tax rate of 30% for the wealthy.
The 2016 budget plan requests those same things and Obama also wants to raise the capital gains tax, as well as tax inherited wealth at a higher rate on a sliding scale. All of these proposed changes would raise about $200 billion over the next decade.
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