Another Economic Blunder: Capital Gains Tax Hike Harms Workers’ Retirement Plans, Investment

April 23, 2021 — Blog    — In Case You Missed It...    — Select Revenue Measures    — The Tax Tracker   

As news broke that Democrats are looking to nearly double the capital gains tax, the stock market was sent into a nosedive.

“Raising the capital gains rate is another economic blunder by the Biden Administration,” warned Ways and Means Republican Leader Kevin Brady (R-TX). “This will punish Americans for investing in local businesses or in the U.S. economy.”

Republican tax reform raised wages for blue-collar workers, brought back jobs from overseas, and empowered millions of Americans with economic freedom.

Hiking the capital gains tax will drive away main street investment, and result in lower wages and fewer jobs, and tank workers’ retirement plans.

KEY TAKEAWAYS:

  • Hiking capital gains tax will punish Americans who invest in local businesses and job creators.
  • By punishing these investments, Democrats are harming blue-collar workers’ retirement plans.
  • Democrats are dead set on reversing the gains achieved under Republican tax reform.
  • Hiking taxes on the American people to pay for Democrats’ wasteful, socialist spending spree will stifle our country’s recovery. 

WATCH: Brady Calls Biden Tax Hikes an “Economic Blunder”

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