Biden has proposed to increase the capital gains tax to 39.6% for those making more than $1 million per year, and not on everyone.
The tax on capital gains under the Trump administration ranged from 15% to 20%, with other exceptions where capital gains were taxed at rates greater than 20% maximum up to 25%. Biden's plan has also asked for the individuals making more than one million dollars to pay the same rate on investment income that they do on their wages. He also hasn’t advocated raising taxes on Americans making less than $400,000 per year.
The rates are expected to be implemented only if Joe Biden wins the forthcoming elections and proves the majority.