<img src="https://trc.taboola.com/1321591/log/3/unip?en=page_view" width="0" height="0" style="display:none">
Fact Check Library

Fact Check with Logically.

Download the Free App Today

partly true



Joe Biden wants to impose a 40% capital gains tax

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.

Democratic presidential candidate Joe Biden has proposed to increase the top tax rate to 39.6% on capital gains for the highest earners. That means Biden’s proposal would not affect the vast majority of people — 8.5% of Americans make more than $200,000 annually. According to the Internal Revenue Service, the capital gains tax rate "is no higher than 15% for most individuals."

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.

Have a question or correction?

Please tell us if you think this claim had been misjudged or requires correction by sending us evidence to support your error claim. We will revisit our evidence and verdict and do some additional research to double check if we can verify the new information

Fact Check of the Day


COVID-19 vaccines prevent infection in just 12 percent of those vaccinated.