Biden Calls for Record-High Tax Rate

By Daniel Walker | April 27, 2024

Familiar confrontation

President Joe Biden's proposed budget for fiscal year 2025 has reignited the debate, particularly concerning the potential historic high of 44.6 percent for the top capital gains and qualified dividends tax rate. 

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This has sparked a familiar confrontation between those opposing the increase from a conservative or libertarian standpoint and liberal voices advocating for billionaires to contribute their "fair share."

Biden's budget

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Individuals who experienced the 1980s may sympathize with those who did not, as Biden's budget appears to transport us back to that era of debate and contention.