US President Biden budget proposes raising corporate tax to 28% (from 21%)

Also:

• calls for a 25% minimum tax on billionaires
• capital gains tax rate for investment to 39.6%, from 20%
• tax rate on incomes over 400K at 39.6

Those numbers crossing news wires. US equity indexes on Global going into vomit mode in 3, 2, 1 ...

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Biden’s budget request to Congress is slated to be released Thursday.

Those proposals have very little chance (basically zero) of passing Congress.

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