Biden's tax plan is going to cost me millions'and that's OK

Published May 03 2021 at 7:00 AM GMT
Key
Points
  • This is going to cost me a lot of money.
  • President Joe Biden’s newly proposed tax rates would overwhelmingly increase taxes on someone like me—a venture capitalist for whom the capital gains rate is really, really important.
  • Even though Biden’s plan will take a lot more of my income and offer little tangible benefit to me in return, I still think he’s right.
  • But it’s also clear that people in my tax bracket have more money than we reasonably need, and that life is just way too hard for far too many others.
  • You can make valid arguments against the efficacy of the Biden plan itself.




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  • Published May 3, 2021 7:00 AM GMT