Joe Biden Tax Scare Spooks US Market ASX expected to open lower

ASX Today – Joe Biden New Tax Scare Before The Morning Bell

ASX Australian Markets

After the US stock market finished the day lower, the Australian stock market is predicted to open lower. The ASX rose 0.8 percent to a three-day high yesterday.

Wall Street Spooked as new Joe Biden tax plan

Biden to propose nearly doubling capital gains tax for the rich | Business  and Economy News | Al Jazeera
Image taken from Aljazeera.com

The US Market took a dive lower as President Joe Biden had announced a new tax plan to potentially double the capital gains tax, more details below

  • President Joe Biden is set to lift the long-term capital gains tax, which includes a surtax, for the richest Americans to 43.4 percent. This is higher than the highest federal tax rate on wage profits.
  • Returns on assets kept in taxable accounts and sold for more than a year will be subject to the tax rate.
  • There are still a lot of unknowns, so financial analysts advise investors not to sell right away.

For detailed information Visit CNBC

Harassment Promise

Leading Australian companies have publicly committed to ending workplace sexual assault in the wake of a series of high-profile events that have sparked a national reckoning.

The Diversity Council Australia’s #IStandForRespect pledge has been signed by the CEOs of banks, law firms, mining companies, universities, and other organisations.

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