Biden Plans to Nearly Double Capital Gains Tax for Wealthy

The transcript discusses the political challenges of increasing taxes on the wealthy, particularly the lack of Republican support for such measures. It highlights the potential for global cooperation on tax issues, referencing past tax evasion scandals like the Panama Papers. The discussion also covers the impact of tax changes on high-tax states like New York and California, focusing on the SALT cap and its implications for Democratic negotiations.

In what ways have governments attempted to address tax evasion by individuals, as mentioned in the text?

What are the implications of a combined state and Federal Capital gains tax rate exceeding 50% for residents in high tax states?