Michael Seifert: Biden’s capital gains tax hike disincentivizes investors

Michael Seifert, founder and CEO of PublicSquare, says President Joe Biden’s proposed capital gains tax is twice as high as China’s. “As a reminder, capital gains are taxes on invested assets that you actually then sell for a profit,” he explains. “So you are, for all intents and purposes, you are disincentivizing any investors from placing capital into a business in order to help it grow because they know that 44.6% of whatever they gain they’re going to have to give back to the government.”