In a response to growing outcry from young leftists who want to ‘eat the rich’ the Biden administration is reportedly working on creating a plan that taxes a person who sells a stock at a loss, aka capital loss. If you were holding a stock that was rapidly going down and you choose to exit your position, you will now be taxed for selling at a loss with this new proposed plan.
Although what exact rate you’d be taxed at is unclear. This proposed bag has mixed reactions. Some economists are saying this is ‘the dumbest fucking idea ever proposed by an administration’ but some WSB users are actually a fan of the idea.