BIDEN TERROR: in the third quarter, an explosion in company sales to avoid taxes for the Democratic candidate
The chances of the changing of the guard in the White House are felt and entrepreneurs begin to take the first, necessary, countermeasures. Joe Biden foresees a tax reform that would increase the maximum rate for the taxation of capital gains, bringing it from the current 20% (23.8% when taking into account the additional ACA tax of 3.8%, wanted to cover Obamacare) up to 39.6%, for those earning over $ 1 million or for proceeds from a business sale of over $ 1 million. A 60% increase in the rate, or 19.6% from the tax base, which changed the attitude and decisions of corporate CEOs and CFOs.
The result is simple: investment banks and consultants are informing, and adequately frightening their customers who have invested in start-ups or financial initiatives that are not, for them, "Typical of a company", to ensure that they hurry up. to sell their company shares now, in 2020, before the new president eventually takes over. This strategy appears to be taking effect: According to Dealogic, U.S. private company share sales totaled a record $ 253 billion in Q3 2020, five times more than Q2 and a 51% increase from Q3 2019. Nonetheless, the COVID-19 pandemic has suppressed the ability to make correct company assessments for some sectors, such as, for example, the restaurant business.
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The article TERROR OF BIDEN: in the third quarter, explosion of company sales to avoid taxes of the Democratic candidate comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/terrore-di-biden-nel-terzo-trimestre-esplosione-delle-cessioni-aziendali-per-evitare-le-tasse-del-candato-democratico/ on Thu, 22 Oct 2020 17:15:43 +0000.