Bloomberg | Sentiment on the Proposed Capital Gains Tax Hike
Bloomberg’s Suzanne Woolley, Devon Pendleton, and Max Abelson, featured insights from TIGER 21 Founder and Chairman Michael Sonnenfeldt who discussed the potential impact of Biden’s tax hike proposal.
When you raise taxes dramatically you create disincentives so that people hang on to assets longer than they might have to avoid a high capital gains tax,” he said. “That capital might have been better deployed in the next business that will create jobs. Bottom line is I’m still bullish on America’s potential and will want to invest in its future, but at the margin this will change some of the calculus as to where best to put those dollars.Michael Sonnenfeldt, TIGER 21 Founder & Chairman