CULTURE: Chamath Reacts to Biden’s Capital Gains Tax Raise

Posted on 04/26/2021

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Social Capital CEO Chamath Palihapitiya tweeted on April 26, 2021, “Reacting to Biden’s proposal, here is a modification, tax rate indexed to holding period:

Less than 1yr: 75%
1-2yr: 35%
2-3yr: 25%
3-5yr: 15%
5-10yr: 10%
10yr+: 0%

US Gov’t would maximize tax revs where most selling occurs AND incentivize long term holders to keep it up…”