Indian Market
🇺🇸 President Biden proposes a 44.6% capital gains tax, the highest in history.
The proposal also includes a 25% tax on unrealized gains for high-net-worth individuals.
Indian markets - be prepared for the biggest rally of the decade 🔥🔥🔥🔥
HUGE POSITIVE FOR INDIAN MARKET
Can you explain why this is good for indian markets? If an American HNI invests in the Indian market, he will still have to pay capital gain/unrealised gain tax on it as he is citizen there. What's the incentive for new influx of capital in our market. The HNIs will start leaving America is what seems to be a logical conclusion here. Please enlighten me if I am missing something here.
Hits the top 1%, would need a similar thing for 0.1% in India. Also an estate tax like in USA would be a good thing in India(estate tax as of the 2023 tax year applies only on the value of an estate that exceeds $12.92 million).