Biden plan to double capital-gains taxes will hurt economy to fuel giveaways to Dem special interests

President Joe Biden has already vowed to slam the recovering US economy by hiking taxes on higher earners and raising corporate tax rates. Now comes news he wants to double the capital-gains tax rate —  to drop yet more cash on Democratic special interests and fund a huge expansion of government.

This, on top of the trillions in outlays he’s already proposed. Next week, Biden will officially release plans to tax capital gains as ordinary income for those making over $1 million. He also wants to raise the top tax rate from 37 percent to 39.6 percent, so that’s basically doubling these people’s cap-gains rate from the current 20 percent.