Goldman Sachs say that a 'moderated version' is more likely, citing 'razor-thin majorities in the House and Senate'
- A 28% rate looks most likely, in our view, as it is roughly halfway between the current rate and Biden's .
GS adds
- unlikely to apply to gains realized before May
- an increase effective January 1 2022 is more likely
Capital gains tax talk was all the rage in US markets on Thursday .... but it did take some time
- The market freaks out about a capital gains story that was out hours ago
- The real question on a capital gains hike is whether it's retroactive
Sorta like that time BTC plunged on a China power outage ... a week after it happened ;-)
