The US presidential election between president Donald Trump and President Elect Joe Biden was a really heated one and citizen of the United States can say for a sure that the election was one in a kind, having a controversial president like Trump against another person. Well, I am not here to discuss who should have won and who should lose as the election is suppose to be the people's voice and although, there are lawsuits against the election, Joe Biden is regarded as the 46th president in the history of America.
Do not forget that when during Trumps tenure which isn't over yet, there were a lot of policies made and if Biden eventually wins the court hearings and becomes the 46th president of the United States, he would also be bringing out a few policies.
Income Tax:
During Joe Biden's speech, he said he will only be increasing taxes for people making over $400,000 annually. Trump reduced income tax, like the $39,000 to $84,000 from 25% to 22% during his time in office, while for high income earners, they were paying 39% before the Trumps administration but it was brought down to 37% during the Trumps administration. Joe Biden plans to increase the Tax for high income earners especially social security taxes.
Housing
Joe Biden is interested in home credits, although it is not certain how much the credit limit will be but Joe Biden wants to bring back the American dream of buying a home. This will surely be useful to real estate investors although, it could be detrimental to people who buy homes they can't afford.
Capital Gain
With this policy, Joe Biden wants to encourage investment for more than a year. It is uncertain the rates of capital gains tax reduction but Joe plans to work on capital gain policy.