Wealthy Americans Taking Action to Protect Portfolios Ahead of Biden’s Tax Hikes

Wealthy Americans Taking Action to Protect Portfolios Ahead of Biden’s Tax Hikes
President Joe Biden speaks at a press conference in Washington, on Oct. 08, 2021 Chip Somodevilla/Getty Images
Tom Ozimek
Updated:
A new survey published by UBS Global Wealth Management found that a significant proportion of U.S. investors with at least $1 million in assets are taking action to get ahead of the tax changes proposed by the Biden administration as “their optimism in the economy wavers due to concerns about politics, potential tax increases, national debt, and inflation.”
“Investors would like to get ahead of potential changes by making adjustments to their portfolios,” UBS said in the survey (pdf), noting that 40 percent said that, due to potential tax changes, they’re thinking about shifting assets that aren’t generating profits.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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