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Rich Investors Will Be Fine If Biden Hikes Taxes, UBS Says (1)

July 30, 2020, 6:32 PM

With Joe Biden leading President Donald Trump in the polls, some investors are concerned the age of corporate tax cuts and deregulation may soon end, replaced by a Democratic administration eager to soak the rich.

Those fears are unfounded, according to UBS Group AG.

While Biden has proposed tax increases on high-income individuals and corporations, such hikes would be offset by massive spending packages targeted at accelerating the country’s recovery from the coronavirus, the investment bank said.

And unlike in 2008, banks aren’t seen as the bad guys in today’s crisis -- meaning a Biden administration would likely refrain ...

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