What's Capital Gains Tax? - It's a tax on profits from selling valuable things like stocks or property.
Biden wants to raise this tax for wealthy people who earn over $1 million a year and have investment income over $400,000.
They could pay up to 44.6% in taxes, the highest ever in the US. In India, it's lower, ranging from 10% to 32%.
For and Against - Supporters say Biden's plan will make the rich pay their fair share and boost the economy by $5 trillion in 10 years
Opponents worry it could hurt the economy, leading to lower GDP, wages, and jobs. They also think it'll make taxes more complicated.
Other Tax Changes - Biden also wants to increase corporate taxes, impose new taxes on very rich people, and change inheritance tax rules. Inheritance tax could go up to 60-80%.
Impact on Businesses - Many businesses are worried, especially in an election year.
Republicans say the tax hikes could hurt small businesses and innovation, and even cause a recession if people have less money to spend.
In short, Biden's plan would make rich people and big businesses pay more in taxes, but there's debate over whether it'll help or hurt the economy in the long run.