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Under the Harris/Biden proposal, all households with more than $100 million in net assets would pay a minimum tax of 25% on their combined income and unrealized capital gains. This would most ...
One of Vice President Kamala Harris' proposed tax plans is to implement an unrealized capital gains tax for individuals with net wealth above $100 million. With the United States reportedly being ...
Hence, even after paying the min-tax, the rich person would get pounded by an additional tax of 14.6% on the sale (the difference between the 25% min-tax and the 39.6% that the Green Book advocates).
However, Harris' capital-gains tax rate proposal does not break from a more controversial part of Biden's budget involving so-called unrealized capital gains. Biden proposed a new 25% tax on ...
[198] [199] Harris has stated she supports increasing the top tier capital gains tax rate to 28%, up from 20% and lower than Biden's proposed 39.6%. Harris has stated her support for a Billionaire Minimum Income Tax, increasing the tax on stock buybacks to 4%, and a ten-fold tax reduction for small business ranging from $5,000 to $50,000 in ...
"A few weeks ago, I started pointing out that Kamala Harris wants to tax *unrealized* capital gains," he wrote in the post on X. "The main objection I heard was 'she’ll never actually do this.'
The proposal would impose a minimum 25% tax on a combination of income and unrealized capital gains, according to The New York Times. But the targeted nature of the proposed tax is critical ...
A billionaire minimum tax on unrealized capital gains would apply to taxpayers whose net worth is above $100 million, as proposed by the most recent Biden-Harris administration’s budget proposal.