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The White House released a statement in March 2024 that President Joe Biden proposed a 25% minimum tax on the unrealized gains of people who own $100 million or more in assets. Were this to ...
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.
While Biden proposed to move the long-term capital-gains tax rate to 39.6% for households with taxable income of more than $1 million, Harris says that's too high and has proposed raising it to 28 ...
With the United States reportedly being home to 37% of the world’s millionaires, around 10,000 wealthy individuals could be met with a 25% minimum tax rate on income over $100 million, including ...
Most recently, the Biden administration proposed an unrealized capital gains tax for those with a net worth of over $100 million. The proposal could affect more than 10,600 people in the US ...
The proposal backed by Harris would only apply to a narrow — and very wealthy — slice of the population: people whose net worth is at least $100 million. That's about 10,660 people in the U.S ...
If the Biden-Harris proposal becomes law, Harry gets an immediate tax hit of $22.5 million (the 25% minimum rate times the $90 million cap gain). At the end of year one, his “cost basis” would ...
Harris has proposed a long-term capital gains tax rate of 28% for those earning $1 million or more, which contrasts with Biden's 39.6% rate suggested in his fiscal 2025 budget.