Reported about 2 months ago
Kamala Harris has unveiled a major policy proposal to implement a tax on unrealized capital gains, particularly targeting households with net assets over $100 million. This 'wealth tax' would require these households to pay an annual minimum tax of 25% based on their combined income and the unrealized appreciation of their assets. The plan aims to address tax avoidance practices that allow wealthy individuals to benefit from untaxed assets, although it raises concerns about the potential tax on gains that may never be realized, leading to significant implications for long-term investments.
Source: YAHOO