Inflation-adjusted amounts in the tax code are expected to increase by 2.8% from the 2024 numbers—about half the increase that taxpayers saw in previous years. This adjustment may have significant implications for investors, particularly those with substantial capital gains.
A tax proposal embraced by Vice President Kamala Harris that's meant to target the wealthy is getting attention in an unlikely place for its potential impact on the economy. The proposal includes a 28% tax on long-term capital gains for top earners, a significant increase from the current rate.
Learn more about the VP Kamala Harris unrealized capital gains tax proposal, otherwise known as the Harris billionaire minimum tax. This proposal aims to ensure that the wealthiest individuals pay their fair share of taxes on their investment gains.
Vice President Kamala Harris last week proposed a 28% tax on long-term capital gains for top earners. Here's how that compares with historic tax rates and what it could mean for high-income individuals.
If the plan were to be enacted, folks like Elon Musk, Mark Zuckerberg, and Jeff Bezos could be writing one-time checks for tens of billions. The proposed tax rate would have a significant impact on some of the wealthiest individuals in the country.
New analysis from Tax Foundation experts find that the proposed Kamala Harris capital gains tax rate would be the highest for many since 1978. This could have implications for investment strategies and financial planning for high-income individuals.
Kamala Harris proposed a 28% tax on long-term capital gains for households making more than $1 million. Here's what financial advisors are saying about the potential impact on their clients and investment portfolios.
Vice President Harris has proposed increasing the Federal income tax rate on long-term capital gains to 28% for taxpayers making over a certain threshold. This could have implications for high-income individuals and their investment strategies.
