In a notable policy shift, Democratic presidential nominee, Vice President Kamala Harris, has proposed a 28% capital gains tax rate for some individuals as part of her economic plan. This move represents a departure from President Joe Biden's proposed higher capital gains tax rate increase in his annual budget.
The proposed increase in the capital gains tax rate is aimed at wealthy Americans, specifically targeting individuals earning $1 million or more. Vice President Harris argues that this measure is necessary to ensure that the wealthiest individuals pay their fair share in taxes and contribute to funding important government programs.
In a break with President Joe Biden, Democratic presidential candidate Kamala Harris called Wednesday for a smaller capital gains tax rate increase. Her proposal of a 28% tax rate on capital gains for high-income earners is seen as a more moderate approach compared to Biden's plan.
WASHINGTON—Democratic presidential nominee Kamala Harris proposed a less drastic increase in the top capital gains tax rate on Wednesday, signaling a more moderate stance on tax policy. The proposed 28% rate for wealthy Americans is part of Harris's broader economic agenda aimed at addressing income inequality.
Vice President Kamala Harris proposed increasing the long-term capital gains tax rate to 28% for wealthy Americans during an economic speech. This move is expected to generate additional revenue that could be used to fund social programs and infrastructure projects.
Vice President Kamala Harris called for a 28% capital gains tax rate on people earning $1 million or more, touting it as a measure that would promote tax fairness and help reduce income inequality. The proposed tax increase is part of Harris's efforts to address economic disparities in the country.
Learn more about the VP Kamala Harris unrealized capital gains tax proposal, otherwise known as the Harris billionaire minimum tax. This proposal is aimed at ensuring that wealthy individuals pay taxes on the appreciation of their assets, even if they have not sold them.
Democratic presidential candidate Kamala Harris has proposed raising the capital gains tax rate for those earning $1 million or more to 28 percent, as part of her economic plan. The proposed tax increase is intended to generate additional revenue from the wealthiest individuals.
Vice President Kamala Harris has unveiled a new economic proposal aimed at taxing wealthy Americans. The plan would impose a 28% long-term capital gains tax rate on high-income earners, as part of Harris's efforts to address income inequality and fund government programs.
