Kamala Harris Proposes 25% Tax on Unrealized Gains, Including 401k

Aug 20, 2024, 10:37 PM

Kamala Harris has proposed a 25% tax on unrealized capital gains, which has sparked significant controversy and debate. This tax would apply to the increase in value of assets such as stocks, cryptocurrencies, and 401k accounts, even if they are not sold. Critics argue that this policy could disincentivize investment and harm the financial well-being of individuals by taxing potential profits that have not been realized. The proposal has been described as unconstitutional and akin to theft by some commentators. There is also skepticism about the feasibility of implementing such a tax, with some suggesting it would be unlikely to pass.