Kamala Harris Proposes 25% Tax on Unrealized Gains, Potentially Raising Capital Gains to 44.6%

Aug 20, 2024, 10:34 PM

Kamala Harris has proposed a tax on unrealized capital gains, which would impose a 25% tax on the increase in value of assets like stocks and cryptocurrencies, even if they have not been sold. This proposal has sparked significant controversy and criticism, with opponents arguing it could discourage investment and harm the economy. Critics also highlight that this tax could impact those with limited liquidity, as they would be required to pay taxes on gains they have not realized. Additionally, there are concerns about the impact on the innovation economy and the potential for increased capital gains tax rates from 25% to 44.6%.