Kamala Harris has endorsed Biden's 2025 capital gains tax proposal which would raise long-term capital gains tax rates to 44.6%.
This would mark the highest long term capital gains tax rate since 1922.
The plan has also proposed a 25% tax on unrealized capital gains for wealthy individuals.
Libs -
Explain how this will benefit the economy?
Explain why you should pay 25% tax on a stock that has gone up, but you have not sold it, and may go down again before you sell it, and why you would only get to deduct $3000 per year of that loss even though you already paid a 25% on a gain that never went into a cash account?
This should be a doozey - I'll hang-up and listen...
This would mark the highest long term capital gains tax rate since 1922.
The plan has also proposed a 25% tax on unrealized capital gains for wealthy individuals.
Libs -
Explain how this will benefit the economy?
Explain why you should pay 25% tax on a stock that has gone up, but you have not sold it, and may go down again before you sell it, and why you would only get to deduct $3000 per year of that loss even though you already paid a 25% on a gain that never went into a cash account?
This should be a doozey - I'll hang-up and listen...
