Solutions For RealSolutions For Real
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

5 Things To Ask Aging Parents About Emergency Evacuations

June 21, 2025

A 16-Billion Password Leak Just Hit. Are You at Risk?

June 21, 2025

30 Best Stay-at-Home Jobs for Moms and Dads

June 21, 2025
Facebook Twitter Instagram
Trending
  • 5 Things To Ask Aging Parents About Emergency Evacuations
  • A 16-Billion Password Leak Just Hit. Are You at Risk?
  • 30 Best Stay-at-Home Jobs for Moms and Dads
  • Americans face vastly different retirement costs across states as Social Security cuts loom
  • The Best Defense Against Uncertainty Isn’t a Single Strategy — It’s a Mindset
  • Highly Profitable Corporations Amass Trillions In Cash And Pay Out Trillions In Dividends
  • Here’s What Will Happen When Social Security and Medicare Funds Run Dry
  • 10 Recession-Proof Jobs That Can Withstand a Downturn
Saturday, June 21
Facebook Twitter Instagram
Solutions For RealSolutions For Real
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
Solutions For RealSolutions For Real
Home » Harris unveils plan for 28% capital gains tax, softening Biden’s proposal for 40% rate
News

Harris unveils plan for 28% capital gains tax, softening Biden’s proposal for 40% rate

News RoomBy News RoomSeptember 5, 20240 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

Vice President Kamala Harris on Wednesday proposed a 28% tax on long-term capital gains for households with an annual income of $1 million or more, lower than the 39.6% rate President Joe Biden laid out in his 2025 fiscal year budget.

“We will tax capital gains at a rate that rewards investment in America’s innovators, founders and small businesses,” the Democratic presidential nominee said at a rally in North Hampton, New Hampshire. The Wall Street Journal was first to report Harris’ capital gains tax plan.

Long-term capital gains, or assets held for more than one year, are currently taxed at a maximum rate of 20%.

Harris’ announcement marks a rare divergence from Biden’s economic platform.

The newly minted Democratic presidential nominee has so far largely kept her economic proposals in line with those of her current boss.

Harris has adopted much of the president’s aggressive rhetoric toward big corporations and had previously endorsed his proposed budget’s tax increases as a way to pay for her spending plans.

But some pieces of that corporate pressure campaign have received pushback, including from within the Democratic Party.

“I don’t think a blanket tax on unrealized gains is a good thing,” Rep. Ro Khanna, D-Ca., said in an interview Wednesday with CNBC’s “Squawk Box.”

Khanna’s comment referred to taxing the potential gains that an asset accumulates before it is sold, which Biden supports. Harris has not announced any plans to diverge from Biden’s proposal, which would tax unrealized gains for households worth at least $100 million.

Khanna cited potential unintended consequences for startup entrepreneurs that could stifle business growth.

Read more CNBC politics coverage

Over the past several weeks, Harris has worked to simultaneously position herself as a friendly face to business but also a warrior against corporate greed and a champion of the middle class.

As Harris makes her economic pitch, her Republican opponent, former President Donald Trump, has railed against her record and painted himself as the best candidate for the U.S. economy.

“Trump cash versus Kamala crash. We’re going to have a crash like 1929 if she gets in. It will not be pretty,” Trump said in a video posted to Truth Social during Harris’ New Hampshire rally Wednesday.

To counter those attacks, Harris has been presenting more plans specifically targeted at helping businesses, especially ahead of the Sept. 10 debate against Trump, hosted by ABC News.

Harris also announced Wednesday a new proposal to provide small businesses a $50,000 tax deduction for their startup expenses, 10 times the amount of the current level.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

Lucid shares tumble following public offering of nearly 262.5 million shares

News October 17, 2024

Harris distances herself from Biden, bashes Trump in tense Fox News interview

News October 17, 2024

Alibaba’s international arm says its new AI translation tool beats Google and ChatGPT

News October 16, 2024

I bought a $54,000 abandoned house in Japan and turned it into a luxury Airbnb—take a look inside

News October 16, 2024

Trump’s crypto coin goes on sale with Election Day just three weeks out

News October 15, 2024

Cramer’s Lightning Round: Uranium Energy is ‘the real deal’

News October 15, 2024
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

A 16-Billion Password Leak Just Hit. Are You at Risk?

June 21, 20250 Views

30 Best Stay-at-Home Jobs for Moms and Dads

June 21, 20250 Views

Americans face vastly different retirement costs across states as Social Security cuts loom

June 21, 20250 Views

The Best Defense Against Uncertainty Isn’t a Single Strategy — It’s a Mindset

June 21, 20250 Views
Don't Miss

Highly Profitable Corporations Amass Trillions In Cash And Pay Out Trillions In Dividends

By News RoomJune 20, 2025

Nonfinancial corporations continue to do very well. Recent data from the Federal Reserve, specifically its…

Here’s What Will Happen When Social Security and Medicare Funds Run Dry

June 20, 2025

10 Recession-Proof Jobs That Can Withstand a Downturn

June 20, 2025

How Building Gaming Tech Led Us to a Business Breakthrough

June 20, 2025
About Us
About Us

Your number 1 source for the latest finance, making money, saving money and budgeting. follow us now to get the news that matters to you.

We're accepting new partnerships right now.

Email Us: [email protected]

Our Picks

5 Things To Ask Aging Parents About Emergency Evacuations

June 21, 2025

A 16-Billion Password Leak Just Hit. Are You at Risk?

June 21, 2025

30 Best Stay-at-Home Jobs for Moms and Dads

June 21, 2025
Most Popular

15 Best Paid Survey Sites For Kids

December 12, 20231 Views

5 Things To Ask Aging Parents About Emergency Evacuations

June 21, 20250 Views

A 16-Billion Password Leak Just Hit. Are You at Risk?

June 21, 20250 Views
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 Solutions For Real. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.