Vice President Harris proposes a billionaire minimum tax on unrealized capital gains for persons worth over $100M to boost revenue for social programs.
Vice President Kamala Harris has proposed a billionaire minimum tax on unrealized capital gains, targeting individuals with net worths over $100 million. This tax, affecting less than 1% of taxpayers, aims to boost revenue for social programs like childcare assistance. Critics raise concerns about its potential impact on middle-class families and the administrative challenges for the IRS in tracking asset values annually. The proposal seeks to ensure the wealthy contribute fairly to tax revenues.
October 06, 2024
7 Articles