Vice President Kamala Harris called Wednesday for higher taxes on big-dollar investments like real estate and stocks during an appearance in New Hampshire — while floating plans for more deductions for small businesses.
“If you earn a million dollars a year or more, the tax rate on your long-term capital gains will be 28% under my plan,” Harris told supporters in North Hampton, “because we know when the government encourages investment, it leads to broad-based economic growth and it creates jobs.”
The top capital gains tax rate currently is 20% — meaning the Democratic presidential nominee’s proposal amounts to a sizable hike for people who sell land or other holdings that have appreciated significantly in value.
Read more at https://nypost.com/2024/09/04/us-news/harris-calls-for-higher-taxes-on-investment-income-but-less-than-biden-wanted/
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