'Beyond Insane': Economists slam Biden-Harris proposal to tax unrealized investment returns
Fox News
The Harris campaign has indicated that it supports a proposal put forth by President Joe Biden to tax people for their projected investment returns.
Meanwhile, the Harris-Walz campaign reportedly told Marc Goldwein, vice president of the Committee for a Responsible Budget, that it supports all tax increases on high earners proposed by President Joe Biden.
"The proposal would impose a minimum tax of 25% on total income, generally inclusive of unrealized capital gains, for all taxpayers with wealth (that is, the difference obtained by subtracting liabilities from assets) greater than $100 million," the Treasury Department stated in its FY25 revenue proposals. The same proposal was also put forth by the Biden-Harris administration in fiscal year 2024 and in fiscal year 2023, but the minimum taxable amount was 20%.