quote:

Originally posted by Slider:
Kamala Harris is demanding that Americans give up to nearly half the profits, or capital gains, on their house if they decide to sell it. The endorsement of the policy comes after Harris has been hit on other economic issues such as price controls and inflation.

According to the Wall Street Journal, Harris endorsed Joe Biden's Fiscal Year 2025 budget proposal this week. Many have sounded the alarms on the proposal, as it allows for up to a 44.6 percent tax rate on long-term capital gains if other proposed tax increases are implemented. Any asset that is held for over a year and sold for a gain can be considered to be taxable as a long-term capital gain.

quote:

Originally posted by Slider:
Kamala Harris is demanding that Americans give up to nearly half the profits, or capital gains, on their house if they decide to sell it. The endorsement of the policy comes after Harris has been hit on other economic issues such as price controls and inflation.

According to the Wall Street Journal, Harris endorsed Joe Biden's Fiscal Year 2025 budget proposal this week. Many have sounded the alarms on the proposal, as it allows for up to a 44.6 percent tax rate on long-term capital gains if other proposed tax increases are implemented. Any asset that is held for over a year and sold for a gain can be considered to be taxable as a long-term capital gain.