Kamala Harris and Joe Biden plan to tax unrealized gains.
The proposal believes that the tax would benefit the US economy.
CNBC hosts believe that the proposal is “unfair” and “unconstitutional.” T
Kamala Harris, the current vice president of the United States and the Democratic candidate for the 2024 presidential election, faced criticism over her plans to tax unrealized capital gains.
CNBC’s “Squawk Box” hosts, Rebecca Quick and Joe Kernen, were vocal in their opposition, calling the proposal ‘unfair’ and ‘unconstitutional.’
Bharat Ramamurti, one of the unofficial economic advisers to the Harris’ campaign, defended the Biden-Harris plan, but the hosts remained unconvinced. Quick compared the proposal to ‘pulling forward the taxes that would be paid later when someone sells the stock.’ Ramamurti responded:
“I think that this reaction to unrealized gains is a little funny, given that I bet that the majority of people watching right now are already paying a tax on unrealized gains. It’s called a property tax.”
According to a WSJ report, Harris backs Biden’s initiative to increase taxes, which includes a 25% levy on unrealized capital gains for …
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