🚨 Harris tax plan exposed: cryptocurrency investors take note!
Hello everyone, today we focus on a topic that could have a significant impact on cryptocurrency investors, that is Kamala Harris' tax plan.
There have been recent rumors that if Harris is elected president, she may introduce an unrealized capital gains tax, which has caused many people to worry about their cryptocurrency gains. Let's see what's going on?
First of all, Harris's campaign team did say that she would support Biden's proposal to increase taxes on the rich, which does mention a 25% tax on unrealized capital gains. However, this tax is not for everyone, but mainly for the super-rich with annual income or wealth exceeding $100 million.
According to Semafor, CRFB Senior Vice President Marc Goldwein also pointed out that Harris' plan does not specifically mention this tax. Moreover, the minimum 25% tax mentioned in Biden's budget proposal usually includes unrealized capital gains, but this only applies to the richest Americans.
So, in response to the cryptocurrency influencers who spread panic online, Adam Cochran, partner at Cinneamhain Ventures, responded on X: "They didn't comment on the introduction of an unrealized gains tax, so she doesn't agree with the 'unrealized gains tax', and even if she does, your meager income is not enough for the tax to affect you."
However, even if this tax is only for the super-rich, some commentators are worried that any form of unrealized gains tax may cause damage to the national economy. Internet celebrity Farzad Mesbahi said that if most stock market participants decide to sell all their stocks, then we little people are completely finished.
Casa co-founder Jameson Lopp also criticized the view that this tax only applies to the super-rich. He said on X that income tax was originally only for those in the top 3%, but then it was universal. It indicates that this may just be a prelude to universal taxation.
🤔 What do you think of Harris's tax plan? What impact do you think this plan will have on the cryptocurrency market if it is actually implemented?Share your views in the comments!
