According to PANews, Bharat Rama, economic adviser to US Vice President Kamala Harris, confirmed that Harris plans to impose an unrealized capital gains tax of at least 25% on individuals with assets of at least $100 million.
Rama claimed people already pay taxes on unrealized gains, such as property taxes, but the CNBC host disputed that, pointing out that home values don’t move the same way as stocks and that property taxes are a “use tax.”
In addition, according to Wall Street Journal, currently, capital gains tax in the United States is only levied when assets are sold, and income tax is exempt when an individual dies.
