BetterWealth with Caleb Guilliams
What You NEED To Know About Kamala's NEW Tax Plan: Unrealized Capital Gains Tax Explained
Aug 28, 2024
Kamala Harris, the Vice President of the United States, dives into her controversial unrealized capital gains tax plan and its potential risks for the economy. The discussion highlights how this tax could push the wealthy to liquidate assets, threatening market stability. The guests critique the political complexities surrounding the proposal, including its impact on personal and corporate wealth. They also emphasize the need for deeper dialogue on economic policies and the importance of free speech in enhancing public understanding.
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Quick takeaways
- The proposed unrealized capital gains tax could force investors to sell assets to cover tax liabilities, negatively impacting market stability.
- Bipartisan accountability among politicians is crucial to prevent harmful economic policies from gaining traction and to protect citizens' welfare.
Deep dives
Understanding Unrealized Capital Gains
Unrealized capital gains refer to the increase in value of assets that have not yet been sold, meaning the profits are not yet realized in cash. This concept is a central part of a proposed tax plan, which suggests taxing these gains, leading to significant implications for investors. For instance, if an individual's portfolio increases in value but they have not sold any assets, they may still be liable for taxes based on the unrealized gains. This taxation could force individuals, like high-profile investors, to sell off portions of their assets to cover tax obligations, which may adversely affect overall market prices.
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