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The current long-term capital gains tax rate – 20%, plus an additional 3.8% tax on higher earners – is paid when an investment is sold, or gains are realized. ... Under Biden’s budget ...
Harris called for a 28% capital-gains tax rate for Americans who earn at least $1 million, lower than Biden's proposed 39.6% top rate on capital gains − the profits an investor makes from ...
Vice President and Democratic presidential nominee Kamala Harris on Wednesday unveiled a vastly expanded $50,000 tax benefit for new small businesses and a lower long-term capital gains tax than ...
From 1998 through 2017, tax law keyed the tax rate for long-term capital gains to the taxpayer's tax bracket for ordinary income, and set forth a lower rate for the capital gains. (Short-term capital gains have been taxed at the same rate as ordinary income for this entire period.) [ 16 ] This approach was dropped by the Tax Cuts and Jobs Act ...
Tobias Burns. September 4, 2024 at 1:26 PM. Vice President Harris made a policy break from President Biden on Wednesday by calling for a lower tax increase on capital gains than what the president ...
Biden had proposed making those capital gains — at least for households making over $1 million a year — in line with the current top tax rate on wages. That rate is currently 37% but could ...
Under the Harris/Biden proposal, all households with more than $100 million in net assets would pay a minimum tax of 25% on their combined income and unrealized capital gains. This would most ...
Under Biden’s proposal, the top long-term capital gains and qualified dividends tax rate would increase to 39.6% from 23.8%, with an effective rate of 43.4% when the Medicare surcharge is added.