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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 ...
A billionaire minimum tax on unrealized capital gains would apply to taxpayers whose net worth is above $100 million, as proposed by the most recent Biden-Harris administration’s budget proposal.
One of Vice President Kamala Harris' proposed tax plans is to implement an unrealized capital gains tax for individuals with net wealth above $100 million. ... be met with a 25% minimum tax rate ...
From 1954 to 1967, the maximum capital gains tax rate was 25%. [12] Capital gains tax rates were significantly increased in the 1969 and 1976 Tax Reform Acts. [11] In 1978, Congress eliminated the minimum tax on excluded gains and increased the exclusion to 60%, reducing the maximum rate to 28%. [11]
Under rules contained in the current Internal Revenue Code, real property is not subject to depreciation recapture. However, under IRC § 1(h)(1)(D), real property that has experienced a gain after providing a taxpayer with a depreciation deduction is subject to a 25% tax rate—10% higher than the usual rate for a capital gain.
The White House released a statement in March 2024 that President Joe Biden proposed a 25% minimum tax on the unrealized gains of people who own $100 million or more in assets. Were this to ...
However, Harris' capital-gains tax rate proposal does not break from a more controversial part of Biden's budget involving so-called unrealized capital gains. Biden proposed a new 25% tax on ...
Most recently, the Biden administration proposed an unrealized capital gains tax for those with a net worth of over $100 million. The proposal could affect more than 10,600 people in the US ...