Crowcrick - 9/19/2024 15:01
First things first you have to have made 100 million on the year
Second you have to have paid less in income taxes the the Minimum tax rate of 25% income tax
Third this tax is a down payment on any future liability on capital gains tax and any tax paid in because of this would be credited against those future tax obligations.
here is a quick view on the proposal
https://taxfoundation.org/blog/harris-unrealized-capital-gains-tax/
lastly almost zero % chance of passing if it were to pass it needs to be offset with and equal amount of spending and all tax goes to debt reduction.
Harris tax on capital gains?
