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US: Kamala Harris Wants to Impose a National Wealth Tax

August 15th, 2024
Categories: News

Link: https://www.ifcreview.com/news/2024/july/us-kamala-harris-wants-to-impose-a-national-wealth-tax/

Vice President Kamala Harris is on record in support of a national wealth tax. In March, the Biden-Harris Administration released its official Fiscal Year 2025 budget proposal which calls for the creation of an annual 25 percent minimum tax on the unrealized gains of individuals with income and assets that exceed $100 million. Once in place, progressives will ensure the tax grows to hit more and more Americans over time. Harris has not been shy in taking ownership of Biden-Harris FY 2025 budget, noting in a March post on X that the budget plan was jointly put forward by her and Biden.

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