Here's what Harris' plan to tax unrealized investment gains means for the wealthiest Americans

  • 📰 NBCPhiladelphia
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 51%

News Nyheter

Sverige Senaste nytt,Sverige Rubriker

Vice President Harris has endorsed President Biden’s plan to tax unrealized gains on wealth exceeding $100 million, also known as the billionaire minimum…

Vice President Kamala Harris in August endorsed tax increases proposed by President Joe Biden, including a 25% minimum tax on total income, including so-called"unrealized gains," or asset growth, exceeding $100 million.

If enacted, taxpayers with wealth above the $100 million threshold would have to report unrealized gains for each asset class annually, including the basis, or original purchase price, and market value as of Dec. 31. They would also report total liabilities.25% minimum tax on total income, including so-called"unrealized gains," or asset growth, exceeding $100 million. This is known as the billionaire minimum tax., or people with at least $100 million in assets, living in the U.S., according to a report from Henley & Partners, a wealth and migration advisory firm.

The policy"poses significant administrative and compliance challenges," including liquidity concerns, possible gaming and IRS disputes, she said."I still think it ends up being an unworkable proposal." Although the justices didn't comment directly on wealth taxes, the ruling left questions about whether a future wealth tax could pass constitutional muster.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 569. in SE

Sverige Senaste nytt, Sverige Rubriker