this post was submitted on 04 Sep 2024
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United States | News & Politics

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Harris unveils plan for 28% capital gains tax, softening Biden’s proposal for 40% rate (www.cnbc.com)
submitted 2 weeks ago* (last edited 2 weeks ago) by davel@lemmy.ml to c/usa@lemmy.ml
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Economically to the right of Genocide Joe.

Long-term capital gains, or assets held for more than one year, are currently taxed at a maximum rate of 20%.

So not nothing, but not much, assuming the change can be pushed through at all. Nothing will fundamentally change. These taxes wouldn’t even affect well-paid workers; they only kick in at $1M.

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[–] HubertManne@moist.catsweat.com 32 points 2 weeks ago (1 children)

it should be graduated just like personal income. small business small tax. large corp, large tax.

[–] davel@lemmy.ml 5 points 2 weeks ago (1 children)

I get the sentiment, but I don’t think small businesses often have capital gains.

[–] HubertManne@moist.catsweat.com 3 points 2 weeks ago

ugh. somehow in my mind I thought this was corporate tax but I guess we still won't change them much.