Harris unveils plan for 28% capital gains tax, softening Biden’s proposal for 40% rate
Increasing the capital gains tax will squeeze out middle class a little bit more, but the richest people borrow against their assets instead of selling them. Interest is paid to banks, federal budget gets nothing.
But you won’t hear neither Harris nor Biden talking about fixing this loophole
Increasing the capital gains tax will squeeze out middle class a little bit more, but the richest people borrow against their assets instead of selling them. Interest is paid to banks, federal budget gets nothing.
But you won’t hear neither Harris nor Biden talking about fixing this loophole
It’s not a loophole. It’s how it was purposefully designed.