Vice President Kamala Harris has tacitly endorsed a tax on unrealized capital gains, but this would primarily affect the wealthiest Americans, sparing most tech founders.
The proposal applies only to individuals with at least $100 million in wealth who do not pay a minimum 25% tax rate on income, including unrealized gains, allowing for payment spread.
To implement this, taxpayers would only be taxed on unrealized gains if at least 80% of their wealth is in tradable assets, affecting only hedge fund managers.
The goal of the unrealized gains tax is to address inequities in the tax system and to generate revenue, anticipated to raise $500 billion over ten years.
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