Kamala Harris reveals capital gains tax changes | Elliot Edelman posted on the topic | LinkedIn (2025)

Elliot Edelman

Seasoned Equity Trader, Analyst, Content Writer, Coach, Programmer.

1mo

Here is a link to an article about this: https://www.marketwatch.com/story/kamala-harris-backs-bidens-tax-proposals-including-a-tax-on-unrealized-capital-gains-66c55df2

Elliot Edelman

Seasoned Equity Trader, Analyst, Content Writer, Coach, Programmer.

1mo

*** P.S. Disclosure: I'm posting this to inform you of the proposals. I'm not trying to be for or against it or either of the candidates. Some have analyzed Trump's proposals and think they will add to inflation and others say Harris's proposals will.

Howard B.

1mo

The information in this post is highly misleading, and it seems that many people are politicizing the issue. Elliot, your post is far from being unbiased. Most of these comments seem to apply only to those earning seven-figure incomes or more. If we were to accurately summarize the Harris tax plan, we would find that 80% of Americans (from lower to upper middle class) will see their taxes decrease, while the top 1% will see an increase..

Andrea Kennedy, CFP

Certified Financial Planner, Financial Wellness Practitioner, Macro Analyst

1mo

I have no idea why people think the President decides tax legislation.

Greg Shugar

Owner of Beau Ties of Vermont

1mo

Elliot, have you considered editing your original post to point out that this only applies to those earning $100 million or more?

Peter Jalkotzy, EP(EM), P.Biol. (ret.)

CEO & Founder, NEXTGEN POWER GROUP LTD.

1mo

As has been said in a variety of unrelated conversations - if you thought energy prices and inflation were bad. Just wait, these policies will have a significant impact to our general standard of living and the affordability of our energy security.

John Knott

1mo

Here's the problem with both parties. The right wants to cut taxes, but they can't seem to do it without raising deficits. The left wants to tax the "rich" to pay for spending programs, but the rich have no taxable income, so the middle class ends up paying for it. While these proposals will get applause lines at conventions, the senate will never pass it. Hell, the democrats alone are opposed to this in the senate. The second thing I'll point out, the tax on unrealized gains is for people with net worths of 100 million or more. Now, I understand everyone on social media is worth 100 million, but my understanding that it's only .1% of the tax base. Meaning 99.9% won't see this tax. Even still, the senate has shown time and time again, they will do everything to protect our vulnerable billionaires. Haven't you seen those sad commercials with Enya playing in the background with a scared shaking billionaire alone by his pool? They often make me cry.

Stephen Woodward

Executive Search for the Global (Re)Insurance Markets

1mo

This is the second time in two days I ve heard about taxing unrealised capital gains and I’m really curious to know how it would work. I mean REALLY curious. Or is this just another right wing exercise in gaslighting to accompany the fact that immigrants will move in next door to you to rape your children and drink your collection of Napa Valley Cabs?

Carles Iborra

Wealth Management, Corporate Finance, Strategy Consulting | ex-BCG | Member of several Investments Committees | LinkedIn Top Voice

1mo

Elliot, it just looks like a bold step to balance the budget. Most people think that the US should keep low taxes and cannot stand getting any closer to the taxation that European governments charge to citizens. Fine, fair enough! But to make things clear, if Americans don't want to pay more taxes they can say farewell to the best prepared military forces in the world (thus passing the baton quicker to China as the new hegemon), they should start preparing for a future default on debt, they can get ready for much higher crime rates, they can get off the humanity bus and let the poor who cannot afford healthcare die, theycan also make their society even more dysfunctional, and they can continue accumulating weapons and build their own bunker to prepare for the civil war that is brewing on that stage. It is not about being pessimistic. Being realistic is enough.

Ben Kucenski MBA

TMO Portal Builder

1mo

Wealth managers charge a fee based on unrealized gains. My property taxes are based on unrealized gains. The government can tax wealth just fine.And these tax changes eliminate the loophole the rich use to pay less taxes than W-2 employees.It sure is nice that my stocks I hold for more than a year are taxed at 15% instead of the income tax rate I owe which is more.We don't need to be generous with the rich. They'll be fine.