Biden was never going to pass a capital gains tax increase before the election. Dems want to campaign on the issue, and Biden retiring means he can propose all sorts of shit that will make Harris seem reasonable.
28% is still way too low, but if they can tax unrealized gains used as collateral, that would close a massive loophole and bring in far more revenue than a few percentage points on realized gains.
But yes, Harris has indicated that she’s a centrist, and there aren’t enough progressives in Congress to move the ball forward. Putting Trump behind bars would be enough for me, though.
Biden was never going to pass a capital gains tax increase before the election. Dems want to campaign on the issue, and Biden retiring means he can propose all sorts of shit that will make Harris seem reasonable.
28% is still way too low, but if they can tax unrealized gains used as collateral, that would close a massive loophole and bring in far more revenue than a few percentage points on realized gains.
But yes, Harris has indicated that she’s a centrist, and there aren’t enough progressives in Congress to move the ball forward. Putting Trump behind bars would be enough for me, though.