My Thoughts on Kamala Harris's Capital Gains Proposals

In this video, Tom Wheelwright breaks down Vice President Harris's capital gains tax proposals and what they could mean for your investments. Tom shares his expert insights on how these changes might increase tax burdens, particularly for long-term investors.

[Planetgreenzen]

I hope she doesn't get "placed" into power like the last guy was. These evil people need to get a hobby. Thanks Tom for breaking that down.

[hollyb]

That unrecognized capital gains tax is for people with a net worth of more than $100, 000, 000.

[edgardeckercpa]

I wonder if taxing unrealized gains is even constitutional. Technically, can't the federal government only tax income and excise tax? Unrealized gains would be more like a property tax. Just my thoughts...

[wtsjyhq]

From what I understand her tax rule would apply to people with 100 million or more.

[thomaspark]

So the 20% on capital gains is for income earners of over 500k. For most normal people we pay 15%. Does her plan increase people in the 15% bracket as well or just people making over 500k?

[JohnWallner-vr]

You should know your Constitution, and this is very scary. Yes, it only affects the $100 million or above, but so too was the case before the 16th amendment:

Nutshell:
Amendment Sixteen to the Constitution was ratified on February 3, 1913. It grants Congress the authority to issue an income tax without having to determine it based on population.

That meant that prior to this, only the rich were included, but some genius figured out how to include all of us. Don't think that this isn't that case here as well. This is a gateway for Congress to introduce the bill, then slowly insert the knife over some time.

What pains my heart is that the only individuals that would be great for fixing this don't want to apply, leaving the American population to choose between the two we have.

Harris, who has been part of the problem for the last 4 years, and supports insane measures to capture our money only the warrant of " we are broke, so give it up "

or

Trump, who has his own issues, not excluding having several convictions and no sensor as to how or when he should speak. You don't tell china that " It's about time that you pay your fair share ". You professionally propose a solution, without creating wars.

Don't think for a second that this isn't why the government wants to create digital money. This is the payment gateway to allow them to require each of us to allow direct deposit and ( new ) direct withdrawal...not good.

[LuisFigueroa-wmbb]

When she said that and you did a fact check that is only for millionaires transactions.

[LeonBrown]

What if you do an installment sale on real estate? Can taxes still be deferred?

[Brandon-frnl]

This is absurd. Why would anyone even do that to the people?

[mdgart]

The capital gain taxes increase will be only for people making more then a million per year

[optiskeptic]

Are you saying Section 1031 is gone??
And, is that for long-tern capital gains?? Wow!

Finally, what is the income or net worth bracket for that top rate of 39.6%+5%? I heard it was actually 100 million, is that wrong?
Hopefully not going back to Eisenhower days when it was 71%... I definitely would not like Ike if I had 100 million back then!

[falconflooring]

Did I miss something? Her tax bill is suppose to effect those who are valued at 100 million or over where 80% of their worth is liquid.

[Wickedfix]

Unrealized. You don't even have to sell to be taxed

[Ashleyefrati]

It’s not about keeping the most money it’s about everyone paying their fair share. Including the wealthy. Rich people have the luxury of jumping through loopholes to get tax free wealth and it’s not fair. PAY YOUR FAIR SHARE. Stop being greedy.

[itsthemexineckbassinassass]

Sir your video is so misleading. You really need to tell these folks when that tax applies to someone.

[kyrajachode]

“households worth more than $100 million” this is not for every day retiree. Avg retiree has $500k portfolio…

[marlentp]

That info is not accurate, it only applies to folks w/ a net worth OVER $100 MILLION DOLLARS.🤦🏼‍♀️🧐🤦🏼‍♀️

[Steven-pvxr]

Vote republican and stop the leftist nonsense