Fact check: Will Kamala Harris tax unrealized capital gains?

Published: Aug 28, 2024 Duration: 00:02:26 Category: News & Politics

Trending searches: harris capital gains tax
ALSO CLOSED AS A RESULT OF THOSE OUTAGES. WELL, TAXES ARE A HOT TOPIC IN THE PRESIDENTIAL CAMPAIGN, BUT IF YOU'RE GETTING YOUR INFORMATION FROM SOCIAL MEDIA, THERE IS A GOOD CHANCE THAT INFORMATION CAN BE MISLEADING. OUR CORN HOGGARD JOINED FORCES WITH ECONOMISTS TO ANALYZE TAX PLANS FROM KAMALA HARRIS AND DONALD TRUMP. HE'S LIVE IN OUR NEWSROOM NOW. AND SO CORN WHEN IT COMES TO CAPITAL GAINS AND DEFICIT SPENDING, CAN YOU HELP US SORT OUT ALL THE FACT AND FICTION? YEAH, KELSEY AND RANDY, WE ARE TALKING ABOUT UNREALIZED CAPITAL GAINS, MAINL. THOSE ARE PROFITS ON THINGS THAT YOU HAVEN'T ACTUALLY GOTTEN YET. SO IF YOU OWN A PROPERTY AND THE RISING VALUE OF THAT HAS LED TO MORE TAXES, THAT IS YOUR UNREALIZED CAPITAL GAINS. AND THAT IS WHERE THERE'S A BIG DISTINCTION HERE. VIRAL SOCIAL MEDIA POSTS ARE SOUNDING THE ALARM ABOUT KAMALA HARRIS PLANNING TO TAX UNREALIZED CAPITAL GAINS. THE SAME THEME RUNS THROUGH MOST OF THEM. IF YOUR HOUSE GOES UP IN VALUE, YOU'LL HAVE TO PAY THAT TAX. BUT IT'S SIMPLY NOT TRUE. NOT FOR 99.9972% OF AMERICANS. IT'S ONLY FOR PEOPLE WHO HAVE A WORTH OF OVER 100 MILLION. FOR NOW, THE FOR NOW, FROM DOCTOR CHRISTOPHER FALLON COULD BE IMPORTANT. THE VICE PRESIDENT HASN'T RELEASED A TAX PLAN, BUT HER CAMPAIGN SAYS SHE ENDORSES A PROPOSAL MADE BY PRESIDENT BIDEN. IT WOULD HAVE INCLUDED THE FIRST EVER TAX ON UNREALIZED CAPITAL GAINS, BUT JUST FOR THE ULTRA WEALTHY. FALLON SAYS IT HAS A POTENTIAL TO BE A SLIPPERY SLOPE FOR A GOVERNMENT, OFTEN LOOKING FOR NEW REVENUE. IT HAS TO BE IN SOME SENSE, BECAUSE THERE'S JUST NOT THAT MUCH. EVEN THOUGH THESE GUYS ARE FANTASTICALLY WEALTHY, THERE AREN'T THAT MANY OF THEM. AND A PENN WHARTON ANALYSIS OF COMPETING BUDGET PROPOSALS SHOWS TRUMP'S WOULD RAISE THE FEDERAL DEFICIT BY $5.8 TRILLION OVER THE NEXT DECADE, WHILE HARRIS'S WOULD ADD 1.2 TRILLION. HIS FOCUS IS ON TAX CUTS, ESPECIALLY FOR HIGH EARNERS AND CORPORATIONS. HERS OFFERS TAX CUTS FOR PARENTS AND LOW INCOME WORKERS. HE WOULD ADD SOME REVENUE THROUGH TARIFFS, SHE WOULD ADD IT WITH HEAVIER TAX BURDENS ON THE WEALTHY AND CORPORATIONS, WHICH FALLON SAYS COULD BACKFIRE IF OUR TAX RATE FOR CORPORATIONS IS OUT OF LINE WITH OTHER COUNTRIES. AND WE SAW MEDTRONIC MOVE TO IRELAND, THEY DO HAVE ONE POINT OF AGREEMENT. BOTH CANDIDATES HAVE PROPOSED SOME VERSION OF NO TAX ON TIPS. BUT FALLON AGREES WITH MOST ECONOMISTS ON THAT, SAYIN

Share your thoughts

Related Transcripts

Glenn Beck Interviews Nicole Shanahan (RFK Jr's Former Running Mate) thumbnail
Glenn Beck Interviews Nicole Shanahan (RFK Jr's Former Running Mate)

Category: News & Politics

Welcome to the program nicole shanahan we're thrilled to have you on nicole how are you hi i'm very good glenn how are you doing i'm good um you know i'm i'm excited to talk to you um for multiple reasons but we're not going to really talk about policies because i'm sure we disagree a lot on policies... Read more

Son of War Hero McCain Breaks from GOP Over Trump’s Arlington "Disgrace" thumbnail
Son of War Hero McCain Breaks from GOP Over Trump’s Arlington "Disgrace"

Category: News & Politics

Jimmy mccain the son of the late senator john mccain recently announced a shift in his political allegiance stating that he can no longer support the republican party due to donald trump's actions and comments regarding the military mccain an intelligence officer in the national guard criticized trump's... Read more

Harris tries to pin Project 2025 on Trump during presidential debate thumbnail
Harris tries to pin Project 2025 on Trump during presidential debate

Category: News & Politics

On this debate tonight you're going to hear from the same old tired playbook a bunch of lies grievances and name calling what you're going to hear tonight is a detailed and dangerous plan called project 2025 that the former president intends on implementing if he were elected to again i believe very... Read more

President Trump in Mosinee, WI thumbnail
President Trump in Mosinee, WI

Category: News & Politics

Ah thank you very much everybody this is an honor lot of crowd this is look where that crowd goes this is a big crowd a very special hello to wisconsin we really appreciate it we've had great success here we've had tremendous success and i'm thrilled to be back in this incredible state with the thousands... Read more

JD Vance Brutally BOOED By Union Members During Embarrassing Speech thumbnail
JD Vance Brutally BOOED By Union Members During Embarrassing Speech

Category: News & Politics

Republican and democrat conventions we just had it says a lot who each party chose to put up on that stage at the republican convention we were featuring everyday american workers and of course we had hulk hogan and while it's tempton and i'm sure would make some big headlines don't worry any everybody... Read more

CNN’s Jake Tapper calls out Kamala Harris for dodging debate questions thumbnail
CNN’s Jake Tapper calls out Kamala Harris for dodging debate questions

Category: News & Politics

On the border another vulnerable issue for harris she also dodged would you have done anything differently from president biden th this so i'm the only person on this stage who has prosecuted transnational criminal organizations for the trafficking of guns drugs and human beings okay that wasn't the... Read more

Jim McCain reflects on politics and his father's legacy thumbnail
Jim McCain reflects on politics and his father's legacy

Category: News & Politics

We're here with jim mccain. he is the son of late senator john mccain, a military veteran himself. and we're talking politics today. good to see you. it's nice to meet you, sir. you are one of the more private of the mccain's help. you get a little bit little biography here. what have you been doing... Read more

Mark Levin EXPOSES Tim Walz's Connection to RADICAL Muslim Cleric thumbnail
Mark Levin EXPOSES Tim Walz's Connection to RADICAL Muslim Cleric

Category: News & Politics

Well he's a fraud nobody questions the fact that he was in the national guard for 24 years he was also getting paid for that he also used it on his resume good for him but that doesn't erase the fact that you were awall awall when your unit was being deployed a gutless fraud we have a huge problem with... Read more

Trump Refutes Project 2025 Accusation | The Program | Election Time thumbnail
Trump Refutes Project 2025 Accusation | The Program | Election Time

Category: News & Politics

Intro what you're going to hear tonight is a detailed and dangerous plan called project 2025 president trump will give you a minute here to respond number one i have nothing to do as you know and as is economy better than 4 years ago? she knows better than anyone i have nothing to do with project 2025... Read more

One Of The Many Times Kamala Harris Dismantles Trump In The Debate... thumbnail
One Of The Many Times Kamala Harris Dismantles Trump In The Debate...

Category: News & Politics

And one does not have to abandon their faith or deeply held beliefs to agree the government and donald trump certainly should not be telling a woman what to do with her body i have talked with women around our country you want to talk about this is what people wanted pregnant women who want to carry... Read more

Kamala's Passion Is Small Businesses | The Program | Election Time thumbnail
Kamala's Passion Is Small Businesses | The Program | Election Time

Category: News & Politics

Intro my passion one of them is small businesses i was actually my mother raised my sister and me but there was a woman who helped raise us we call her our second mother she was a small is economy better than 4 years ago? business owner i love our small businesses Read more

Trump Says Kamala Won't Get Votes For Abortion Bill | The Program | Election Time thumbnail
Trump Says Kamala Won't Get Votes For Abortion Bill | The Program | Election Time

Category: News & Politics

Intro would you veto a national abortion ban if it well i won't have to because again two things number one she said she'll go back to congress she'll never get the vote this impossible for her to get the vote especially now with the 5050 and is economy better than 4 years ago? essentially 5050 in both... Read more