Ignore social media. Here’s what Harris’ unrealized capital gains tax proposal means for you ...Middle East

By Katie Lobosco, CNN Washington (CNN) — A tax proposal embraced by Vice President Kamala Harris that’s meant to target the wealthy is getting attention in an unlikely place for wonky policy debate: social media. But many posts ignore the fact that the plan would only impact those whose net worth is more than $100 million, or less than 1% of taxpayers, and falsely suggest that all homeowners should fear a new massive tax bill. One TikTok user, for example, claimed that people will “lose their homes” and that “the IRS will bankrupt them.” At issue is a proposal often referred to as a billionaire minimum tax. It would treat the increase in the value of assets – like real estate, stocks

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