Vice President Kamala Harris proposed increasing the long-term capital gains tax rate to 28% for wealthy Americans during an economic speech in New Hampshire on Wednesday, breaking with the policy laid out by President Joe Biden in his 2025 budget by suggesting a lower rate.
The current long-term capital gains tax rate – 20%, plus an additional 3.8% tax on higher earners – is paid when an investment is sold, or gains are realized. The Biden budget proposes raising that rate to the top rate he wants to levy on ordinary income – 39.6% – for households with taxable income over $1 million. Harris, the people familiar with the matter say, believes 39.6% is too high.
While Harris still supports taxing the wealthiest individuals and corporations at higher rates – as Biden’s budget also calls for – she believes that a lower capital gains rate would incentivize investors to put more money into startups and small businesses. She has also proposed increasing the corporate tax rate to 28%, up from the current 21% rate set by Trump’s Tax Cuts and Jobs Act of 2017.
The more you look for it the more you recognize that a lot of the people in charge of politics (and business for that matter) aren't smart or knowledgeable or even master strategists, they're just the sort of person who skirt through life through some combination of charisma and utter willingness to say whatever it takes to please the people who can advance their career.
Like you expect the dumb shit they say to be an act by a keen mind who understands politics deeply and is manipulating the public into advancing their interests, but they're often just fucking idiots with no principles who whenever they've been stymied due to their idiocy just let it slide off their back and move on to a new path with utmost confidence.
Jill Stein isn't going to slink away into the darkness after a public demonstration of political ignorance for a lady whose whole public persona is supposed to be about politics, she's just going to forget about it and keep the scam going. Not knowing the basics of government isn't going to stop her from saying she knows how to fix the problems with government. Not being on the ballot in states is unimportant for whether it sounds good to her in the moment to say they can win in all 50 states. They're all just unimportant "facts" and you can just keep talking and most people will forget or not know that you're an idiot.