Kamala Harris Proposes 28% Capital Gains Tax Rate For Individuals Earning $1M Or More
Portfolio Pulse from Benzinga Newsdesk
Kamala Harris has proposed a 28% capital gains tax rate for individuals earning $1 million or more. This proposal could impact high-income investors and potentially influence market behavior.
September 04, 2024 | 7:22 pm
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The proposed increase in capital gains tax to 28% for high-income individuals could lead to short-term volatility in SPY as investors may adjust their portfolios in anticipation of potential tax changes.
The proposal targets high-income individuals, who are significant investors in SPY. Anticipation of higher taxes could lead to selling pressure as investors seek to lock in gains at current rates, causing short-term volatility.
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