Kamala Harris Economic Advisor Confirms Plan to Tax Unrealized Gains

Appearing on CNBC’s Squawk Box program, Kamala Harris’ economic advisor confirmed her plan to tax unrealized gains. Indeed, Bharat Rama from Harris’ administration spoke with the program’s hosts, arguing for the benefit of the controversial tax plan.

CNBC anchors Joe Kernan and Rebecca Quick challenged the tax plan, while Rama spoke of its merits. Yet, it confirmed that the economic policy remains an ongoing part of the Harris campaign. Kernan poignantly told Rama that, “it’s never gonna happen,” when discussing the plan.

Also Read: Kamala Harris Supports President Biden’s 44.6% Capital Gains Tax Proposal

Harris Unrealized Gains Tax Confirmed by Key Advisor

The race for the 2024 US presidential election is in full swing. With November fast approaching, both campaigns are in the midst of boasting their plans for office should they be elected. That has certainly drawn some controversy for the Democratic nominee.

Speaking to CNBC today, Kamala Harris’ economic advisor confirmed the Vice President’s plan to tax unrealized gains. Earlier this month, Harris announced her support of the tax, first introduced by President Joe Biden. The move would apply to any person with at least $100 million who is not paying at least 25% tax on annual income.

Also Read: Donald Trump and Kamala Harris: Shifting Election Odds

“All the revenue that comes in from these unrealized gains taxes and the other taxes in the Harris plan are going to go to creating more opportunity,” Rama told the program’s host. In response, Kernan said the plan was “probably unconstitutional.”

Rebecca Quick noted that the proposed tax plan “doesn’t seem fair in any sense of the word.” Since its announcement, the plan has received strong opposition. Even if Harris does win the Presidential election in November, the plan will face an uphill battle to make it through Capitol Hill.