Jake Johnson is a senior editor and staff writer for Common Dreams.
Democratic nominee Kamala Harris broke with President Joe Biden on Wednesday by proposing a smaller capital gains tax increase for wealthy Americans, a decision that one progressive advocacy group decried as a 'baffling capitulation to Wall Street billionaires' who have vocally complained about the vice president's embrace of higher taxes on the ultra-rich.
' Details of Harris' capital gains tax plan began to emerge days after ultra-rich investors and other major donors to the vice president's 2024 campaign took to the pages of The New York Times to express concerns about Harris' support for Biden's tax agenda, which also calls for taxing the unrealized capital gains of households worth over $100 million.
Election 2024 Inequality Joe Biden Taxation Kamala Harris
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