A tax proposal embraced by Vice President Kamala Harris is gaining attention on social media for its potential impact on the wealthy. The proposal, known as a billionaire minimum tax, targets individuals with a net worth exceeding $100 million, affecting less than 1% of taxpayers.
The plan focuses on taxing unrealized capital gains, which are the increase in the value of assets like real estate, stocks, and private businesses, even if they are not sold. This tax would essentially be a levy on paper profits.
