Sanders Urges Harris to Raise Capital Gains Tax
Sanders Urges Harris to Raise Capital Gains Tax
Sanders Urges Harris to Raise Capital Gains Tax
News summary

Vice President Kamala Harris has proposed raising the long-term capital gains tax to 28% for individuals earning over $1 million, a departure from President Biden's more aggressive 39.6% proposal. Senator Bernie Sanders has responded by urging Harris to increase her proposed rate even further, advocating for a tax system that is fairer to working individuals and critiques the disproportionate benefits to the wealthy. Sanders expressed concerns about the influence of billionaires within the Democratic Party, highlighting the need for a strong progressive agenda. While Harris seeks to appeal to a broader voter base, including endorsements from prominent Republicans, this has led to notable policy divergences with Sanders. The discussions around capital gains taxes underscore the ongoing ideological debates within the Democratic Party as the 2024 election approaches.

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