AFP Fact Check: Posts Misrepresent Harris Tax Plan on Unrealized Capital Gains

Social media posts claim Kamala Harris’ economic plan, were she elected president, would force Americans to pay tax on the rise in value of assets such as homes and stock investments, even if they are not sold. This is mostly false; the proposal in the current Biden administration’s budget calls for a tax on “unrealized gains” on certain assets — but only for households with a net worth of at least $100 million, or an estimated 0.01 percent of taxpayers.

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