🚨🚨🚨Is Kamala Harris trying to engage in tax terrorism?
Recently, there was news that Kamala Harris supports Joe Biden's fiscal year 2025 budget, which will impose a 45% capital gains tax on long-term investments. Not enough? She also wants to impose a 25% tax on the money earned from not selling. When this news came out, the cryptocurrency market panicked, and Bitcoin and other currencies fell.
The tax is too harsh, and the cryptocurrency industry may have to leave the United States, and other countries will have a chance. She just proposed to raise corporate taxes to 28%, and now she is saying that a 45% tax will be imposed on long-term capital gains. This is the highest tax rate in the Democratic Party in 30 years. If it is really implemented, long-term Bitcoin investors will be miserable, and cryptocurrency companies may also have to leave the United States.
And the 25% unrealized profit tax is also a pitfall for long-term investors. People in the crypto industry and Bitcoin investors have begun to call on Kamala Harris' team to "reset cryptocurrencies" and not to be so harsh. Bitcoin investor Toby Cunningham said that he should consider getting a second citizenship of the United States.
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