The article discusses how US Senators Barack Obama and Chuck Schumer had previously opposed capital gains tax levels proposed by Senator Kamala Harris. Obama, during his 2008 presidential campaign, had proposed a 28% capital gains tax, which was lower than Harris’s proposed 39.6%. Schumer, in 2012, had also resisted calls to increase capital gains tax, arguing that it would deter investment. The article suggests that Harris’s proposed tax level is higher than what has been historically supported by key Democrats.
Interested in US tax policy history and debates? Want to gain insights about the views of key US politicians on capital gains tax? Click the link to learn about the different stances of Senators Obama, Schumer and Harris on this issue.