welcome to Y news kamla Harris's tax plan proposes taxing unrealized capital gains profits on assets that haven't been sold yet this targets the ultra wealthy those with over $100 million in assets impacting the top 0.3% of households why the wealthy are concerned Elon Musk warns that taxing these gains could stifle Innovation and harm the economy critics argue it might even hit small business owners but Harris's plans specifically targets the ultrich potential tax system impact Harris wants to raise the capital gains tax rate for the wealthiest from 20% to nearly 40% this could generate $800 billion over a decade funding crucial social programs and promoting fairness in the tax system challenges ahead even if Harris becomes president passing these changes will be tough President Biden faced similar challenges and Harris May struggle to get this through Congress thanks for tuning in if you found this helpful like share and subscribe for more insights from L news