Sixteen tax hikes floated by Vice President Kamala Harris are off the table, now that former President Donald Trump has won reelection, according to a new report.
In all, American taxpayers have been spared from at least five trillion dollars of new taxes supported by Harris during her White House run, analysis by Americans for Tax Reform (ATR) finds.
ATR’s study lists the following tax hikes that Americans no longer need to fear:
- Highest capital gains tax since 1978
- Small business tax rate hike to 39.6%
- Corporate tax rate hike to 28%, higher than the EU and communist China
- Unconstitutional wealth tax on unrealized gains
- Death Tax hike
- A second Death Tax by taking away stepped-up basis when parents die
- Global tax cartel with 21% minimum tax rate
- Carbon tax
- Quadrupled tax on stock buybacks — a Harris tax that would have hit every American with a 401K or IRA or union pension
- 30% federal excise tax on electricity used in cryptocurrency mining
- Crypto tax
- $37 billion tax on American energy
- 32% increase to Medicare taxes
- $24 billion retirement tax
- Real estate tax hike on Like-Kind exchanges
- An even further-supersized IRS
Each of the proposed tax hikes is examined in detail on ATR’s website at Kamalanomics.org