Businessman and investor Mark Cuban believes that Kamala Harris’ tax plan will beat Donald Trump’s when it comes to businesses that import products.
Harris has outlined a plan for raising the corporation tax from the current federal rate of 21 percent to 28 percent. This would be on long-term capital gains, or profit from the sale of assets that were owned for over a year, for individuals who earn more than $1 million annually.
“We will tax capital gains at a rate that rewards investment in America’s innovators, founders and small businesses,” the Democratic presidential nominee told crowds at a rally in New Hampshire on September 4.
On the other hand, Trumphas vowed 100 percent tariffs on countries that “shun” the U.S. Dollar. At a rally in Wisconsin on September 7, the former president told crowds: “You leave the dollar and you’re not doing business with the United States because we are going to put a 100 percent tariff on your goods.” These …