Vice President Kamala Harris no longer supports President Joe Biden’s proposal to tax unrealized capital gains, as announced by billionaire Mark Cuban at a campaign event. The plan, initially backed by Harris, aimed to impose a 25% minimum tax on unrealized capital gains for Americans with net worths of $100 million or more. This would have changed how capital gains are taxed, affecting only a small fraction of the wealthiest Americans. Currently, capital gains taxes apply only to sold assets. The proposal faced criticism, including from former President Donald Trump, and was based on misinformation.