‘Sitharaman seeing…’:Harris’ 45% capital gains tax plan sparks meme fest

Days after US Vice President Kamala Harris – Democrat candidate running for the US President in the upcoming polls – proposed to hike the corporate tax rate to 28 per cent from 21 per cent if she wins a November, she is being compared with Indian Finance Minister Nirmala Sitharaman.
Various reports claim Harris’ next target would be the 45 per cent long-term capital gains tax, highest since 1922.
On Monday, Harris in her campaign, proposed to increase the corporate tax, aiming to ‘put money back in the pockets of working people’. Her spokesperson had ensured that this move would billionaires and big corporations pay their fair share.
Also, US nonpartisan advocacy group – Committee for a Responsible Federal Budget – stated Harris’ proposal may reduce U.S. deficit by $1 trillion over a decade, reported Hindustan Times.
However, she also maintained not to raise taxes on people who make $400,000 or less a year.
Meanwhile, Harris is now being compared to Nirmala Sitharaman, who, in her 11th Budget speech on 23 July, proposed a tax rate on long-term capital gains for all financial and non-financial assets will rise from 10 per cent to 12.5 per cent while eliminating the indexation benefit. Also, she announced that the tax rate on short-term gains from certain financial assets would increase from 15 per cent to 20 per cent.
One of them commented, “Nirmala Sitharaman seeing @KamalaHarris propose 45% capital gains tax.”
Nirmala Sitharaman seeing @KamalaHarris propose 45% capital gains tax 😂 pic.twitter.com/zCYqgcWQZF
Toby Cunningham wrote, “5% CAPITAL GAINS TAX Kamala Harris proposes 45% long-term capital gains tax – the HIGHEST since 1922. THIS is just one reason out of 1000 to get a second citizenship before anything else this bull market. This government is out of control and WILL get much worse.”
45% CAPITAL GAINS TAXKamala Harris proposes 45% long-term capital gains tax – the HIGHEST since 1922.THIS is just one reason out of 1000 to get a second citizenship before anything else this bull market. This government is out of control and WILL get much worse.
Priyanshu Kalra wrote, “Kamala and Nirmala Sitharaman must be swapping clown wigs backstage—one’s as mad about taxes as the other is about crypto.”
Kamala and Nirmala Sitharaman must be swapping clown wigs backstage—one’s as mad about taxes as the other is about crypto 🤡+🤡
Some posted funny memes:
Investors / Traders : pic.twitter.com/h4Ik0PFgak
pic.twitter.com/KE7Uo2yxXE
 
 
Earlier, Donald Trump, when he was US President, decreased the corporate tax rate to 21 per cent from 35 per cent. He, in his promises, vowed to make the cuts permanent.