This is what a hypothetical RFK Jr. capital gains tax plan could look like:
President Joe Biden’s proposed budget plan drew attention to capital gains taxes, with a maximum tax rate of 44.6%. To understand what a Robert F. Kennedy Junior (RFK Jr.) tax plan might entail, we can look at his campaign promises and potential policy decisions.
While RFK Jr. has not explicitly discussed specific changes to capital gains tax rates, his focus on addressing corporate influence and closing loopholes in the tax system suggests that his priority may lie in reducing tax evasion rather than raising rates. This aligns with the preferences of his supporters, who prioritize closing loopholes, increasing taxes on the wealthiest individuals, and maintaining the current capital gains rate to encourage investment.
One area where RFK Jr. has been more specific is his stance on taxing Bitcoin. He has suggested exempting Bitcoin from capital gains taxes when converting it into fiat currency, such as dollars. This proposal aims to incentivize cryptocurrency trading but raises concerns about potential loopholes and the effectiveness of his anti-corruption efforts.
Overall, while RFK Jr.’s exact plan for capital gains taxes remains uncertain, it is likely he would prioritize closing loopholes and targeting tax evasion rather than significantly raising rates. His focus on addressing corporate influence and his stance on Bitcoin taxation provide some insight into his potential approach.