The wealthiest Americans' impact from Harris' plan to tax unrealized investment gains.

• Starting from 2022, high-net-worth taxpayers with assets exceeding $100 million will be required to disclose their unrealized gains for each asset class annually, including the original purchase price and market value as of December 31, in addition to their total liabilities.
• Congressional support for the plan may be lacking, and it could face administrative challenges, according to policy experts.

Although experts say her plan is unlikely to gain traction, Vice President Kamala Harris has outlined her economic agenda, which includes higher taxes on wealthy Americans and corporations.

In August, Harris supported the tax hikes proposed by Biden in his 2025 budget, including a 25% minimum tax on total income, including unrealized gains over $100 million, commonly referred to as the billionaire minimum tax.

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Starting from 2022, high-net-worth taxpayers with assets exceeding $100 million will be required to disclose their unrealized gains for each asset class annually, including the basis and market value as of December 31, as well as their total liabilities, according to the U.S. Department of the Treasury.

In his 2025, 2024, and 2023 fiscal year budgets, Biden advocated for a billionaire minimum tax. Similarly, Senate Democrats proposed a similar levy in October 2021. However, these proposals have not gained traction.

Steve Rosenthal, senior fellow at the Urban-Brookings Tax Policy Center, stated that there is minimal political backing for this.

The Harris campaign did not provide a comment to CNBC.

Mark Cuban stated on CNBC's "Squawk Box" that he believes Harris won't impose taxes on unrealized gains.

He stated that every conversation he's had is that it won't occur.

He stated that imposing taxes on unrealized gains would have a detrimental effect on the stock market.

Billionaire minimum tax is an 'unworkable proposal'

The policy presents significant administrative and compliance challenges, including liquidity concerns, possible gaming and IRS disputes, she said. "I still believe it is an unworkable proposal."

Rosenthal provided a critique of the proposal, highlighting possible legal challenges following a June Supreme Court ruling.