'Raise tax rate': Bernie Sanders advises Harris to increase capital gains tax proposal to 28%

• Sen. Bernie Sanders, I-Vt., stated that Vice President Kamala Harris should raise her proposed 28% tax rate on long-term capital gains, indicating his latest disagreement with the Democratic presidential nominee's economic plan.
• In 2016, Sanders campaigned for a higher capital gains tax rate of 54.2% compared to Biden's proposed rate of 39.6% in 2021.
• Although he has backed Harris, Sanders has given only lukewarm support for her economic plans, which have been more moderate to win over a broader group of voters.

On Sunday, Sen. Bernie Sanders, I-Vt., stated that Vice President Kamala Harris should raise her proposed 28% tax rate on long-term capital gains, indicating his latest disagreement with the Democratic presidential nominee's economic plan.

"Sanders stated on "Meet the Press" that he would go higher than Harris' proposed capital gains tax rate. He explained that he believes she is being pragmatic and doing what she thinks is necessary to win the election, but his own view differs slightly."

On Wednesday, Harris unveiled her plan to raise the long-term capital gains tax rate from 20% to 28%, affecting assets held for over a year.

That proposal softened the party line on tax reform.

In 2016, Sanders campaigned for the Democratic presidential nomination with a desired capital gains tax rate of 54.2%, while President Joe Biden previously proposed a rate of 39.6% in his 2025 fiscal year budget.

Sanders said Harris' economic platform should go further in taxing the wealthy.

He stated that the vice president requires a robust agenda that resonates with the working class.

Despite Harris's efforts to cultivate ties with major megadonors, Sanders remained firm in his opposition to the political influence of billionaires. Harris has also received endorsements from Mark Cuban, Reid Hoffman, and numerous other wealthy corporate leaders.

"Just as I am concerned about billionaire influence over the Republican Party, I am also concerned about it over the Democratic Party," he said.

After Biden dropped out and endorsed Harris in July, Sanders has backed her campaign but given lukewarm support for her economic proposals.

Sanders has openly disagreed with Harris' shift away from supporting Medicare for All, a proposal that Sanders backed during his first presidential run in 2019.

To attract undecided, moderate voters and increase her chances of winning, Harris has been moderating some of her more liberal positions from 2019.

The former Vice President Dick Cheney and his daughter, former Rep. Liz Cheney, endorsed the vice president, becoming the latest in a line of prominent Republicans who have defied the Trump-led party.

Sanders' lukewarm support for her economic plan could aid her in the race for the Democratic nomination. By highlighting the differences between her and one of the most liberal politicians in Congress, Harris can counter Trump's accusations that she is a "radical left lunatic."

Although they have different policies, Sanders has been more enthusiastic about her campaign and has worked towards her objectives of increasing affordable housing and improving union rights.

Sanders stated that although her views differ from mine, she is progressive.