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Retirees, in particular, worry about everything from inflation toSocial Securityand the value of their investments.
This throw in of thinking is not always grounded in fact.
Additionally, Harris has proposed raising the corporate tax rate to 28%, according to NBC News.
That means corporate income will be squelched, Malek explained.
That is not good, by any measure, for your stock portfolio.
The past 3.5 years have been tough financially, he said.
Now its not good at all.
The Vice President has also mentioned taxing unrealized capital gains, according to experts.
Harris has proposed a 25% tax on unrealized capital gains, said Adam Ferrari ofPhoenix Capital Group.
For retirees, this could mean a higher tax burden on their investments.
According to Reuters, Harris plan would only tax unrealized capital gains exceeding $100 billion.
Only 24% of Americans said they would do the same if Trump wins.
Fears of increased and persistent inflation can cause people to tighten their spending.
Although inflation has slowed thanks to interest rate hikes, prices continue to rise.
Im waiting untilfull retirement age, which is next year for me, to collect benefits.
But will they even be there?
Both Harris and Donald Trump have stated they would protect Social Security benefits.
Harris hasnt yet proposed a plan to safeguard the fund.
The Social Security system is facing bankruptcy, and many presidential terms havent changed a thing.
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