Republicans will continue to transfer MORE wealth to the rich thru tax cuts at the expense of the middle class….
No matter what the country debt is or the economy….
Oh, and Trump & Co. want do this as a Congressional walk around…..
The White House is developing a plan to cut taxes by indexing capital gains to inflation, according to people familiar with the matter, in a move that would largely benefit the wealthy and may be done in a way that bypasses Congress.
Consensus is growing among White House officials to advance the proposal soon, the people said, to ensure the benefit takes effect before President Donald Trump faces re-election in 2020.
Revamping capital gains taxes through a rule or executive order likely would face legal challenges, a concern that reportedly prompted former President George H.W. Bush’s administration to drop a similar plan.
A White House spokesman didn’t immediately respond to a request for comment.
Indexing capital gains would slash tax bills for investors when selling assets such as stock or real estate by adjusting the original purchase price so no tax is paid on appreciation tied to inflation.
Wealthiest Benefit
Most of the benefits would go to high-income households, with the top 1% receiving 86% of the benefit, according to estimates in 2018 by the Penn Wharton Budget Model. The policy could reduce tax revenue by $102 billion over a decade, the model found….
It’s the Republ8can thing to do.
Cut taxes for the rich, run up the deficit.
Bitch that Democrats are “fiscally irresponsible” for suggesting investments in education, health care, and infrastructure.
Rinse. Repeat.
Reality?
GOPer’s gonna make them and their buddies richer
Solution?
People gotta vote the GOPer’s that are robbing ya out…
Keep the ones that are willing to come half way….
if there where no GOPer’s
what would Democrat’s do?
This is why the Republican Party exists.
Make the rich richer.
Odd isn’t it?With all the problems confronting the country,I’ve heard absolutely nobody anguished over the capital gains tax rate (except I imagine some wealthy people) .
Once again, another example of the myth that Trump is a”populist.”
This move would be ,along with his previous tax cut for the rich, another blatant anti Populist move.
Jack?….
This IS the way you hide in plain sight…..
There is so mach going on….