Posted on 09/03/2019 9:37:47 AM PDT by deplorableindc
Several offices within the Trump administration are studying a policy that would lower taxes for investments such as stocks and real estate, according to a senior administration official.
The Treasury Department, the White House Office of Management and Budget, and the Council of Economic Advisers are studying the possibility of indexing capital gains to account for inflation, according to the senior official.
The review includes a look at the distribution table for savings to investigate whether the reform would disproportionately benefit wealthy people who are able to invest more of their money.
(Excerpt) Read more at washingtonexaminer.com ...
NIGHT AND DAY between this and the commies like Bernie and Fauxcohantas who actually want to tax capital gains before they’re even realized.
If we the American electorate are dumb enough to let these wolves into the ranch by swinging the gates wide open, we deserve everything that happens to us.
One thing’s for sure, people with large amounts of financial wealth have really gotten the short end of the stick in this country, and it’s time that the middle class pick up the slack. Take up the rich man’s burden, as Kipling might have said.
Are capital gains the only financial item that can appreciate do to inflation? No. Wages are often raised by employers in acknowledgement that the cost of living has risen, due to inflation. If indexing for inflation is the “right” thing to do for capital gains, then why not for wages as well.
I do not under some Conservatives who fall into the trap that merely because investing capital is a good thing, which it is, that it is universally SUPERIOR to labor, when in fact it is also well known that as taxes rise progressively on wages those higher taxes do not encourage labor, because progressive taxes take a bigger per capita byte on the wages earned.
As a conservative I do not think capital gains, or even dividens and interest should be taxed greater than wages, as a kind of punishment against capital formation. I also do not think wages should be taxed greater than capital gains or interest and dividens.
I am in favor of a universal (applies to all sources of income) flat tax system, with no deductions, exemptions, eclusions or credits. Just a common universal flat tax every pays, with no giant tax code full of anything that lets anyone out of it. Such a tax would be so hugely broad based, that a low tax rate would be sufficient for the revenue needed.
But no, instead we get Conservatives playing the same tax game as the Marxists. Progressives and Liberals - deciding whose ox deserves to be left gored more than some one elses.
I am for getting the tax code OUT of being from where economic decisions in the economy are made, so that economic decisions are made on the natural economic factors, not how the deciaion is or is not rewarded or punished by the tax code.
do away with witholding and institute the fairtax and tax all the capital gains you need to... middle class will take the savings on taxes and invest in capital gains as well...
Those wanting to endlessly expand government power benefit immensely from steady inflation as their money creation steadily robs savers and investors they also act like that inflation never happened when it came to taxing the gains.
I’ve been arguing that constant dollars need to be used for years.
Actually, I’d be fine with not taxing gains, nixing inheritance taxes, property taxes, income taxes, license fees and just about everything besides sales taxes or tariffs.
Replace the income tax with a tariffs. That is the best solution.
Wages (and other income) are indexed for inflation, via yearly adjustments to the standard deduction.
https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2019
IMHO, if you really want to stick it to the FED (it is neither Federal and does not have Reserves!) eliminate the capital gains on precious metals Gold/Silver — treat them as currency as it is in our Constitution.
Not good enough for me.
I am for a flat tax, period. Not for “national economic management” via the tax code.
The entire tax code with all its rewards and punishments is one half of why the economy is never operating as it could and should. A massive amount of actions in the area of how finances are used and allocation of resources are not being decided on natural economic merits, merely how best to navigate the tax code. The net result is an economy performing “good” for the tax code, but not for itself. Eventually the misallocation of finances is greater than the economy can rise above. But every time that happens, because an economic downturn results, Congress goes looking for way to recover the revenue its loosing, instead of how to get the tax code the hell out of the way of the economy.
To me, the economy does not need the tax code to be micro-managed better. The tax code and its progressive tax premise needs to be scrapped - not tweeked.
Have long favored the Steve Forbes “post card” Flat Tax.
I agree 100%. I think a good argument can be made that the 16th amendment (income taxes) and the 13th (abolition of slavery/involuntary servitude) are fatally conflicted.
If slavery is the same thing as a 100% income tax rate (all the fruits of your labor belong to someone else), then any lesser percentage is merely a matter of degree.
do this and Trump will not be reelected..
yes, we all got some tax breaks last go round, some like me not so much, but we do know the corporations....RICH PEOPLE....made out like bandits.....
Thanks to the William (”Bedsheets”) Byrd Amendment all tax bills must be “revenue neutral”.
Someone—or many someones—will need to “pay” for the lost revenue.
So which middle class deduction will be eliminated or limited this time?
Or which tax rates will be increased?
Between state and fed taxes I will pay 48% tax for buying and selling some stock. 10% state, up to 38% fed.
That is way too much!!!
Because money talks if you want to get politicians to do what you want.
Correct lightman. Someone will have to "pay for it."
And it won't be an increase in the corporate tax rate.
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