Skip to comments.White House considering tax incentive for more Americans to buy stocks, sources say
Posted on 02/15/2020 2:14:37 PM PST by Libloather
WASHINGTON - As part of a forthcoming package of proposed tax cuts, the White House is considering ways to incentivize U.S. households to invest in the stock market, according to four senior administration officials familiar with the discussions.
The proposal, one of many new tax cuts under consideration, would see a portion of household income treated as tax-free for the purposes of investing outside a traditional 401(k). Under one scenario, a household earning up to $200,000 could invest $10,000 tax-free, although officials noted these numbers are fluid.
"Nothing's ruled out," said one senior administration official. "Nothing's been ruled in, either."
The tax break, if enacted, would represent "a pretty substantial amount of money for people" to have for retirement, according to Stephen Moore, economist at the conservative Heritage Foundation and close confidante of the White House.
"That's the type of thing that would expand ownership," Moore tells CNBC.
(Excerpt) Read more at msn.com ...
I’m a very piddly buyer.
A break to do more would be nice.
Surely you jest. Bernie needs that money.
The current interest rates are the incentive.
They need to put forward a plan that penalizes or even prohibits day trading. At present, the day-traders and market manipulators are simply gambling/running high speed numbers games with our money.
you mean gun stocks? Great idea!
Basically a Roth without having earned income limits.
“Under one scenario, a household earning up to $200,000 could invest $10,000 tax-free”
It doesn’t say but presumably this is $10K per year. In any event this radical House would probably not go along with it.
Count pensions and SS payments as earned income that can be used to buy Roth IRAs.
It’s not any government’s job to enrich Wall Street.
One reason not, imho: The continued unsustainable rise in US national debt - one report from CBO already estimating national debt will hit 144+/-% of GDP. The national and global implications are disastrous.
This tax cut nonsense needs to stop.
We are running huge deficits.
As long as people can handle a down market, I am OK with this. People need to realize the market can go down and will go down. If you can handle the bad times, the market is great.
And setting new records in tax revenues.
Seems to be a spending problem.
If you don’t trust the Market then don’t invest. Most of the day traders are rank amateurs who have no affect on the Markets and as far as “manipulation”, what does that mean? Give an example if you can.
I’m just a regular guy who has invested in the markets for about 40 yrs and I have averaged a tad under 9% after taxes for that entire period.
How come I haven’t been hurt by those day traders and market manipulators?
Already too many tax incentives to get in debt, need to reverse spending trends and become saving oriented economy.
Dont we call this an IRA?
How about not taxing social security income if over a certain level of income in a year. How about raising the level of income you can make if you collect SS before full eligible benefit age. That would help folks I believe.
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