Honestly, I think the issue is bigger than Donald Trump himself or any personality. The issue is about TAXATION.
Let’s say Trump did not propose this tax policy and some other candidate ( even Democrats ) proposed it, would you agree that it is a good or bad idea?
The democrats do propose it and I still think it’s a bad idea.
“The issue is about TAXATION.”
Maybe so, but the issue I addressed was the credibility of Williamson. He has lost his with me, since I have read his previous writings, before and after Trump. Same goes with National Review.
Taxing long term capital gains, or long term carried interest at short term rates will get you less investment and more chaotic investment..
In fact, small investors, or sometimes called Mom and Pops, would have little or no incentives to even participate if their meager long term gains (one year or more) were taxed as short term standard rate income. Larger investors with millions of dollars invested would have absolutely no reason to hold those investments because there would be no incentive to do so.
In short, you would turn the entire market stability upside down and turn everyone into Day Traders!
Talk about volatility!
Lol...We would look just like China’s market. Totally non functional.
The author is right. It appears to me that trump does not fully comprehend the issue and is using it IN THE SAME WAY that liberals do, and that is to make a senseless “fairness “ argument when in fact, there are reasons we do it that way to encourage investment capital to flow in a stable way by incentives to hold investments for at least one year or more..