He and Trump seem to agree on raising taxes on the wealthy though.
So, I wonder if capital gains increases are part of Trumps plans too?
Makes you wonder.
Jedi.
You are putting out a false association.
Trump is proposing to tax hedge fund investors who profit from the carry trade in the hundreds of millions every year without paying tax or paying very little tax.
Capital gains are completely different.
So, I wonder if capital gains increases are part of Trumps plans too?
Makes you wonder.
Jedi.
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The problem is people don't make a difference between business taxes and individual taxes.
Business should never pay a tax, period. Business don't pay taxes, their customers do. If a business has no capital gains tax then they can invest and sell what is best for the business. It is hard to justify a purchase if you realize that if it doesn't work out you will have to give 39 percent of it to the government when you sell it off.
People who live off the money their ancestors made and only get taxed at 20% are the ones who should be paying the same as every one else. Income, regardless of where it is from should be taxed the same way. Why is interest income worth less than labor income? I do however think that there could fairly be some means to have an inflation factor calculated in the investment income so that you don't really get back less than you put in.