Sounds like he’s rallying the GOPe ahead of the election. Good move.
The top 1% employ tens of thousands. And 102 billion is literally peanuts given we are giving away trillions to the unemployed. Bottom line, we need to OPEN the economy fully.
Wow! I could really use that this year! Hope it’s retro to the beginning of 2020
Not so sure about this claim. My mother owns a modest lake cabin that she paid $60,000 for 40 years ago. It's probably worth ~$400k now. She has thought of selling it, but doesn't like the idea of the capital gains hit - she'd rather pass away owning it and give us kids the stepped-up cost basis. If she could adjust her cost basis by adding inflation... that would be a game changer for her. Among other things, she'd purchase a $60k vehicle about which she has been hesitating.
Maybe this is just anecdotal and we need to rely on the experts to tell us how to think.
Nothing. It'll never make it through Congress, not in this term and not in the next.
So what? They say this like it's a bad thing. We already punish successful people by plundering their assets to buy votes and then use the stealth tax of inflation to erode their savings. Don't they deserve relief as much as anyone else? (Apparently not)
What does a capital; gains cut mean to me?
Not just for me but everyone, it means good things.
Not in the top 1% but didn't get any of the "free money" the gov't sent out.
Should have been done a long time ago for all taxes.
How about getting rid of ALL income taxes and going to a consumption tax?
Better than that, how about letting you deduct more than the measly $3,000 of capital losses in a year? I have plenty of those.
I think if Trump does win in 2020, we may see major moves to the most radical tax reform since the 16th Amendment was passed. The possibility of going to a flat tax akin to Steve Forbes’ 1996 proposal may not be far-fetched.