Free Republic

Donald Trump has told lawmakers he wants to end the special tax treatment of private equity and hedge fund profits known as “carried interest”, setting up a potential clash with America’s wealthiest financiers. The push by Trump — in a White House meeting on Thursday with Republican leaders from Capitol Hill — comes as the president intensifies talks over a broader tax cut bill he wants passed this year that is core to his domestic economic agenda. Karoline Leavitt, the White House press secretary, told reporters that Trump had “laid out” his “tax priorities” to the lawmakers, including measures to...

The Prime Minister suggested that second homes deserved to be hit by increased capital gains taxes because such properties were not ''splendid'' for the economy. Mr Cameron also confirmed he had been forced to ditch a number of Conservative policies to enlist the Liberal Democrats in a coalition Government, and conceded that he would lose some traditional Tory supporters as a result. He defended the change in policy, which is expected to see capital gains tax (CGT) for second-home owners and shareholders rise from 18 per cent towards 40 or even 50 per cent. It is designed to pay for...

President Barack Obama's new health-care legislation aims to raise $210 billion over 10 years to pay for the extensive new entitlements. How? By slapping a 3.8% "Medicare tax" on interest and rental income, dividends and capital gains of couples earning more than $250,000, or singles with more than $200,000. The president also hopes to raise $364 billion over 10 years from the same taxpayers by raising the top two tax rates to 36%-39.6% from 33%-35%, plus another $105 billion by raising the tax on dividends and capital gains to 20% from 15%, and another $500 billion by capping and phasing...

Most Americans that complain about too many taxes likely pays very little taxes themselves. Our roads, bridges, and other infra-structure are crumbling. Our healthcare system is a disaster. Do you think this can be fixed with less money into the government coffers?