Another Round of Tax Cuts for the Wealthy

Raz'r

Super Anarchist
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De Nile
So, if I've got this right, Cap Gains rates are lower, because part of the gain is just inflation.

But now they want to remove the inflation of the base. So - they will increase the tax rate to the standard rate then, right?

 

Raz'r

Super Anarchist
62,245
5,467
De Nile
BillDBastard said:
Oh boy. Typical of you lot. Someone invests their money to fund other people's dreams and aspirations, business expansion and all that jazz and you think it unfair because this president believes that the rate of return should be adjusted for inflation for purposes of taxation. Wow, just wow. More fake outrage from the resistance.
Actually, I'm ok with it. I think it's a Congressional call, but indexing the basis for inflation is ok. 

Rates should then be adjusted.

 

RKoch

Super Anarchist
14,865
346
da 'burg
BillDBastard said:
Oh boy. Typical of you lot. Someone invests their money to fund other people's dreams and aspirations, business expansion and all that jazz and you think it unfair because this president believes that the rate of return should be adjusted for inflation for purposes of taxation. Wow, just wow. More fake outrage from the resistance.
Generally, high inflation leads to a higher rate of return and an increase in Capital Gain. So implementing this rule is like getting a double bonus, one that isn't necessary or even wise given Trumps record deficits. It sounds like some large investors are pushing this in anticipation of Trump crashing the economy leading to high inflation/stagflation. 

 

Bus Driver

Bacon Quality Control Specialist
BillDBastard said:
Oh boy. Typical of you lot. Someone invests their money to fund other people's dreams and aspirations, business expansion and all that jazz and you think it unfair because this president believes that the rate of return should be adjusted for inflation for purposes of taxation. Wow, just wow. More fake outrage from the resistance.
I am not opposed to the proposal, per se.  It's the end-around the President is pulling. 

Well, that and the fact that we are in the red and this will do nothing to stop our fiscal hemorrhaging.  I mean, other than accelerate it.

 
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dacapo

Super Anarchist
13,623
1,568
NY
BillDBastard said:
Oh boy. Typical of you lot. Someone invests their money to fund other people's dreams and aspirations, business expansion and all that jazz and you think it unfair because this president believes that the rate of return should be adjusted for inflation for purposes of taxation. Wow, just wow. More fake outrage from the resistance.
I’m fine with it minus Donny’s attempt to help himself and his personal swamp monsters

 

βhyde

Super Anarchist
8,202
1,789
Beside Myself
Of course, for me, personally, this would be a YUGE windfall when we sell the house.
You must have missed the fine print.

* Tax credit does not apply to home sales or little people or democrats. Void where prohibited. May not be combined with other offers.

 

Spatial Ed

Super Anarchist
39,509
96
Last chance to rape America.   Trump is going down.  The power brokers want one last cum shot.

 

Bus Driver

Bacon Quality Control Specialist
BillDBastard said:
Except it is Mnuchin's  baby, but aside from that.

We hemorrhage money because our federal government is wrought with waste and redundancy.
And, the President has to obey the Treasury Secretary?

We continue to spiral into debt because our elected officials don’t give a shit about fiscal responsibility. Yes, there is waste and fraud. We also borrow money to pay for shit we can’t afford. Stuff like the $12 billion bailout for farmers we borrowed. 

 




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