Another Round of Tax Cuts for the Wealthy

[jerseyguy]

This time no Congressional approval needed.

http://www.chicagotribune.com/business/ct-trump-administration-tax-cut-wealthy-20180730-story.html

 

[Bus Driver]

I remember when a President acting all "Imperial" was a bad thing.

 

[billy backstay]

I remember when a President acting all "Imperial" was a bad thing.

It's only bad when it's a Halfrican American with letter D after his name....

 

[Raz'r]

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]

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.

 

[Raz'r]

Of course, for me, personally, this would be a YUGE windfall when we sell the house.

 

[RKoch]

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]

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.

 

[dacapo]

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

 

[SloopJonB]

Don't fret - it'll trickle down just like the last round of tax cuts.

 

[Bus Driver]

Don't fret - it'll trickle down just like the last round of tax cuts.

Reminds me of the tag line of my favorite Baltimore attorney. 

 

[βhyde]

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.

 

[Raz'r]

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.

those fuckers

 

[jerseyguy]

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.

:wacko: :lol:

 

[Spatial Ed]

Last chance to rape America.   Trump is going down.  The power brokers want one last cum shot.

 

[Ease the sheet.]

Stupid idea. The cost is what you paid, not some manipulated figure.

 

[Bus Driver]

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. 

 

[Raz'r]

Except it is Mnuchin's  baby, but aside from that.

We hemorrhage money because our federal government is wrought with waste and redundancy.

Liar

 

[SloopJonB]

You ummmm, really and truly are jerkoff.

Spoken like a true expert.