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NY Times: Trump Administration Mulls a Unilateral $100 billion Tax Cut for the Wealthy
- Thread starter xbhaskarx
- Start date
How is that a good thing?
People starving on the street and going without medical care so the donor class can increase their power over the rest of society.
Lol they'll slash social security, medicare, medicaid... probably while increasing the military budget.
Wow. I'm not ultra wealthy but 99% of my net worth is in stocks and this will help.
One thing to realize is that capital gains triggers at the 1 year point with no further tax incentives to hold more than 1 year outside of the gain on the principal.
This law would actually create incentives to hold for longer periods, and in some ways would be even more beneficial as we'll see some trading strategies swing towards weighing to the long term. In fact, retirement portfolios of the middle class would massively benefit as that holding timeline is decades.
One thing to realize is that capital gains triggers at the 1 year point with no further tax incentives to hold more than 1 year outside of the gain on the principal.
This law would actually create incentives to hold for longer periods, and in some ways would be even more beneficial as we'll see some trading strategies swing towards weighing to the long term. In fact, retirement portfolios of the middle class would massively benefit as that holding timeline is decades.
This isn't a law. It's also not legal.
Taxation power lies with Congress, not the Executive Branch.
If we had a surplus, a solid safety net, fair income equality, fully funded social security, and single payer health care, I would be open to talking about cutting capital gains tax, especially if it more regular folk had capital gains to tax.
So this is on top of the tax scam that was passed?
Trump using the US Government as a Ponzi scheme is not surprising.
Trump using the US Government as a Ponzi scheme is not surprising.
Bad optics and clearly skewed NYT headline aside, the concept of being taxed on inflation has always been crazy.
Hopefully this can be dealt with by congress to make things easier than the administrative route.
Hopefully this can be dealt with by congress to make things easier than the administrative route.
It's a smash and grab for the ultra wealthy before Democrats take over Congress.
Plan A: Put more money in the pockets of wealthy donors so they can fund Republican campaigns in the midterm elections
Plan B: If Republicans don't hold on to power after the election they'll at least have looted the country on their way out
I agree in principle but I doubt a democratic house would undo this.
And then they only need to wait 4-8 years before they can try again, because time has shown, the average American voter has no memory and is stupid.
It's sad that it took a black man getting elected for the party to splinter (Tea Party) but Trump hasn't yet.
"The rich are stealing even more of our wealth but at least civil society is also collapsing!"
Pretty sure they think it is only a matter of time before they are ousted, and they want to try and get as much in as possible.
Your average Republican believes that life is hard for the rich and easy for the poor. The poor are too lazy to work and they live like a king. The rich slave away carrying this country and their money goes to paying for the poor.
They believe we need to end these handouts. The rich already give so much through charity. And giving should be voluntary. That they are rich solely because they work harder and smarter than everyone else.
There will never be enough tax cuts until the tax rate is negative for the rich.
They believe we need to end these handouts. The rich already give so much through charity. And giving should be voluntary. That they are rich solely because they work harder and smarter than everyone else.
There will never be enough tax cuts until the tax rate is negative for the rich.
Combined with shutting down federal gov if Dems dont pay for the wall that Mexico was paying?
Damn America.... really?
Damn America.... really?
"Maybe if I lose they'll drop this criminal conspiracy stuff and let me keep my sham riches."
But why?
Who cares if the average American can buy a house, fix a cavity, or drive on paved roads, GDP and corporate revenue are the only metrics I need to sleep at night baby.
Who cares if the average American can buy a house, fix a cavity, or drive on paved roads, GDP and corporate revenue are the only metrics I need to sleep at night baby.
How could I sleep at night knowing my CEO could have more money? His summer home and winter home already are on the same island like a peasent.
Just noticed, the irony of this all being old, white men.... .
Our military would crush anything like that from realistically happening here. If it got to that point, honestly, I think we'd just see a military coup and we'd enter a military dictatorship
Ask yourself - are they still paying any taxes? They'll keep this up until they aren't.
That didn't happen for the 1.9 trillion cut, why would it happen for another 100 billion?
