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If you have a few million to spend on a vacation property, you are rich.
I wish. No, it is just a humble cottage getaway. Most of the increase in value has been due only to a decline in the purchasing power of a dollar - inflation. It is not right to tax people on a gain when it is really not a gain at all. I think that is what is being addressed in this proposal.
from what I've seen - 85 of the benefit will go to the 1%. so again, the middle class will get some crumbs, but more debt passed to our children to benefit the uberwealthy while his lemmings rejoice over the crumbs....
Yes.
I've heard the stat that 50% of Americans have money in the stock market. The vast majority of those people have that money in retirement accounts.
For many of us who have other money in the market, capital gains represents a fairly small percentage of our income. My net worth puts me in the top 10% of the country, but most of my income is salary.
This potential cut is for the donor class. Trump doesn't care about the rest of the country.
I wish. No, it is just a humble cottage getaway. Most of the increase in value has been due only to a decline in the purchasing power of a dollar - inflation. It is not right to tax people on a gain when it is really not a gain at all. I think that is what is being addressed in this proposal.
Thank God. I was so worried about how the one percenters were gonna get through this year. Look at DeVos- she only has 10 yachts. What a brave soul.
I know. The 1% has really suffered under Trump.
Quote:
Originally Posted by sware2cod
Only if the stocks are outside of a 401k, Roth IRA or IRA.
It's for the filthy rich real estate investors and filthy rich billionaires.
He's gonna bankrupt the country by cuttings taxes on billionaires and corporations but he doesn't care about regular people. He only cares about the uber-wealthy that afford multiple mansions across the world, private yachts, private planes, butlers, etc.
I really don't know how he could make that any plainer.
Quote:
Originally Posted by zach_33
If Trump could pull this off along with sweeping cuts to medicare and social security, the GOP will feel like they have gotten everything they needed from him.
more tricks by the republiCONS. Always trying to stick it to the middle class. The wealthy are doing fine. Is this Trumps Trickle down part 2? Next step is to cut Medicare and social security. and that will help pay for it. they do that and that’s the final straw for most Americans.
"The top 10% of American households, as defined by total wealth, now own 84% of all stocks in 2016, according to a recent paper by NYU economist Edward N. Wolff."
“Despite the fact that almost half of all households owned stock shares either directly or indirectly through mutual funds, trusts, or various pension accounts, the richest 10% of households controlled 84% of the total value of these stocks in 2016,” Wolff writes.
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