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Say you bought $100k of a stock in 2010. Let's say you only kept up with inflation so ~2% or less in growth. Why should you have to pay taxes when you had no real gains?
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.
well... the proposal is to allow investors to account for inflation in the sale of an asset. It isn't what the OP is trying to make it sound like.
Further while any liberal worth their salt will be utterly offended by this move, every conservative will likely see it as pretty smart and likely good for the economy.
once again the freakout artists on the left are blaming Trump for something that really is just pretty boiler plate conservative doctrine. reducing capital gains is good for the economy.
It's proportional to your investments. I'm not jealous that people have much larger portfolios. I will still benefit and have more money. I don't see it as "crumbs". Inflation hasn't been much so it won't be a significant gain, but I will benefit. Stupid people who don't invest will be left (pun intended) in the dust once again, and I'm fine with that. Maybe they can go begging for "depreciation relief" on their flat screens, phones, and cars.
Will you benefit when your Medicare, Social Security is cut as well? Or if you get disabled and you're stuck with crumbs in public support because funding was cut to pay for tax breaks for the rich?
I doubt you are some big shot investor. If you are not, you are going to lose overall. But you are fine with that I guess. As long as the donor class get what they paid for when Trump hired Goldman Sachs Mnuchin as his campaign finance chief.
well... the proposal is to allow investors to account for inflation in the sale of an asset. It isn't what the OP is trying to make it sound like.
Further while any liberal worth their salt will be utterly offended by this move, every conservative will likely see it as pretty smart and likely good for the economy.
once again the freakout artists on the left are blaming Trump for something that really is just pretty boiler plate conservative doctrine. reducing capital gains is good for the economy.
Very unlikely that every conservative is on board with yet another big tax cut for the donor class to increase the debt and cut Medicare and Social Security.
Trying to bypass Congress by doing it as well is cheeky.
Will you benefit when your Medicare, Social Security is cut as well? Or if you get disabled and you're stuck with crumbs in public support because funding was cut to pay for tax breaks for the rich?
I doubt you are some big shot investor. If you are not, you are going to lose overall. But you are fine with that I guess. As long as the donor class get what they paid for when Trump hired Goldman Sachs Mnuchin as his campaign finance chief.
Again, I'm not jealous of those wealthier than me. You do not have to be super wealthy to live comfortably, and you really shouldn't be jealous of those with excess wealth as money doesn't buy happiness anyways. I have no intention on relying on any government programs. They'll be icing on the cake, but I'll live off my own accumulated assets.
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.
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