Trump Proposes To Give Tax Cuts To Rich... MAGA Baby! (legal, illegal immigration)
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Serious question... how much money does this cost the Federal Government? As in, how much do they lose overall if they go through with this?
I'm guessing it's way less than people might imagine.
And, it makes wealthy voters (often donors) happy.
It's politics as usual. This is one of the most mundane things I've seen him try to do so far. Must be an election year.
Not sure it's any sort of true MAGA moment, because most folks crowing over it aren't really going to save any tax money to speak of if it happens, but if they want to cheer on wealthy investors of all political backgrounds, let'em have at it. Wealthy donors who aren't Republicans actually do exist.
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Stagnant wages are due to supply and demand. Think H-1B abuse and illegal immigration.
Well it seems that since corporations had up to a 15% reduction in their bottom they could have passed on some of those gains to middle class workers. It doesn't appear that CEO's have a problem with stagnant wages, is there an executive shortage driving up their wages.
Who exactly do you think is requesting the H-1B visas, yes its the same people that will gain the largest benefit from this proposal.
This is just an attempt at an end around the capital gains rate, if they want to reduce the rate just do it through congress the old fashioned way rather than this convoluted proposal by Mnuchin. Its a reduction in capital gains anyway you look at it.
The Trump administration is considering a plan to cut taxes for investors. The idea would be to index capital gains for inflation, so that rather than tax the entire gain of an asset, an investor would subtract the value of inflation, therefore reducing the taxable income.
It's not bad enough that he already gave them a huge tax cut that adds to the budget deficit, but now he wants to have them pay even less taxes. They don't even try to say it will trickle down because they know that tax cuts for the rich never do.
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