Trump Administration Mulls Cut to Capital Gains Tax on Home Sales - Report (KBH:NYSE)
Bloomberg reported the plan would target wealthy investors and some homeowners as Trump tries to lift approval ratings below 40 percent.
- On Tuesday, Bloomberg reported that President Donald Trump is weighing new policy pledges ahead of the midterm elections, including potentially calling on Congress to cut capital gains taxes and create an exemption for certain home sales.
- Amid approval ratings dropping below 40 percent, National Economic Council Director Kevin Hassett said Tuesday that President Donald Trump wants to offer voters more incentives to back Republicans in November.
- Kudlow floated a larger exemption for home sales, potentially excluding homes worth $2 million or less from capital gains taxes, while Ted Cruz and Tim Scott pushed for indexing capital gains to inflation, estimated to reduce federal revenue by about $200 billion.
- CRFB president Maya MacGuineas criticized the potential executive-action approach, calling it a deficit-financed tax cut enacted "by executive fiat." The Committee for a Responsible Federal Budget warned this could add up to $950 billion to the national debt by 2035.
- Analysts warn investors should wait for actual legislative action, as inflation indexing would barely dent a stock like Coca-Cola trading at $86 despite Buffett's decades of holding. Indexing fixes distortions by adjusting original purchase price to reflect inflation accumulated over time.
24 Articles
24 Articles
Trump Weighs Another Giveaway to the Wealthy With Capital Gains Indexing Ahead of Midterms
With many Americans frustrated by the cost of living and struggling to afford the basics, President Trump is considering a familiar response: another tax cut that overwhelmingly benefits the wealthy. Trump is once again weighing a proposal to index capital gains taxes to inflation as part of a set of policy promises ahead of the midterm elections, according to Bloomberg. The change would allow investors to adjust the original purchase price of a…
Bloomberg: Trump Weighs Call For Capital Gains Tax Cut as Midterm Boost
I finally started reading Scott Greer’s book Whitepill this morning. Bloomberg: “President Donald Trump is looking for new policy pledges he can present to voters ahead of the midterm election, according to a top economic aide and a former administration official, including potentially calling on Congress to cut capital gains taxes and create an exemption...
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