DoD Posted June 27, 2019 Report Share Posted June 27, 2019 White House Considers Capital Gains Tax Break That Would Benefit Wealthy By Saleha Mohsin June 27, 2019 Trump team considering bypassing Congress to adopt change Trump would likely face legal challenge by acting on his own The White House is developing a plan to cut taxes by indexing capital gains to inflation, according to people familiar with the matter, in a move that would largely benefit the wealthy and may be done in a way that bypasses Congress. Consensus is growing among White House officials to advance the proposal soon, the people said, to ensure the benefit takes effect before President Donald Trump faces re-election in 2020. https://www.bloomberg.com/news/articles/2019-06-27/white-house-mulls-capital-gains-tax-break-that-benefits-wealthy 4 3 Quote Link to comment Share on other sites More sharing options...
DoD Posted June 27, 2019 Author Report Share Posted June 27, 2019 yota, I didn't see this anywhere but I thought the timing was pretty interesting... 3 Quote Link to comment Share on other sites More sharing options...
nannab Posted June 27, 2019 Report Share Posted June 27, 2019 DoD Everything is falling into place. 1 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted June 27, 2019 Report Share Posted June 27, 2019 22 minutes ago, nannab said: DoD Everything is falling into place. 4 Quote Link to comment Share on other sites More sharing options...
Gunnytex Posted June 27, 2019 Report Share Posted June 27, 2019 Think it's time to smoke a "C"- gar. 1 Quote Link to comment Share on other sites More sharing options...
haymon Posted June 27, 2019 Report Share Posted June 27, 2019 Could it just happen please. 1 Quote Link to comment Share on other sites More sharing options...
cranman Posted June 27, 2019 Report Share Posted June 27, 2019 Ummmmmmmmmmm. Does this mean I'm going to be wealthy? Haha! 2 Quote Link to comment Share on other sites More sharing options...
Bama Girl Posted June 28, 2019 Report Share Posted June 28, 2019 I hope this means what you suspect but capital gains relief is not just for the wealthy. Geez, it affects anyone who own stocks in an IRA or a 401k. 1 Quote Link to comment Share on other sites More sharing options...
jake21 Posted June 28, 2019 Report Share Posted June 28, 2019 that won't pass anytime soon Quote Link to comment Share on other sites More sharing options...
yota691 Posted June 28, 2019 Report Share Posted June 28, 2019 This is something to watch... US bank: Trump may lower the value of the dollar more The number of readings: 99 Agency of the orbit - Baghdad The value of the US dollar has fallen to a minimum since August last year for the Russian ruble. Bank of America confirms that this is not the final limit, because US President Donald Trump may decide to devalue the US currency. The bank, one of the country's largest financial institutions, has warned investors that the US authorities intend to float the dollar. Trump will take this decision under the banner of spreading stability in the economy. "If the Federal Reserve's move to cut interest rates appears to be insufficient, then the likelihood of official intervention in the monetary issue will increase," said Michelle Meir, an economist at Bank of America and a currency analyst at Ben Randall. In 2018, the US economy grew by 2.9 percent, but by the end of the year, it slowed significantly. According to the International Monetary Fund, the US GDP growth rate will decline over the next two years. Experts predict a recession by 2021, due to a huge government debt of over $ 22 trillion and a $ 1 trillion budget deficit resulting from a sharp increase in the cost of servicing this debt, as well as a sharp escalation of the trade war with China. These experts predict that the 'soft' recession may occur in 2020, despite the expected reduction in interest rates. Experts point out that Trump publicly and explicitly abandoned the "strong dollar" policy that his predecessors held in power. Trump believes that the 'strong dollar' hinders the export of US goods and services, and only exacerbates the trade deficit. In 2018, the index reached an unprecedented figure of $ 621 billion. If the dollar becomes cheaper, the foreign consumer will prefer to buy US goods, which will increase production and reduce the deficit in foreign trade. Last week, Trump fiercely attacked ECB President Mario Draghi and accused him of deliberately cutting the euro against the dollar. Trump consistently asserts that China deliberately reduces the value of its currency - the yuan, making its exports cheaper and increasing the trade imbalance with the United States. But experts fear that Trump's continuation of the 'weak dollar' policy could undermine the growth of the US economy. 1 1 Quote Link to comment Share on other sites More sharing options...
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