White House Considers Capital Gains Tax Break That Would Benefit Wealthy

[DoD]

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
 

[DoD]

yota, I didn't see this anywhere but I thought the timing was pretty interesting...

[nannab]

 DoD  Everything is falling into place.   

[ChuckFinley]

22 minutes ago, nannab said:

 DoD  Everything is falling into place.   

[Gunnytex]

Think it's time to smoke a "C"- gar.

[haymon]

Could it just happen please.

[cranman]

Ummmmmmmmmmm.  Does this mean I'm going to be wealthy?   Haha!

[Bama Girl]

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. 

[jake21]

that won't pass anytime soon 

 

[yota691]

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.