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Key:
Admin,
Global Mod,
Mod
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Joined: Aug 2001
Posts: 81,844 Likes: 513
GUVNER
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GUVNER
Joined: Aug 2001
Posts: 81,844 Likes: 513 |
I dont know if he can do that without congress. BREAKING: President Trump is weighing a cut to capital gains taxes ahead of midterm elections, per Bloomberg.
There has not been a major cut to capital gains tax rates in the US since 2003.
This would have massive implications if implemented. https://x.com/KobeissiLetter/status/2087317646375067832
"Never Trust Government" -- Smart people.
"The Great thing we should Fear and the Weird Thing we Trust is Elon Musk" -- Me
"You can be broke but you cant be poor." -- Ruthie-May Webster
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Joined: Jan 2014
Posts: 1,085 Likes: 60
6 point
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6 point
Joined: Jan 2014
Posts: 1,085 Likes: 60 |
He better have a lot more than that up his sleeve if he wants to save the midterms.
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Joined: Dec 2013
Posts: 28,327 Likes: 565
a.k.a. Dingle Johnson
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a.k.a. Dingle Johnson
Joined: Dec 2013
Posts: 28,327 Likes: 565 |
That's great, but it will really only appeal to well to do white people, which are already the Republican base.
Federally legalize weed if he wants to attract new voters to the party.
"When I say ever thing I mean ever thing." - Frankie
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Joined: Nov 2005
Posts: 8,192 Likes: 113
14 point
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14 point
Joined: Nov 2005
Posts: 8,192 Likes: 113 |
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Joined: Jan 2013
Posts: 20,341 Likes: 28
Freak of Nature
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Freak of Nature
Joined: Jan 2013
Posts: 20,341 Likes: 28 |
He better have a lot more than that up his sleeve if he wants to save the midterms. The midterms were saved by democrats being complete bafoons minths ago.
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Joined: Jan 2001
Posts: 14,897 Likes: 92
Booner
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Booner
Joined: Jan 2001
Posts: 14,897 Likes: 92 |
That's great, but it will really only appeal to well to do white people, which are already the Republican base.
Federally legalize weed if he wants to attract new voters to the party. Will be spun as another "tax cut for his billionaire friends"; but I would love too see it.
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Joined: Feb 2019
Posts: 5,824 Likes: 26
12 point
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12 point
Joined: Feb 2019
Posts: 5,824 Likes: 26 |
You all are complaining about capital gains going away? I don't get it.
“If you do not conquer self, you will be conquered by self.” Napoleon Hill
The most difficult thing to understand during conversation is silence. Thoreau
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Joined: Apr 2000
Posts: 4,044 Likes: 8
10 point
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10 point
Joined: Apr 2000
Posts: 4,044 Likes: 8 |
Meanwhile the deficit is at $2 trillion. These people are so clueless.
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Joined: Feb 2002
Posts: 46,042 Likes: 231
Freak of Nature
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Freak of Nature
Joined: Feb 2002
Posts: 46,042 Likes: 231 |
You all are complaining about capital gains going away? I don't get it. Blue sky bitches.
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Joined: Aug 2001
Posts: 81,844 Likes: 513
GUVNER
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GUVNER
Joined: Aug 2001
Posts: 81,844 Likes: 513 |
You all are complaining about capital gains going away? I don't get it. The complaint is that Trump is using this as vote getting bait. If he was serious about doing it he would have started the process on inauguration day. He knows full well that the Dems and tax dependent RINO's will never let it pass through congress so he can blame them come election day.
"Never Trust Government" -- Smart people.
"The Great thing we should Fear and the Weird Thing we Trust is Elon Musk" -- Me
"You can be broke but you cant be poor." -- Ruthie-May Webster
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Joined: Dec 2013
Posts: 28,327 Likes: 565
a.k.a. Dingle Johnson
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a.k.a. Dingle Johnson
Joined: Dec 2013
Posts: 28,327 Likes: 565 |
You all are complaining about capital gains going away? I don't get it. The complaint is that Trump is using this as vote getting bait. If he was serious about doing it he would have started the process on inauguration day. He knows full well that the Dems and tax dependent RINO's will never let it pass through congress so he can blame them come election day. So you're saying it's a smart move.
"When I say ever thing I mean ever thing." - Frankie
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Joined: Aug 2001
Posts: 81,844 Likes: 513
GUVNER
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GUVNER
Joined: Aug 2001
Posts: 81,844 Likes: 513 |
You all are complaining about capital gains going away? I don't get it. The complaint is that Trump is using this as vote getting bait. If he was serious about doing it he would have started the process on inauguration day. He knows full well that the Dems and tax dependent RINO's will never let it pass through congress so he can blame them come election day. So you're saying it's a smart move. If it get''s the R's more votes at the midterms its a smart move. If he had been working on it from Day 1 and got it done the mid-terms would already be locked up. Now it looks desperate.
"Never Trust Government" -- Smart people.
"The Great thing we should Fear and the Weird Thing we Trust is Elon Musk" -- Me
"You can be broke but you cant be poor." -- Ruthie-May Webster
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Joined: Apr 2000
Posts: 4,044 Likes: 8
10 point
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10 point
Joined: Apr 2000
Posts: 4,044 Likes: 8 |
Trump said he was going to bring prices down. Sounded good two years ago but when you write a check your ass can't cash, it comes back to bite. Prices are up more and gas is too. Folks vote with their wallets.
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Joined: Aug 2001
Posts: 81,844 Likes: 513
GUVNER
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GUVNER
Joined: Aug 2001
Posts: 81,844 Likes: 513 |
Here is more...
BREAKING: President Trump's capital gains tax cut discussions include "indexing" capital gains for inflation BEFORE taxes are calculated.
This would mean that taxes would be applied on gains adjusted for inflation.
For example, if you purchased a stock for $100,000 and sold it 5 years later for $200,000.
Under the current system, you would owe capital gains taxes on the full $100,000 gain.
But, if cumulative inflation over those 5 years was 20%, your inflation-adjusted cost basis would rise to $120,000.
This means you would only owe capital gains taxes on the $80,000 REAL gain, rather than the $100,000 nominal gain.
Trump has also suggested exemptions for sales of homes worth $2 million or less from capital gains taxes.
We expect more details soon.
"Never Trust Government" -- Smart people.
"The Great thing we should Fear and the Weird Thing we Trust is Elon Musk" -- Me
"You can be broke but you cant be poor." -- Ruthie-May Webster
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Joined: Sep 2003
Posts: 13,162 Likes: 196
Doing the best I can.
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Doing the best I can.
Joined: Sep 2003
Posts: 13,162 Likes: 196 |
The part about adjusting for inflation makes sense to me.
The true mark of a man is not how he conducts himself during times of prosperity, but how he conducts himself during times of adversity.
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Joined: Jan 2001
Posts: 14,897 Likes: 92
Booner
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Booner
Joined: Jan 2001
Posts: 14,897 Likes: 92 |
Here is more...
BREAKING: President Trump's capital gains tax cut discussions include "indexing" capital gains for inflation BEFORE taxes are calculated.
This would mean that taxes would be applied on gains adjusted for inflation.
For example, if you purchased a stock for $100,000 and sold it 5 years later for $200,000.
Under the current system, you would owe capital gains taxes on the full $100,000 gain.
But, if cumulative inflation over those 5 years was 20%, your inflation-adjusted cost basis would rise to $120,000.
This means you would only owe capital gains taxes on the $80,000 REAL gain, rather than the $100,000 nominal gain.
Trump has also suggested exemptions for sales of homes worth $2 million or less from capital gains taxes.
We expect more details soon. Not optimistic on getting it done; but that would save me a lot of money. Have some equities I have held for 15-20 years.
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Joined: Nov 2005
Posts: 8,192 Likes: 113
14 point
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14 point
Joined: Nov 2005
Posts: 8,192 Likes: 113 |
The investment guys will fight it.
They love to keep your money locked up and blame it on taxes
I hope he can get it done
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Joined: Feb 2015
Posts: 8,276 Likes: 23
14 point
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14 point
Joined: Feb 2015
Posts: 8,276 Likes: 23 |
The majority of voters could care less about a reduction in capital gains. They want a reduction in gas, groceries, and utility costs. Even a Fox reporter admitted the Republican party has failed the middle class and that is the reason so many are voting for a socialist Democratic candidate. They want relief and a capital gains tax cut is just another benefit for the wealthy. David Crowley barely beat Francesca Hong to win the Wisconsin Democratic primary for governor. Abdul El-Sayed is the Democratic Socialist is now the Democratic candidate for Senate in Michigan. Wisconsin, Michigan, and Pennsylvania were the three swing states that elected Trump. And the margins in those three states was close.
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1 member likes this:
jmj120 |
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Joined: Nov 2011
Posts: 13,750 Likes: 257
Booner
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Booner
Joined: Nov 2011
Posts: 13,750 Likes: 257 |
The majority of voters could care less about a reduction in capital gains. They want a reduction in gas, groceries, and utility costs. Even a Fox reporter admitted the Republican party has failed the middle class and that is the reason so many are voting for a socialist Democratic candidate. They want relief and a capital gains tax cut is just another benefit for the wealthy. David Crowley barely beat Francesca Hong to win the Wisconsin Democratic primary for governor. Abdul El-Sayed is the Democratic Socialist is now the Democratic candidate for Senate in Michigan. Wisconsin, Michigan, and Pennsylvania were the three swing states that elected Trump. And the margins in those three states was close. Those were not disgruntled republicans voting for these socialist retards. Those were dumb democrats, voting for even dumber candidates. Like it is always said on here, "you cant fix stupid". Dems have cut their own throats on this one. I think traditional dems are going to have a really hard time voting for these ultra liberal, far left socialist candidates and that many will stay home rather than voting for someone reading from a communist playbook. If they do show up vote for them, just because they have a D by their name, then my second sentence in this post applies to democrats in general.
Last edited by abolt300; 08/12/26 10:24 AM.
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Joined: Jan 2003
Posts: 14,738 Likes: 64
Pope of Aldeer and Expert
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Pope of Aldeer and Expert
Joined: Jan 2003
Posts: 14,738 Likes: 64 |
Wish Trump would go ahead and cry so his tears could cure cancer so I could listen to Democrats cry about that too along with water being wet and socalism not being "bad" since it's never worked anywhere.
Support our country. Kill chickens.
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