TRUMP WEIGHS NEW ROUND OF TAX CUTs in "SMASH & GRAB" for the 1% + EXPLODE DEFICITS

[Centerleftfl]

Let's ask the most obvious! WHY NOW? That'll help all those UNEMPLOYED AMERICANS and all those small business who don't have any employees now as MILLIONS will likely have to close their doors? ANOTHER TAX CUT FOR THE RICH!! TRUMP wants to tie CAPITAL GAINS taxes to INFLATION. So if you make your money from INVESTMENTS, not from EARNED INCOME, you'll be sure you get tax benefits adjusted every year.

The cut in YOUR payroll taxes to fund Social Security/Medicare is ABSOLUTELY INSANE! TOO BAD MINIMUM WAGE WASN'T TIED TO INFLATION OVER THE LAST 40 YEARS!

50 year treasury notes? Isn't that about DOUBLE? SOUNDS RECKLESS AND IRRESPONSIBLE!


Smash-and-grab economics’: Trump White House weighing tax cut for rich investors as workers and small businesses struggle

Published
40 mins ago on
April 6, 2020
By Jake Johnson

The Trump administration was condemned for considering “rewarding vulture capitalists profiting off a crisis.”

As desperate workers, the unemployed, and small businesses struggle to obtain benefits authorized under the multi-trillion-dollar coronavirus stimulus package President Donald Trump signed into law late last month, the White House is reportedly considering an additional slate of aid measures that critics say would disproportionately favor the wealthy while providing little relief for those most in need.

“A capital gains tax cut would be smash-and-grab economics with no value to the economic and medical calamity facing us.”
—Zach Carter, HuffPost

The Washington Post, citing two anonymous officials familiar with White House discussions, reported late Sunday that the Trump administration is weighing “a payroll-tax cut, a capital-gains tax cut, creating 50-year Treasury bonds to lock in low interest rates, and a waiver that would clear businesses of liability from employees who contract the coronavirus on the job.”

Slashing the capital gains tax, a move that would overwhelmingly reward rich investors, has long been an obsession of the Trump White House and congressional Republicans. Last year, as Common Dreams reported, Trump floated the idea of bypassing Congress to index capital gains to inflation, but never acted amid warnings that such a unilateral change would be illegal.

The Center on Budget and Policy Priorities estimated in a 2018 analysis that 86% of the benefits of indexing capital gains to inflation would flow to the top 1%.

https://www.rawstory.com/2020/04/sma...sses-struggle/


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[BattleofHodow]

Lisa Simpson predicted it 15 or so years ago.

Saying President Trump's debt crunch.

[Centerleftfl]

Lisa Simpson predicted it 15 or so years ago.

Saying President Trump's debt crunch.

It's batshit crazy!

[jimmymccready]

Won't get through the House.

Let's move on.

[PoliTalker]

Hello Centerleftfl,

Let's ask the most obvious! WHY NOW? That'll help all those UNEMPLOYED AMERICANS and all those small business who don't have any employees now as MILLIONS will likely have to close their doors? ANOTHER TAX CUT FOR THE RICH!! TRUMP wants to tie CAPITAL GAINS taxes to INFLATION. So if you make your money from INVESTMENTS, not from EARNED INCOME, you'll be sure you get tax cuts

The cut in YOUR payroll taxes to fund Social Security/Medicare is ABSOLUTELY INSANE! TOO BAD MINIMUM WAGE WASN'T TIED TO INFLATION OVER THE LAST 40 YEARS!

50 year treasury notes? Isn't that about DOUBLE? SOUNDS RECKLESS AND IRRESPONSIBLE!


Smash-and-grab economics’: Trump White House weighing tax cut for rich investors as workers and small businesses struggle

Published
40 mins ago on
April 6, 2020
By Jake Johnson

The Trump administration was condemned for considering “rewarding vulture capitalists profiting off a crisis.”

As desperate workers, the unemployed, and small businesses struggle to obtain benefits authorized under the multi-trillion-dollar coronavirus stimulus package President Donald Trump signed into law late last month, the White House is reportedly considering an additional slate of aid measures that critics say would disproportionately favor the wealthy while providing little relief for those most in need.

“A capital gains tax cut would be smash-and-grab economics with no value to the economic and medical calamity facing us.”
—Zach Carter, HuffPost

The Washington Post, citing two anonymous officials familiar with White House discussions, reported late Sunday that the Trump administration is weighing “a payroll-tax cut, a capital-gains tax cut, creating 50-year Treasury bonds to lock in low interest rates, and a waiver that would clear businesses of liability from employees who contract the coronavirus on the job.”

Slashing the capital gains tax, a move that would overwhelmingly reward rich investors, has long been an obsession of the Trump White House and congressional Republicans. Last year, as Common Dreams reported, Trump floated the idea of bypassing Congress to index capital gains to inflation, but never acted amid warnings that such a unilateral change would be illegal.

The Center on Budget and Policy Priorities estimated in a 2018 analysis that 86% of the benefits of indexing capital gains to inflation would flow to the top 1%.

https://www.rawstory.com/2020/04/sma...sses-struggle/


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Good luck getting that past the House.

But we can certainly give the prez high marks for audacity (as well as being the slickest con man ever...)