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sdholloway56
Senior Advisor

Tax reform

take the capital gains rate to the same level as ordinary income, but index it to inflation. CPI is imperfect but it is an agreed upon number and simple calculation. Probably give a small exemption for the coupon clippin' crowd.

If someone has a long held asset they shouldn't have to pay the inflation tax. If somebody makes a windfall in a year from hedge fundin', private equityin', house flippin' etc. then what prupose is served by rewarding it with a lower tax rate than work?

Repeal "the death tax" but require estates over $2M to file a final income tax return and settle up the untaxed capital gains, also on an inflation indexed basis.

3 Replies
bruce MN
Advisor

Re: Tax reform

Keep an eye on the filibuster developments. 

There is actually a considerable amount of decent tax reform in the bill that just passed. 

I’m not quite sure what happens to GOP (or GQP) politics if this narrow Senate majority keeps passing stuff that 70% of the public seems to like and approve of.

Any one on one’s I’ve encountered who want to “talk politics” are only interested in talking about Dr. Seuss, mask Nazis, the NY Governor and generic whattaabout stuff.

Those numbers that show the very high % of self identified Republicans/conservatives with incomes in the lower half who support the Bill passed this week is startling.

 

 

r3020
Senior Advisor

Re: Tax reform

Yeah Bruce, I'm sure the whole country is ready for a carbon tax. And gun tax. And ammunition tax.

sdholloway56
Senior Advisor

Re: Tax reform

You should be proud to have blazed the trail for prattling inanities.