Politics: White House: Trump isn't planning to reduce capital gains taxes 'at this time' - PressFrom - US
  •   
  •   
  •   

PoliticsWhite House: Trump isn't planning to reduce capital gains taxes 'at this time'

04:40  12 september  2019
04:40  12 september  2019 Source:   thehill.com

Ted Cruz says he hopes to 'run again' for White House

Ted Cruz says he hopes to 'run again' for White House Sen. Ted Cruz (R-Texas) said Thursday that he hopes to "run again" for president after his failed 2016 White House bid. "Look, I hope to run again," Cruz told the Christian Science Monitor. "We came very, very close in 2016. And it's the most fun I've ever had in my life." 

Speaking at the White House , Mr. Trump said that the majority of his economic advisers supported the idea of reducing taxes on profits that investors earn “I’m not talking about doing anything at this moment,” he said. “Indexing is something that a lot of people have liked for a long time ; it’s something

A group of conservative organizations is pressing President Trump to take executive action to reduce capital gains taxes , since legislation to cut taxes is unlikely to pass in the new divided Congress.

President Trump is not planning to take executive action to reduce capital gains taxes, the White House said Wednesday.

White House: Trump isn't planning to reduce capital gains taxes 'at this time'© The Hill White House: Trump isn't planning to reduce capital gains taxes 'at this time'

"President Trump was thoroughly briefed on the complex economic, legal and regulatory issues, and concluded that at this time he does not feel enough of the benefits will go to the middle class," White House spokesman Judd Deere said.

The White House's comment comes after Trump met with his economic advisers to discuss the issue of whether to unilaterally index capital gains to inflation, therefore reducing the amount of investment gains subject to tax.

College student tried to hack into Trump’s taxes by creating a fake FAFSA application

College student tried to hack into Trump’s taxes by creating a fake FAFSA application He faces up to two years in prison for violating the Computer Fraud and Abuse Act.

Capital gains taxes are what you pay when an investment makes money. The administration is considering a plan that takes that inflation into account, so investors would report a " Capital gains are already taxed at a lower rate than other income," Burman said. "So you'd be adding a tax break

White House officials predict that investment growth will bounce back next year, driving further productivity gains and lifting wages for workers “What we expect to see from the second part of the tax bill, which is the lower cost to capital and the higher investment, is just higher wage growth that’s

Trump had given mixed messages on the topic in recent weeks. At one point last month, he said he was thinking about indexing capital gains, but then the following day said that doing so would be perceived as "somewhat elitist." Then the next week he retweeted Tweets that supported indexing capital gains.

A number of GOP lawmakers and conservative groups have been pressing Trump to take executive action to index capital gains ahead of the 2020 presidential election, arguing that doing so would boost the economy and help people across the income spectrum. And they have argued that Trump has the authority to do so because the Supreme Court has ruled that the term "cost" is ambiguous.

But Democrats have argued that Trump doesn't have the authority to bypass Congress and unilaterally index capital gains, citing a 1992 memo from the Department of Justice. They also argue that indexing capital gains would increase the deficit and would largely benefit the rich, pointing to an analysis from the Penn-Wharton Budget Model.

Peter Thiel’s VC Firm Mithril Capital Is Focus of Complaint to FBI.
Mithril Capital, a venture capital firm co-founded by Peter Thiel, is fielding questions from the U.S. Federal Bureau of Investigations following a complaint by a former employee, said a person familiar with the inquiry, who asked not to be identified. The FBI has questioned people close to Mithril Capital in recent months regarding possible financial misconduct at the firm, according to technology website Recode, which earlier reported the inquiry. Mithril Capital has roughly $1.2 billion under management and holds stakes in more than a dozen technology companies, including Palantir Technologies Inc., which was also started by Thiel.

—   Share news in the SOC. Networks

Topical videos:

usr: 1
This is interesting!