July 31, 2018
Donald Trump now thinks that a $1.5 TRILLION tax cut isn’t enough for his rich friends. So he’s floating a $100 BILLION regulatory maneuver that would further reduce the impact of the capital gains tax on the wallets of the wealthy. The capital gains tax, money paid when investments are sold at a profit, is already much lower than the income tax most working people pay. It takes Congress out of the equation completely and on top of that is a legally questionable proposal. Where is the plan to help Americans dealing with higher health care and housing costs, struggling to afford college and put healthy food on the table? This is an outrageous and irresponsible drain on the federal budget that will balloon the deficit even worse than it already is. There is just no end to Republican wealth redistribution in favor of those who need it the least.