Friday, 28 June 2019

'Bypassing Congress' To Cut Taxes For Wall Street Again

'Bypassing Congress' To Cut Taxes For Wall Street Again

Hey guys, remember that time Prznint Stupid claimed the Billions-for-Billionaires Bill was going to raise the yachts of the middle class, and on average we got a 1¢ bonus? And against all odds, the billionaires made out like bandits, bigly?

Good times, huh?

And here we go again:

“President Donald Trump is considering bypassing Congress to cut capital gains taxes by changing the way they are calculated, Bloomberg reported Thursday, citing people familiar with the matter.

Ya think? Pelosi is sharpening her pointy stick even as I write this. The phrase to note here is bypassing Congress, which is some sort of journalism-ese (is too a wurd!) for Executive Order.

Pardon me, do continue.

“Under the plan, profits on investments would be indexed to inflation, Bloomberg reported. This would slash taxes primarily for wealthy investors selling assets like stock or real estate by not taxing income based on appreciation from inflation.

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