Connect with us

Hi, what are you looking for?


GOP Donors Are About To Get Richer As Trump Plans To Bypass Congress And Give Them Another Tax Cut

The Trump administration is about to help rich Republican donors get a tax break as they look to bypass Congress to help Donald Trump’s chances at reelection in 2020.

According to Bloomberg, Trump is planning to sign a new executive order that would result in a cut to the capital gains tax, which largely benefits wealthy investors.

“Most of the benefits would go to high-income households, with the top 1% receiving 86% of the benefit, according to estimates in 2018 by the Penn Wharton Budget Model,” Bloomberg says. “The policy could reduce tax revenue by $102 billion over a decade, the model found.”

The cut would come in the form of indexing capital gains to inflation, which Bloomberg writes would “slash tax bills for investors when selling assets such as stock or real estate by adjusting the original purchase price so no tax is paid on appreciation tied to inflation.”

Looks like the wealthy will continue to get wealthier while the rest of will continue to struggle. All this thanks to Trump.

RELATED: Mitch McConnell Blocks Border Funding Bill Because It Calls For Better Treatment Of Migrant Children

Click to comment

You May Also Like


Last July, Turing Pharmaceuticals’ CEO Martin Shkreli became a lightning rod for growing outrage over soaring prescription drug prices after he raised the price...


Investigative journalist Daphne Caruana Galizia was assassinated in her native Malta after exposing a massive web of corruption through the “Panama Papers,” including a...


We know similar comments have been posted before, but the one below is, by far, the most comprehensive list I’ve seen: A Trump supporting...


The fact that the press is not reporting on the continuing violent rhetoric at Donald Trump’s rallies reflects an acceptance that is deeply troubling....

Copyright © 2020 ZoxPress Theme. Theme by MVP Themes, powered by WordPress.