What Is The Long-Term Capital Gain Rate On Sold Stocks Tax Cuts for the Wealthy Through Indexation

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Tax Cuts for the Wealthy Through Indexation

Recently, there has been a heated debate about an additional tax cut that will benefit, for the most part, the richest 1% of the population. According to multiple sources, the Trump administration is considering whether an additional $100 billion in tax cuts through capital gains indexation can be implemented without congressional approval. While additional tax cuts may be great for the wealthy, the widening tax gap will need to be filled with something. Some fear that tax cuts will mean cuts in other benefits (such as Social Security, Medicare, and Medicaid) moving forward.

To put all this into perspective, let’s look at how indexing works. For example, if you bought a stock for $200.00 in 1980 and today the stock is worth $600.00. Instead of paying income taxes of $400.00 (under current tax law), the purchase price will be adjusted for inflation to $420.00. This means that taxes will only be charged on $180.00. The idea is to stimulate economic growth in line with the supply-side economic theory of creating jobs through investment by helping the rich save more.

Although the economic theory of supply is theoretically sound, there is little historical evidence to support the positive economic results of the application of the theory of supply. At least not for the bottom 90% of the population. According to JG Gravelle (2018), a senior economic policy specialist at the US Congressional Research Service, “Indexing capital gains will not stimulate new investment, but rather stimulate savings. changes in rates of return.”

Tax savings are always big for the wealthy, but for the other 90% percent of Americans, it always seems like they pay the price. Also, at a time when wealthy multinationals and individuals are posting record profits, the public’s support for such tax cuts seems dubious at best. Also, wouldn’t it be nice to hear about tax cuts for the rest of America. It seems that this would provide a greater stimulus to economic growth than providing more investment (savings) opportunities for the wealthy.

If you need help with your tax liability, capital gains tax, tax planning, or have additional questions, please call 866-606-3570 or visit our website @ [http://www.advantagetaxdebthelp.com]. You will be connected to a licensed tax professional who has the skills and experience to provide you with the best possible solution offered by the Internal Revenue Service.

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