Capital Gains: Republicans Planning ANOTHER Tax Cut For Rich

Tell us what you think in the comment section below.

"Conservatives are making a push to cut taxes on capital gains as a follow-up to the tax-cut measure President Trump signed into law last year.

Republican lawmakers and prominent conservative leaders such as Grover Norquist say they want capital gains to be indexed to inflation, saying it would give the economy a boost. They are pursuing both legislation and regulatory action in an effort to achieve that goal.
It’s unclear when or if it will happen, but conservatives are bullish about the possibility of a unilateral move by the Trump administration. They feel the odds have been bolstered by Larry Kudlow’s entry into the administration as National Economic Council director.”*

Hosts: Cenk Uygur, John Iadarola

Cast: Cenk Uygur, John Iadarola

***

Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. A young person who rebels against authority or societal expectations.(American Heritage Dictionary

[AFishBicycle]

Paul Ryan - “I won’t pass tax cuts and then retire! Baseless slander!”
*passed tax cuts*
“I’m retiring to spend time with my teenager.”

[cblain]

They need to keep taking for bigger excuse to take social security. People need to organize and rise up and stop this madness, vote them out!

[pamdemonia]

It never ceases to amaze me how the wealthy in this country go on and on about how The Poors need pull themselves up by their bootstraps and just work hard like they did yet they need to be protected by the govt from even the mildest macro economic winds!

[tracim]

This is what happens when you don't teach your citizens the important things like history and why taxes exist.

[theodorosgeorgitsis]

Democracy does not only give you the possibility to vote but also the responsibility to inform yourselve. If you vote time after time against your own interests, can you really blame the politicians and the system?

[byteresistor]

Every poor Trump voter think they'll going to be a future billionaire.

[Ekkie]

The greed Republicans display is mind boggling.

[andrewhoye]

They just don't get that cutting taxes on rich and taking from the middle class will hurt the rich down the track because no one is spending as much.

[ParanormalChannelYouTube-video]

The Republican and Democratic parties both feed out of the same bag provided by the monied system, and where the list frequently differs the same interests are represented.

[deflatedego]

Nice idea, but what spending would they cut to compensate.

[boblozaintherealworld]

I mostly agree with Cenk's rant, but let's not forget about working people as well in this conversation..

Example: My wife and I own a townhouse and out of pure dumb luck it now has some real equity. We are selling soon and will have a decent amount of cash which we will use as down payment on another. We have 18 months to do so without having to pay...you guessed it....capital gains tax. We are middle class and i run my own consulting business. some years we do well, some years barely make it. No complaints, but we are NOT upper middle class by any means. We also have some retirement investments...believe me it's decent but not huge and all the money came from our own pockets. Still it's invested and I''ve had to sell some off to make up for poor business earnings at times. And guess what...I get taxed on it IMMEDIATELY.

So yes it's true that the wealthiest among us want to be able to sell off stocks or investments or businesses that make them money with lifting a finger and don't want to pay taxes on that. Absolutely they are just greedy. But remember that sooner or later a lot us working types will be liable for some of the same taxes, and especially because most of us are not wealthy, we will FEEL it much more in our own pockets.

Just saying. Stay woke, people.

[wgjung]

Because rich people are the most punished people in capitalist society.

[TobiasMartochko]

HOW ARE WE GOING TO PAY FOR THAT?!?!?!

[aninfinateregressionanapot]

This is going to make the markets more volitile and more easily manipulated by billionaires. Government corruption at it's finest...

[caracrabtree]

I'd wish they'd look at inflation and how our income cannot cover basic living even working overtime...and actually give a shit...

[afroslacker]

"You show me a capitalist, and I'll show you a bloodsucker" - Malcolm X

[jessetorres]

I read once that if you proportion the U.S. population to 100 people, of the bottom 50 people, only 6 of them have the funds to be actively investing in the stock market. Just to help put this tax cut in perspective and it's impact on the poor and middle-class.

[nags]

as an upper middle class person that has a rental house i can finally support a tax cut from trump.

[rahulshah]

To pay taxes on your wealth devaluing because of time isn't fair either. I kinda agree with this, but.... imagine the effect on 401k. And our poor budget. I may like the idea, but we gotta pay bills.

[bwl]

Why stop at one tax when you can have 3 or 4? They plan on losing at the midterms already so they need to hurry up and pass as much as they can. But If corporate Dems get their way this would go through anyway.