President Donald Trump Considering Another Round Of Tax Cuts For The Rich | Velshi & Ruhle | MSNBC

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President Donald Trump Considering Another Round Of Tax Cuts For The Rich | Velshi & Ruhle | MSNBC
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rule tax cut tracker why the wealthiest taxpayers in America consume get another tax break the treasury is considering a change the capital gains tax that would result in a 100 billion dollar according to the New York Times before we can discuss the pros and cons of property we tax capital gains based on the difference between the purchase price and the sale price of an asset the sale price is called cost and current rules allow for investors to recoup that sales price the cost the cost is taxed at a rate of 2 3.8% if you invested a cost of a million bucks in 1990 and sold it for $3 this year that’s two million will the treasury Department can change the definition of cost when calculating the Capital game I’m about 2 million in today’s inflation-adjusted dollars that means the investor would only half as much 255 thousand bucks in taxes difference of 220 Grande and that’s tax dollars to Treasury Department loses out on this kind of change could result in an estimated 100 billion even deeper the hole that they are already in from the last round of tax cuts which again mostly benefit the wealthiest Americans and Allie we have to just hold that down it hurt them because if you reduce tax revenues these other than everybody comes out and says we got to cut this week at welfare we got to cut Social Services so he could help but it’s broadening the Gap that we’re trying to narrow right between the rich and the poor against trade deficits and he basically ignores budget deficit in 2017 are still not paid for there’s this Republican idea that if you cut taxes it’s going to even if it’s for some growth not enough the corporate tax cut this far have not trickle down to the American worker in large part they result in stock BuyBacks who does that serve to shareholder who does capital gains adjustments to the shareholder entire tax system is based around preserving money for the wealthy right and work at Labor gets packed more than wealth does if you have Assets in your capital gain your tax rate is lower than if you just work for it so this is just a perpetuation of a problem we’ve had if you wanted yours in America it’s supposed to be getting better it’s getting worse campaign against Oculus Lee it’s stayed in the tackle and now here we are again and it’s just it’s certainly a gift to the donor class on that button down there and click on any of the videos here to watch the latest interviews and highlights you can get more MSNBC for free every day with our newsletters just visit newsletters to sign up now
The president is considering new tax cuts for the rich. Ali Velshi and Stephanie Ruhle break down why this round of tax cuts would only benefit the wealthy.
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President Donald Trump Considering Another Round Of Tax Cuts For The Rich | Velshi & Ruhle | MSNBC

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