Reports: U.S. Treasury Considering Another Tax Cut For The Wealthy | Velshi & Ruhle | MSNBC

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Reports: U.S. Treasury Considering Another Tax Cut For The Wealthy | Velshi & Ruhle | MSNBC
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star for my favorite part of the show money power politics and we are on our tax tracker beat the New York Times and Wall Street Journal reporting the treasury Department is considering a change the capital gains tax that would result in a 100 billion dollar tax break for Guess Who currently on the difference between the purchase price and the sales price so that ass it for 3 million bucks in 2018 you would owe $476,000 on your capital gain index in capital gains when it just the purchase price for inflammation resulting in a huge tax cut 1990 would now owe $255,000 in taxes compared to 476,000 without adjusting for inflation that sounds nerdy we’re going to break it down joining me now health wealth management books and easy contributors Josh so they would use an executive order to do this one at the end of the day they have these massive corporate tax cuts we don’t yet know if they’re trickling down wages are not going up to the treasury Department is in a position where they’re coming out of your whole because the amount of money they have in corporations is low what would be the rationale for the American people to do this less than a year after the prior massive tax cut proposal and second we are nine years into an economic expansion so this kind of stimulus fiscal policy is absolutely unheard of you really can’t find example of it and I understand why they’re talking to doing it it’s been a dream of of the party for 30 years and frankly it’s not the most unfair thing in the world we index a lot of things to inflation so I’m not saying the timing just seems insane even the deficit there is a 21 club I’m going to lower your taxes Larry Kudlow has one wanting to do this forever but the Forgotten American didn’t beat the average worker out there how does the should have been part of it right and so if you’re going to have some sort of bipartisan approach to this sort of tax policy it should have been kind of a Tit for Tat 4.1 GDP print I think they realize that 2/3 has the potential to be a dud right in front of the midterm elections me think about this this is really geared towards the donor class right so they’re basically saying because if we lose the house we’re going to do it to me I think this is a hill that democrats should die on small you know at the end of the day that’s just really does belie the president’s populous message is really just kind of weird right towards the donors right into the test and there was that right then unless you own stocks during that 8 years and you were in the middle of this country you were screwed remain screwed and the administration is looking to help the door again I think it’s important point out that this did not originate under President Trump visited trying it’s been enforced for decades now will you just got this runaway inflation of asset prices in general you’ve got the policies toward the ATP people that are other people who donated from the stock market and CEO pay which is used to be campaign on the opposite Trump campaign saying I’m going to end all of this that he’s accelerating it being caught by that truck president I mean traditional Trump bass who is American thinks that they are a millionaire in Waiting that that. And I’m not saying this is a bad thing but Americans in general think if only this regulation only this would break an option I will one day be like mnuchin and I will one day want to have all the freedom and Liberties to pay low-tax so people have this kind of ambition I think it’s an eighth I think it’s in our DNA think about the people that came to this country this isn’t hurting the person who live who who’s on their wages but we keep not mentioning the budget deficit the president rails about trade deficit he’s going to leave in the fall or early next year and they’re going to be this massive deficit and so when you say that these conservative today we know how unpopular the 2017 tax but it’s getting increasingly more unpopular as we head into the midterm so I actually think this is really a bad mood we have never in the last half-century had a had a budget surplus other than two events right after the 1960 stock bubble and right after the 1999 stock bubble so we were so early 70s surplus of course I meant early 2000s from boom so if we’re going to get this situation where everyone rushes to sell assets that they’ve been sitting on forever and pay taxes like they did at the turn of the millennium actually there is a chance that could offset the ballooning deficit and then sit in my building but 30 years if you want a balanced or if you want a budget surplus unfortunately you need a stock market bubble years to amortize the tax payments to the treasury cape work with rope on YouTube if you want to keep up-to-date with the videos were putting out you can click subscribe just below me or click over on this list to see lots of other great videos
The rich in the United States are doing better than ever financially, so why would they need another tax cut? Stephanie Ruhle breaks down the latest on what the U.S. Treasury is now considering. Weighing in: Co-founder and editor of, Dan Nathan, and the CEO of Ritholtz Wealth Management, Josh Brown.
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Reports: U.S. Treasury Considering Another Tax Cut For The Wealthy | Velshi & Ruhle | MSNBC

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