Trump Administration Considering Tax Break on Capital Gains

Associated Press |

WASHINGTON (AP) — The Trump administration is considering implementing a big tax break for wealthy American by reducing the taxes levied on capital gains, according to published reports.

The reports say the administration is considering bypassing Congress to put the change into effect, although such a move would almost certainly trigger court challenges.

The change would involve taxing capital gains — profits on investments such as stocks or real estate — after taking into account inflation, which would lower the tax bite. Capital gains taxes are currently determined by subtracting the original price of an asset from the price at which it was sold and taxing the difference without taking inflation into account.

The proposal was reported in The New York Times and The Washington Post.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Level Headed at World Crypto Con - Steve Beauregard

Bloq.com CRO Steve Beauregard joins Jack Brewer at World Crypto Con.

Emerging Growth

NXT-ID Inc.

Nxt-ID Inc provides products, solutions, and services that have a need for biometric secure access control. Its lines of business include mobile commerce; law enforcement and biometric access control applications…