Biden Dismisses Trump's Idea of Cutting Capital Gains Taxes

[applegrove]

Last edited Wed Aug 21, 2019, 10:03 PM - Edit history (1)

Biden Dismisses Trump’s Idea of Cutting Capital Gains Taxes

By Tyler Pager at Bloomberg

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2019-08-20/biden-dismisses-trump-s-idea-of-cutting-capital-gains-taxes

"SNIP.....

Democratic frontrunner Joe Biden on Tuesday dismissed President Donald Trump’s idea of lowering the capital gains tax as a way to stave off an economic downturn.

Biden said he would not speculate on whether the U.S. is headed toward a recession, but he said lowering the capital gains tax would not stimulate economic growth.

“What we should be doing is we should be focusing on how you re-empower the middle class,” he told reporters in Prole, Iowa. “We should be rewarding work, not just wealth. We should be raising the capital gains tax and cutting taxes for middle class people.”

While Trump insists the U.S. is “very far from a recession,” he and his economic advisers have been casting about for ways to cut taxes to bolster the economy amid signs of slowing growth that have roiled markets.


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[Cha]

1. KR!

[LonePirate]

2. Repubs truly are dumb as rocks if they think a capital gains tax cut will stave off a recession.

They clearly have no idea who pays capital gains taxes, let alone how much the typical middle class taxpayer would benefit from a cap gains tax cut - far closer to $0 than to $100, for instance.