Trump administration considering tax break on capital gains


(Worthy News) – The Trump administration is studying the idea of implementing a big tax break for wealthy Americans by reducing the taxes levied on capital gains, but no decision has been made yet on whether to proceed.

Administration officials said Tuesday that Treasury Secretary Steven Mnuchin prefers deferring to Congress. But he does have his department studying the economic impact of such a change and the legality of proceeding without congressional approval.

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 adjusting for inflation. [ Source: Fox News (Read More…) ]

15
people are currently praying.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📱 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Discuss this article in our forums

Follow us on X
Join the Truth Social discussion

Latest Worthy News

Gabbard Says U.S. Funded More Than 120 Overseas Biolabs, Including Facilities in Ukraine
Iran Denies Role In Albania Resort Protests Amid EU Concerns (Worthy News Investigation)
UNRWA Fires 70 Gaza Employees Amid Mounting Scrutiny Over Hamas Ties
Israel Strikes More Than 70 Hezbollah Targets in Southern Lebanon
Funeral for Slain Iranian Supreme Leader Set for July 4 in Defiant Message to America
US, Iran Reportedly Days Away From Nuclear Deal Requiring Tehran To Surrender Enriched Uranium
Pentagon Releases Third Batch of Declassified UFO Files, Including ‘Potato-Shaped’ UAP Account
Democrat Party Shifts Further Left as Sanders-Backed Candidates Rack Up Primary Wins
U.S. Strike Kills Tren de Aragua Leader in Venezuela Operation
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News