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Do you think congress may have forgotten how their job works? Like I remember learning the importance of congress in middle school. Power of purse and all that. Why is the congress petitioning the president for legislation? Can we please replace the congressmen who don’t understand what their job description is? Every day in the news its just “Legislator asking someone else to do their job” “Legislature confused on how laws are made” “legislator claiming the presidents office is just better at making laws”

  • hark@lemmy.world
    16·
    22 hours ago

    The plan pushed by Cruz and Scott has been sought by conservatives for many years. Under current law, an investor who bought $100 worth of stock in 1990 and sold it today for $300 would currently owe capital gains taxes on the full $200 in profit. But the $100 investment in 1990 would be worth roughly $230 in today’s dollars after accounting for inflation. Under the Cruz-Scott proposal, the investor would only owe taxes on that $70, rather than the full $200. That is why the proposal is known as “indexing capital gains for inflation.”

    Ah, so the ultra-wealthy who have been holding during the longest bull market in history can get a massive discount for dumping on us peons?

    • TronBronson@lemmy.worldOP
      6·
      14 hours ago

      Yes, and remember only about 40% of the country had stocks, and most of them are in the hands of 10%. So grandma might get a lil tax break and bezos gets a big one.

      They are kind of stuck in a paradox though because they are causing so much fucking inflation that the stock market is really the only place to keep money. Idk where they’re going to stick cash from selling stocks. Could be a market crash on the horizon a planned one.

      I really don’t think these guys want off the inflated asset train so I’m kinda more suspicious on this particular handout