Salon.com: About 75% of Trump’s Proposed Coronavirus Capital Gains Tax Cut Would Go to the Top 1% of Earners
media mentionSteve Wamhoff, the director of federal tax policy at the liberal-leaning Institute on Taxation and Economic Policy (ITEP), argued that “proponents of capital gains tax breaks have always offered a weak argument that they encourage investment” but Trump’s proposal is more dubious given that it is only a temporary cut.
A temporary cut “is supported by no argument at all,” Wamhoff said, since “it would only reward investments made in the past while doing nothing to encourage new investment.”