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Sweeping Reform Would Tax Capital Gains Like Ordinary Income
• By Steve Wamhoff
Sen. Ron Wyden of Oregon, the ranking Democrat on the Senate Finance Committee, announced that he would soon release a proposal to eliminate massive tax breaks enjoyed by the wealthy on their capital gains income. If successful, the proposal would ensure that income from wealth is taxed just like income from work.
Why We Should Talk about Progressive Taxes Despite Billionaires’ Objections
• By Jenice R. Robinson
It was the tone-deaf remark heard ‘round the world. Last week on CNBC’s Squawk Box, Commerce Secretary Wilbur Ross suggested that furloughed government employees who hadn’t been paid in a month could go to a bank and get a loan to make ends meet. This was not a gaffe. It’s hard to fathom how a […]
The Preferential Tax Treatment of Capital Gains Income Should Be Curbed, Not Substantially Expanded
• By Richard Phillips
For true believers in supply-side economics, however, one major flaw of the TCJA is that it did not further cut taxes for the wealthy by reducing capital gains tax rates. But now the Trump Administration is considering using executive action to remedy this by indexing capital gains to inflation for tax purposes.
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