President Trump is seriously considering a tax cut that would be HUGE for every investor in America and that would put the already strong U.S. economy into overdrive – and he can do it on his own authority, without Congress.
Trending: An Open Letter to the Supreme Court
Will you help me get this tax cut to the finish line?
President Trump should direct Treasury Secretary Steven Mnuchin to define the term “cost” for capital gains tax purposes to include an inflation adjustment. This would ensure that only real gains are taxed whenever an asset is sold – not artificial gains from a devaluation of the dollar.
This would unlock trillions of dollars in the U.S. economy. It would also give Americans greater security when planning for their retirement, because inflation would no longer drive up tax liabilities on their assets.
Best of all, President Trump doesn’t need help from the dysfunctional Congress to get this done – there is a Supreme Court precedent that makes clear the word “cost” can be defined in a variety of ways, and therefore the Treasury Department can adopt an inflation-adjusted definition.
President Trump can do this with a simple executive order directing Secretary Mnuchin to move forward! Will you take a moment to end the taxation of phantom, inflationary gains?
If you have already signed your letter, please forward this to a friend. We are almost there; let’s make sure that we get this tax cut to the finish line! Thanks for all you do.
Phil, President, American Commitment
Your appeal really challenges me and while I appreciate the value of the formation of capital in the economy I am tempted to say “No” to this effort as it encourages inflation by the printing of more money on the excuse it is accounted for in patches of this kind. And believe me, this is a Bandaid on a cancer; the uncontrolled growth of currency.
While I am glad to know you are thinking of expansion I do not think this is the way to go about it.
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