GOP senators led by Ted Cruz call on Trump to bypass Congress to give rich Americans another tax cut

[TheBlackAdder]

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“This is the GOP long con in a nutshell. Trump blazes away with raw and hideous racism. Meanwhile, he and his party look for ways to ship yachtloads of cash to the super wealthy.”

A group of over 20 Republican senators on Monday urged President Donald Trump’s Treasury Department to bypass Congress to unilaterally hand the wealthiest Americans another massive tax cut.

In a letter (pdf) led by Sen. Ted Cruz (R-Texas), the GOP senators called on Treasury Secretary Steven Mnuchin to index capital gains to inflation, a move that would primarily reward rich investors.


Ben Wikler
‏Verified account @benwikler

This is the GOP long con in a nutshell. Trump blazes away with raw and hideous racism. Meanwhile, he and his party look for ways to ship yachtloads of cash to the super wealthy. Don’t let them get away w it.

Ted Cruz Demands Emergency Tax Cut for the Rich

Link to tweet

Chye-Ching Huang
‏ @dashching

Chye-Ching Huang Retweeted Alan Rappeport

This would add ~$100-200 billion to deficits
86% would go to the top 1%, with new loopholes for the wealthy.

And the Administration lacks legal authority to do it: https://www.cbpp.org/research/federal-tax/indexing-capital-gains-for-inflation-would-worsen-fiscal-challenges-give …

Link to tweet

https://www.cbpp.org/benefits-of-indexing-capital-gains-to-inflation-would-flow-almost-exclusively-to-the-top

https://www.rawstory.com/2019/07/led-by-ted-cruz-gop-senators-call-on-trump-to-bypass-congress-to-give-rich-americans-another-tax-cut/

Scumbags will be scumbags.

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[TheRealNorth]

1. I am thinking that they may think the stock market may be about to burst

Got to pump some more money in to keep the bubble from bursting before Election day.

[at140]

2. Career pols are puppets of

Their mega-doners. Orders must be followed
We need Elizabeth Warren more than ever!

[Faux pas]

3. Kickin' with disgust

[Me.]

4. "And the Administration lacks legal authority to do it"

[dalton99a]

5. The corruption is thorough and brazen.

[TheRealNorth]

6. How does one index Capital Gains tax to inflation?

I thought capital gains were taxed at a flat rate depending on the type of investment and any inflation is built into the profit that is taxed.

[oasis]

7. What kind of idiots thought Cruz was worthy of another term?