No. of Recommendations: 4
Fresh off passage of the “One Big Beautiful Bill,” several conservative organizations and Republican lawmakers are preparing to ask President Donald Trump for another major tax cut — this time, potentially without congressional approval.
Currently, an investor who bought stock for $1,000 in 1980 and sold it for $10,000 today would owe capital gains taxes on the increase in value of $9,000. But under the proposal pitched by Norquist and others, the calculation would start by adjusting up the value of the original purchase to account for inflation — which would reduce the amount of gain that’s taxable after selling the stock.
https://www.washingtonpost.com/business/2025/07/10...
No. of Recommendations: 1
I never want to hear MAGA or GOP talk about fiscal responsibility, ever again.
The national debt is gonna balloon under the Dump(ster) fire.
As a Country, we are going to have to decide if we want any services from the Government,
if we are willing to pay for anything. People are going to be in for a rude awakening.
I personally like having a maintained highway system, roads and bridges, reliable
electricity, OSHA, FDA, things like that ( and many more ). Norquist and the boys
want to do away with all of it, and a bunch of citizens are salivating over the thought of
it.
No hiding for the W2 folks, they'll get taxed to the fullest extent possible. But
any of the so called Capitalist will just loophole their way out of paying every
possible cent that they can get away with. It'll still cost them bribes and lobbyist
fees, but way less than they'd pay with a fair and enforced tax system.
No. of Recommendations: 0
Tried to look at the article, but requires an account. Does this just apply to stocks, or do vacation homes and rental properties also get this treatment? Wondering how broad the tax break is.
IP
No. of Recommendations: 1
No details are given. Just that some conservatives like Norquist and Stephen Moore are advocating for it. They also claim the Treasury Secretary can make the change without Congress approval.
No. of Recommendations: 0
calculation would start by adjusting up the value of the original purchase to account for inflation
Any business can do that now--provided they do it *every* year. Whether individuals or non-business entities can do it will be up to the courts to decide--after the IRS says "NO".
