politics

The most interesting part of this is the timing. 11 months since the trump admin did the largest pump and dump in human history during the great tariff terror of 2025. I was there watching markets drop 5-7% a day for a week. I was there when my accounts got major margin calls at the low. I was there when trump tweeted on truth social and the markets rose 20% in one day and almost 100% over the next 6 months.

So I know a $200 Billion capital gains tax relief package when I see it! More tax cuts for the rich. Congress has no hopes of passing it so they are hoping the president can wave his magic wand and cough up $200B

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I think we maybe need to force these idiots watch School House Rock again.

Maybe their voters, too.

The plan pushed by Cruz and Scott has been sought by conservatives for many years. Under current law, an investor who bought $100 worth of stock in 1990 and sold it today for $300 would currently owe capital gains taxes on the full $200 in profit. But the $100 investment in 1990 would be worth roughly $230 in today’s dollars after accounting for inflation. Under the Cruz-Scott proposal, the investor would only owe taxes on that $70, rather than the full $200. That is why the proposal is known as “indexing capital gains for inflation.”

Ah, so the ultra-wealthy who have been holding during the longest bull market in history can get a massive discount for dumping on us peons?

Can we please replace the congressmen who don't understand what their job description is?

I always wonder whether people who talk like this are employing ineffective rhetoric or if they genuinely believe Ted Cruz just doesn't know Congress holds the power of the purse. He understands what his job description is. They all do. You're the one playing the wrong game. They want authoritarianism, they want to concentrate power, they want to destroy democracy, they want you to suffer, they want people to die. This isn't hyperbole, they're just evil. Stop whitewashing what they believe and call them out for the demons they are. Ted Cruz wants the President to have unchecked power. He wants Trump to cut hundreds of billions of dollars from taxes without Congress. He wants it to be easier to do bad things and harder to do good things. We cannot afford to be this fucking smug about the people putting us in camps.

Ancient Rome before the fall of the Republic is eerily similar. Only difference is, we don't have Caesar and Pompey. We instead have a chuckle Fuck who rapes children and is the single dumbest person alive.

I do not like that man Ted Cruz,
I do not like his far-right views.
I do not like his stupid chin,
I do not like his smarmy grin.
I do not like him with a beard,
I do not like him freshly sheared.
I do not like Ted Cruz at all,
That man Ted Cruz can suck my balls.

Someone should just give dude the biggest wedgie possible. Fucking loser.

The senators also frame the proposal as a potential solution to the nation’s housing market, arguing that many homeowners are choosing to stay in their properties rather than sell and face a steep capital gains bill.

If the sale results in less than $250k in profit it's already tax free. It goes up to $500k for joint filers. This doesn't help the average person, just like eliminating the inheritance tax wouldn't help us either.

What does congress even do anymore?

index capital gains to inflation

is a ridiculous idea, but one that should be shot down in congress.

Far more revenue would be generated for society if there was no capital gains tax advantage at all instead of giving another huge advantage to investor class. This is a better idea than wealth taxes. To avoid the double taxation argument, allowing corporations to deduct dividend payments would still raise extreme revenue, with dividend income taxed the same as other income. It would also improve dynamic capital allocation as more funds flowing to investor class would permit them to support newer, more promising, investments.

Corporatist supremacy oppresses the investor class. This tax change would mean less dividends paid because it would be an even greater tax advantage to boost corporate share prices instead of ever paying back investors

Do you think congress may have forgotten how their job works?

Cruz knows. He's just sucking up to Trump and doing all he can to further enable dictatorship.

They might have been able to do it but Noem blew it all on personal advertising.

Do American care about another few hundred billion in debt? The interest on past debt is a trillion dollars, Biden proposed a 4T Infrastructure Investment and Jobs Act, which the interest on that would be more than 200b.

Every politician takes on more debt than the last, so I assumed Americans don't care about debt loads.