During a press conference from the Oval Office yesterday, Trump doubled down on his commitment to removing taxes on capital gains on home sales. “We’re thinking about that,” Trump told reporters while hosting Philippine President Ferdinand Marcos Jr. at the White House at the start of his three-day visit.
The capital gains tax exemption lets sellers exclude $250,000 in profit ($500,000 for couples) on the sale of a primary residence. But these limits have never been tied to inflation. Since their introduction in 1997, home prices have climbed more than 260% nationally.
Trump conceded that “lowering the interest rates” would do wonders for the market, taking another dig at the Federal Reserve Chair Jerome Powell. “If the Fed would lower the rates, we wouldn’t even have to do that,” he said. "But we are thinking about no tax on capital gains on houses."
And all the left wants to do is raise taxes everywhere and anywhere they can, so I gotta ask: Why are so many people still calling themselves Democrats, when doing that works against their own best interests. Makes no sense at all...
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based on what we have had uncovered by doge, why is there any talk on raising taxes with so much fraud and grift going on.
ReplyDeleteYes it makes no sense. More of the Chickens for Colonel Sanders; queers for Gaza; Jews for Islam; Women for Sharia; and in this case Working People for Democrats. You cant fix stupid.
ReplyDeleteLower taxes? Tariffs are not lower taxes, we the consumer pay for those.
ReplyDeleteWhy is my Social Security not taxed (too little) but my friends state retirement is taxed for the same amount?
ReplyDeleteTaxes are meant to run the government not enrich politicians and their cronies.
ReplyDeleteCapital gains is just another tax that should be sent to File 13 and never heard from again. From small business to large businesses it's just another way for the government to steal what we've worked all our lives for.
ReplyDelete