The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

White House economic adviser Larry Kudlow

The White House

Donald Trump's top economic adviser said the administration is considering pushing for a "capital gains holiday" in a new round of coronavirus aid.

"There may be a capital gains holiday," Larry Kudlow, director of the U.S. National Economic Council, told Fox Business on Monday.

Cuts to capital gains disproportionately affect extremely wealthy individuals. In 2018, 69 percent of all reported capital gains went to the one percent of households with incomes above $750,000. Capital gains are already taxed at a much lower rate than regular income.

From the July 13 edition of Fox Business' Varney & Co.:

STUART VARNEY, Fox Business: Can you be specific and tell us what we're likely to see?
LARRY KUDLOW: Well, I don't know that I can be totally specific. We're looking at a lot of things, it's pre-decisional. Formal talks haven't really begun.
But look, certain things the president has said — for example, he wants a payroll tax holiday, that would give about a 6.5% increase to after-tax wages for people either going back to work or have been working all the time.
We'd like to see some unemployment reforms. We like return to work type bonuses of a modest nature. We don't want to give people disincentives not to work.
There may be extensions to PPP, that's to be decided. There may be some targeted, directed assistance from direct-mailed checks to individuals and families — that hasn't been decided yet.
There may be a capital gains holiday, there are a number of items that we've talked about publicly and the president has mentioned. So at the moment. that's kind of the grab bag.




Published with permission of The American Independent Foundation

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Sen. Bernie Sanders

Sen. Bernie Sanders said that by vowing to uphold the archaic Senate rule standing in the way of voting rights legislation, his Senate colleagues Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ) are putting "the future of American democracy" at risk.

"It is a sad day when two members of the Democratic caucus are prepared to allow the Freedom to Vote Act to fail," the Vermont senator tweeted on Friday "I hope very much they will reconsider their positions."

Keep reading... Show less

White House Press Secretary Jen Psaki and Fox News' Peter Doocy

White House Press Secretary Jen Psaki ended the week with yet another smack down of Peter Doocy, as the Fox News reporter admitted there are Republicans who "don't agree with voting rights."

"As you talked about a year ago and working with Republicans, now [President Biden] is talking about Republicans that don't agree with voting rights," Doocy complained, "he's describing them as George Wallace, Bull Connor, and Jefferson Davis. What happened to the guy who, when he was elected said: 'To make progress me must stop treating our opponents as our enemy'?"

Keep reading... Show less
x
{{ post.roar_specific_data.api_data.analytics }}