There is significant support for indexing capital gains taxes to inflation including almost two dozen Senators, the Vice President, the President’s Chief Economic Advisor, conservative leaders, and business groups.
The present capital gains tax is particularly brutal to older Americans who bought a home, built a small business or invested in the stock market before the hyperinflation of the late 1970s.
Indexing capital gains taxes to inflation would benefit Americans across the country from workers saving for retirement to farmers and ranchers selling off a parcel of land to acquire capital for new equipment and machinery that would help grow their family business.
Inflation makes up a significant portion of capital gains taxes paid.
capital gains tax Indexing Capital Gains Taxes to Inflation Would Benefit Americans Across the Country | |
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