President Donald Trump at a White House briefing (screengrab)
President Donald Trump on Monday again floated the idea of a capital gains tax cut in response to the coronavirus economic crisis.
Catherine Rampell, a Washington Post columnist, noted that would do little to help Americans as the richest Americans would receive the vast majority of the benefits.
"Want to know whom this would benefit? In 2019, the richest 1 percent of tax filers reported *three-quarters* of all long-term capital gains," she noted.
Want to know whom this would benefit? In 2019, the richest 1 percent of tax filers reported *three-quarters* of all… https://t.co/InfXkTYt2x— Catherine Rampell (@Catherine Rampell) 1597098240.0
Here's what others were saying about the idea:
@TeamTrump @realDonaldTrump Capital gains does nothing for middle class - capital gains only benefits the very rich… https://t.co/zGusTVbIRl— Silver Eagle (@Silver Eagle) 1597097849.0
Trump talks again about a capital gains tax cut, which he has previously called “elitist”— Jeff Stein (@Jeff Stein) 1597097519.0
Millions are out of work Millions can't afford rent or their mortgage Schools don't have enough resources There'… https://t.co/g4nnFkOCs3— Lily Adams (@Lily Adams) 1597098194.0
Trump floats more tax cuts for "the middle class" before the election and says "we’re looking very seriously at a c… https://t.co/oEN6Ns1KCt— Eli Stokols (@Eli Stokols) 1597097539.0
For anyone surprised by this: he's just replaying his historically successful hits. He's desperate, trying to remem… https://t.co/WCUajxfysI— Elizabeth Spiers (@Elizabeth Spiers) 1597097758.0
It is hard to imagine anything less helpful to most of those impacted by the COVID crisis than a capital gains tax… https://t.co/fC4FWTH6Xy— David Rothkopf (@David Rothkopf) 1597097429.0
Translation: We are looking into giving more tax cuts to the Super Rich. Sorry poor people, he got nothing for you.… https://t.co/UXVsmwmfgP— masks save lives 😷 (@masks save lives 😷) 1597097512.0
A grotesque scheme to help his rich cronies loot more from the government & economy as the nations suffering escala… https://t.co/NoMS80gMLg— Philip Gourevitch (@Philip Gourevitch) 1597098732.0
Trump is talking about Capital Gains tax cut. That is a rich persons tax he is going to cut.— REESUS PATRIOT™💙 (@REESUS PATRIOT™💙) 1597097437.0
Payroll tax holiday and a capital gains tax cut. Seriously? I'm no Piketty, but I don't think either of those jac… https://t.co/v0jq6bPXdc— Cassandra of Troy (@Cassandra of Troy) 1597097893.0
Alice in Wonderland is at the podium. People can’t feed their kids, are worried about losing their homes, worried… https://t.co/EqCQjKoeTq— Karen Farber (@Karen Farber) 1597098168.0
it’s all the real americans at the country club are talking about https://t.co/TiMPpnLk7r— kilgore trout (@kilgore trout) 1597097662.0
This is going to mean sooooooo much to the people who can barely afford to pay rent or eat. Once again, anything Tr… https://t.co/xrctWRjfNY— T.D. (@T.D.) 1597097444.0
