Republicans focus tax hike opposition on capital gains change

[Yo_Mama_Been_Loggin]

Republicans waging war against President Biden's proposed tax increases are increasingly focusing their opposition on one floated change to capital gains.

Biden has called for taxing capital gains at death as a way to raise taxes on the wealthy and help pay for his social spending proposals. GOP lawmakers, along with business groups and conservative organizations, argue such a move would hurt family-owned businesses and farms.

It's unclear how effective the GOP attacks will be, given that Democrats plan to include protections for family farms and small businesses in legislation based on Biden's plans. But Republicans think their messaging could be effective, given that some Democrats representing rural areas have also raised concerns about the proposal.

"I think rural and even suburban Democrats are understanding just how dangerous that proposal is," Rep. Kevin Brady (Texas), the top Republican on the House Ways and Means Committee, told The Hill on Thursday.

https://www.msn.com/en-us/news/politics/republicans-focus-tax-hike-opposition-on-capital-gains-change/ar-AAMwm6E

Won't someone think about the poor Trustafarians?

[Comfortably_Numb]

1. JFC.....the "family farms" argument. That's another zombie that just won't die.

[The Magistrate]

2. In 'Wealth of Nations', Sir

Mr. Smith considers taxing the transfer of an estate to its heirs the most practical and most appropriate means of taxing wealth, which he considers it the sovereign's right to do, and something persons who benefited from the protection of property the sovereign bestows owe to the commonwealth in return.

[Hoyt]

3. Plenty of ways to protect the family farm, assuming one actually exists.

Estate and Capital Gains taxes are good ways to increase taxes.