I think this plan will be very popular with the public, but the Republicans will not stand for it, further showing them to be in the vest pockets of the very well invested. The centerpiece of the plan, described by administration officials on the condition of anonymity ahead of the president’s speech, would eliminate what Mr. Obama’s advisers call the “trust-fund loophole,” a provision governing inherited assets that shields hundreds of billions of dollars from taxation each year. The plan would also increase the top capital-gains tax rate, to 28 percent from 23.8 percent, for couples with incomes above $500,000 annually. The proposal, which does not apply to charitable gifts, would fall almost entirely on the top 1 percent of taxpayers, administration officials said. It would apply to capital gains of $200,000 or more per couple, with an additional $500,000 exemption for personal residences.
Posted on: Sun, 18 Jan 2015 18:32:51 +0000
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