Indexing Costs For Inflation
Posted by taxguru on September 13, 2006
Andrew Roth at Club For Growth had this post on another attempt by some of our rulers in DC to allow people to adjust the cost basis of the assets they sell for increases in the cost of living so they are not forced to pay tax on inflation.
This is a topic that I have been commenting on for decades, including this piece, where it had been determined that the President has the power to make this change by executive order rather than having to hope it makes it through the entire legislative process. That was written back when Bush 41 was in charge.
Unfortunately, Bush 43 is just as scared to confront the Dems with this kind of “in your face” action as his father was; so it will be demagogued by the libs as just another “tax break for the evil rich” and it will die on the vine during this campaign season when gut-less politicians of both parties refuse to stand up for what is right and fair.
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