Tax Guru – Ker$tetter Letter

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Posted by taxguru on September 9, 2001

Is Bush Serious About Reducing Capital Gains Taxes?

While he claims to want to reduce the tax on capital gains, how he approaches this will show whether he is serious or not. If he asks Congress to cut the rate, he is no more sincere on this issue than his father was. We have a case of deja vu here. Bush-43 has the exact same opportunity that his father refused to accept; to cut capital gains taxes all by himself by just redefining the term “cost basis” to allow the cost of assets to be adjusted for inflation when reporting their sale. I have a much more detailed discussion on my website.

KMK

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