To: President Donald Trump, The United States House of Representatives, and The United States Senate
End Stockmarket Tax Breaks
End the Tax Breaks afforded to those who "play" the Stock Market. No more write-offs for losses in the Market and full Tax Rates on income derived from winnings in the Market.
These breaks have very little to no benefit for the Average American and overly favor the Wealthy who by and large use a variety of loop-holes to avoid paying their full Tax Rates in the first place.
These breaks have very little to no benefit for the Average American and overly favor the Wealthy who by and large use a variety of loop-holes to avoid paying their full Tax Rates in the first place.
Why is this important?
Anyone who invests in the Stock Market and loses money, gets to claim that money off their Taxes, and not just for the year in which they lost money but can spread it over multiple years to reduce their Income Taxes, additionally they pay a very small tax on Capital Gains for those stocks which actually make them money and additional Tax Breaks for holding Stocks for a period of time. It's time to end these Perks for the Wealthy.
Why should average American's Taxes be used to cover the losses of those who choose to play the Stock Market and why shouldn't they pay their full Taxes on their Winnings?
It's time to end these policies which have virtually no benefit for the Average American Tax Payer and greatly benefit the Wealthy who by and large do not work but only play the Markets to make their money.
Enough is enough, everyone needs to pay their Taxes.
Why should average American's Taxes be used to cover the losses of those who choose to play the Stock Market and why shouldn't they pay their full Taxes on their Winnings?
It's time to end these policies which have virtually no benefit for the Average American Tax Payer and greatly benefit the Wealthy who by and large do not work but only play the Markets to make their money.
Enough is enough, everyone needs to pay their Taxes.