1.4t tax cut, does it affect short-term gain, in other word your gain

Discussion in 'Economics' started by ggelitetrader000, Dec 2, 2017.

  1. I presume most traders will trade within a year incurring ST gain. Just glanced this over this morning, corp tax rate cut from 35->20% and some middle class individual earner has also their taxes cut. Any word from ST gain? I will update if i found anything.

    Senate passes $1.4T tax cut bill
    Senate Republicans preserved a permanent corporate tax- rate chop to 20%, from 35%, in squeaking past a reform bill early Saturday that must now be reconciled with the House version before being signed into law. The GOP measure, detailing $1.4 trillion in tax cuts, delays for one year the corporate reduction, while temporarily lowering individual rates for most middle-class Americans, according to The Wall Street Journal. Other highlights include retaining both the estate and alternative minimum taxes, while expanding exemptions under each; preserving a $10,000 deduction for state and local property taxes, and doubling the standard reduction. Pass-through rates for small businesses would also decline. In addition, the bill would open the Arctic National Wildlife Refuge to oil drilling, and repeal the requirement that individuals buy health insurance. But it would preserve the medical expense and student-loan interest rate deductions. In a final bid to secure the support of Susan Collins of Maine, who pushed for keeping the deductions popular with the middle class, GOP leaders promised to pursue legislation to shore up Obama-era health insurance exchanges. The lone GOP dissenter in the 51-49 vote, Bob Corker of Tennessee, objected to the cost of the package, estimated by a nonpartisan Congressional panel to be $1 trillion over a decade even after accounting for economic growth effects.
     
  2. Robert Morse

    Robert Morse Sponsor

    What did they do to the cap gains rate?
     
  3. piezoe

    piezoe

    Good question!!!
     
  4. Sig

    Sig

    Nothing I could find.
     
  5. Robert Morse

    Robert Morse Sponsor

    That is because the tax bill is fake news! :confused:
     
    Here4money likes this.
  6. Sig

    Sig

    We only wish!
     
  7. Robert Morse

    Robert Morse Sponsor

    I was hoping the election was fake news. I can wake up anytime now.
     
    Here4money likes this.
  8. only wish stuck @ 39 :(
     
  9. Here4money

    Here4money

    This will be my defense on my next audit.