Compare and Contrast
28th June 2019
Bloomberg: White House Considers Capital Gains Tax Break That Would Benefit Wealthy
Name a ‘capital gains tax break’ that would NOT ‘benefit wealthy’. Go ahead. I’ll wait.
An honest headline, one for a NEWS organization, would have been ‘White House Considers Capital Gains Tax Break’. But that’s not the important part, for Bloomberg; the important part is the ‘Benefit Wealth’. They have to stick that in there so you’ll know that the White House is Contemplating Evil. The fact is that any ‘tax break’ is going to ‘benefit wealthy’, because wealthy people are the ones who are paying most of the taxes.
CNN: Trump considers bypassing Congress to cut capital gains tax on wealthy, report says
This is even more dishonest. They might as well have used the headline ‘The Latest Evil Thing Trump Is Going To Do’. The focus here is not on benefiting the wealthy, although that notion gets a drive-by, but what a low-live MF that Trump is.
Any cut in the capital gains tax won’t just benefit the wealthy, but anybody who pays capital gains, including Aunt Minnie in Kenosha who is depending on withdrawals from her IRA in order to fund her retirement. Certainly wealthy people will get a disproportionate benefit, but that’s because wealthy people have more money to invest — and they do invest it; they don’t just stick it in a cupboard somewhere — and so they pay most of the capital gains taxes.
But, again, the focus is on Trump, and any stick they can find to beat him with (even if they have to build it out of distortions) will do.
This sort of crap is why people rate ‘journalists’ below even Congress in trustworthiness.