4 Ways to Improve the Tax Bill
Bill
The Senate-passed tax bill  is a policy triumph that will provide a shot of performance-enhancing drugs to the veins of the economy.  It 's not perfect  but with the combined effect of cutting business tax rates  eliminating the state and local tax deduction and repealing the Obamacare individual mandate tax  we are at the precipice of the biggest conservative policy victory since the Reagan years.
If Republicans were wise  the House would vote immediately to approve  the Senate bill  and get  it  to President Donald Trump's desk for signing before anything can go wrong. (Think Obamacare repeal fiasco.)
 The Senate bill  changes the rules for capital gains taxation.  It  requires shareholders to sell their oldest shares in a company before their newest purchased shares. The older the share  the larger the taxable capital gain.
Worse  under  the Senate bill   there is an exception for mutual funds and other institutional funds. Companies such as Fidelity and Vanguard would be exempt from the tax  but not the little guy who wants to buy and sell stock on his own. Unfair. Kill it.
The Senate-passed tax bill  is a policy triumph that will provide a shot of performance-enhancing drugs to the veins of the economy.  It 's not perfect  but with the combined effect of cutting business tax rates  eliminating the state and local tax deduction and repealing the Obamacare individual mandate tax  we are at the precipice of the biggest conservative policy victory since the Reagan years.
If Republicans were wise  the House would vote immediately to approve  the Senate bill  and get  it  to President Donald Trump's desk for signing before anything can go wrong. (Think Obamacare repeal fiasco.)
 The Senate bill  changes the rules for capital gains taxation.  It  requires shareholders to sell their oldest shares in a company before their newest purchased shares. The older the share  the larger the taxable capital gain.
Worse  under  the Senate bill   there is an exception for mutual funds and other institutional funds. Companies such as Fidelity and Vanguard would be exempt from the tax  but not the little guy who wants to buy and sell stock on his own. Unfair. Kill it.