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Chris Fenton — media executive, author, and professor — joins Emily to make the case for Donald Trump’s trade war with China. The tariffs, Fenton says, are actually prioritizing American workers over Wall Street.
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SubscribeThe main reason behind lowering capital gain taxes back in the day was that it would encourage turnover, or sale of capital investments and assets. When capital gain taxes are high, people just hold the investments and assets, rather than sell them and have to pay tax. Lowering the tax causes more sales, so more taxable transactions and subsequent use of the profit from the sales. I did not hear this principle in the conversation. One could look back at when capital gain taxes were first lowered to see if capital gain tax revenue went up or down afterwards.