As the 2020 campaign season swings into gear, the national debate about taxes — including tax rates, tax types, and tax fairness — is gaining prominence.
The capital gains tax is a highly debated topic, as most presidential candidates have weighed in on how to revise it. Simply put, the capital gains tax is a levy on the profit received from the sale of a capital asset.
Powell noted that the current economic expansion is the longest on record and emphasized the need to consider the long-term implications of fiscal policy.