Virginia Senate Candidate Victor Williams Says Fight Coronavirus Economic Harm by Killing the Inflation Tax — Index Capital Gains.
“Fight Coronavirus harm by substantial, recurring cash payments to American workers and by killing the inflation tax with an indexing of capital gains. It is time to go big.”
Today, Pro-Trump Law Professor and US Senate Candidate Victor Williams gave his strong support to President Trump’s idea to compensate American workers as our nation shuts-down to fight the coronavirus. Williams encouraged Trump not to be reined in by GOP deficit hawks.
Williams states that the payment that is being presently considered by Congress “should be trebled and made recurring monthly until the economic harm from the virus response has ended.”
Prof. Williams argued:
“American workers should not be insulted with chump change when both political parties have flushed trillions of tax down Iraqi ratholes in past decades. America First means American workers should be able to pay rent, eat, and have normal lives until the war on the virus ends.”
Victor Williams also called on President Trump wage war on the coronavirus’ harmful macroeconomic effects by the simple Executive act of adjusting (a/k/a “indexing”) the taxation of capital gains to account for inflation of the cost basis.
Williams explained that Trump could quickly “Kill the Inflation Tax” by a unilateral Executive decision to change IRS math.
“While cash to workers requires congressional authorization, Trump could unilaterally change the accounting methodology the IRS uses to calculate capital gains taxation.”
Williams argued: “The unfair inflation tax is particularly cruel to older Americans who invested in a patriotic time during which Americans would “buy and hold” American companies’ stock.”
“All it would take is an early-morning Trump tweet telling Treasury Secretary Steven Mnuchin to index capital gains to kill the tax on inflation and help protect the economy from coronavirus harm.”
Prof. Williams adds: “We should help all Americans by killing the inflation tax and particularly help elderly American investors. All we have to do is adjust the cost basis of assets prior to capital gains taxation.”
Williams pointed to arguments long made by Americans for Tax Reform’s Grover Norquist that such a tweak to the IRS math could bring a boom for the economy and would be an advancement in progressive taxation. According to Norquist:
"President Trump turned the economy around with his powerful tax cut…Now he [can] supercharge the economy by ending the inflation tax on capital gains, a big help to retired Americans."
Williams also believes that indexing capital gains would help many asset markets clear in this uber-volatile “age-of-coronavirus trading.”
A widely-published legal expert in a variety of fields, Professor Williams founded “Law Professors for Trump” in 2016. He has worked to support Trump’s America First programs in both the media and in the federal courts.
Most recently Williams filed an amicus curiae brief in the Supreme Court to defend Trump, his family, and his businesses against further House harassment by subpoenas in the Trump v. Mazars cases. Williams argues the House harassment and the failed impeachment removal is all part of a concerted effort of deep state and congressional punishment – amounting to an unconstitutional attainer.
Williams began his US Senate campaign on July 4, 2019, to jumpstart the GOP process of finding the strongest, best candidate to run against incumbent, leftist Mark Warner.
Williams again praised his competitors for the nomination giving special note to Dan Gade for the veteran’s fundraising successes and grassroots campaigning. Williams stated that with solid support from national party officials, Gade could soundly defeat the leftist Warner who has betrayed Virginia values and Virginia voters.
Dan Gade easily lodged well-over the 10,000 signatures required for ballot access earlier this month.
Williams thanked his own supporters and asked them to stay alert for an important campaign announcement coming in the next days. (vw4.v.com) (goplawyers.com)
Media may directly contact Prof. Williams at 571-309-8249 or email@example.com
Prof. Victor Williams
Victor Williams for US Senate Virginia 2020
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Source: EIN Presswire