Source: The Hill
by Glenn Farley
“With the cost of living on every voter’s mind, an old idea is getting a new push on Capitol Hill: fixing a flaw in the tax code that makes everything more expensive. Anyone who has ever sold a home, stock, or even a collectible is familiar with it. When you sell an asset that has risen in price, the IRS taxes the gain. But that gain is measured against the price you paid, not your true cost. If you bought a stock, a bond, or a business many years ago, and its price merely kept pace with inflation, you are no richer in purchasing power than the day you bought it — yet the tax code treats the difference as income and taxes it anyway. This is especially noticeable in periods of high inflation, like the last five years. It is a tax on rising prices, dressed up as a tax on profit.” (08/12/26)
https://thehill.com/opinion/finance/5980648-index-capital-gains-inflation/