Bloomberg: Trump Weighs Call For Capital Gains Tax Cut as Midterm Boost

I finally started reading Scott Greer’s book Whitepill this morning.

Bloomberg:

“President Donald Trump is looking for new policy pledges he can present to voters ahead of the midterm election, according to a top economic aide and a former administration official, including potentially calling on Congress to cut capital gains taxes and create an exemption for certain home sales.

National Economic Council Director Kevin Hassett said Tuesday in a interview with Fox Business host Larry Kudlow that Trump wants to offer voters more incentives to back Republicans in November’s election.

Kudlow, who led the council during Trump’s first term and remains an ally, said he had recently spoken with Trump about indexing capital gains, meaning taxes would be applied on gains adjusted for inflation. He also suggested exemptions for sales of homes worth $2 million or less from capital gains taxes, adding that “the boss is very interested” in those ideas. …”

Listen to this.

This is how Greer describes the pre-Trump GOP in 2013 at the opening of the book.

“Yet Republicans were incapable of offering one. More than two decades after the Cold War, the conservative movement no longer knew what it was defending. Anti-communism had been its defining purpose, but communism was gone. The attempt to replace it with the messianic interventionism of George W. Bush collapsed and failure and disgrace. Republicans could only offer wonkish promises to better manage the national debt and reduce marginal tax rates. The dominate ethos among party leadership was to become a more respectable and more pro-business version of liberalism.

This was the consensus when I arrived in Washington in early 2013 …”

It is mid-2026.

We’re less than a 100 days out from the 2026 midterms.

Donald Trump is a historically unpopular president who has sunk to 34% in national polls. He is more unpopular than Joe Biden and George W. Bush. He is more unpopular than Herbert Hoover was when he lost to FDR in 1932. He has a lower approval rating on inflation than Jimmy Carter.

We’re stuck in a war with Iran for Israel in the Middle East after Trump campaigned as the “Peace President” and ran on “no new wars” in the 2024 election. Trump is the third Republican president to start a war in the Middle East, neglect the economy and hand power back to Democrats. He is the third Republican president in a row to destroy his coalition in this way. He started the war to overthrow the Iranian regime which was “killing its own people” and threatening us with non-existent WMDs which he claimed to have destroyed the previous summer in Operation Midnight Hammer.

Trump is the only Republican president in a century to be given two trifectas. He spent both trifectas on corporate tax cuts. The Big Beautiful Bill made his 2017 corporate tax cut permanent. Before he sinks into political oblivion after the midterms, Trump is considering squeezing the last ounce of political power out of his current majority to pass a capital gains tax cut. Larry Kudlow was the Director of the National Economic Council in Trump’s first term and is who is advising him to do this. Greer looks at all this and sees a Trump revolution that has overturned Reaganite economics and W.’s foreign policy.

What happened to the GOP that was defined by anti-communism which was out of gas until it was revitalized by Trump’s Alt-Right rhetoric? It is running against communism in 2026. The national debt has more than doubled since Trump came down the escalator in June 2015. During his 2016 campaign, Trump called himself the “king of debt” and vowed to pay of the entire national debt in eight years.