Trump looking at possible tax cuts amid economic jitters - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Trump dismissed fears of a slowdown, extolling low unemployment and a rising stock market over his tenure.

A slowdown would be bad news for Trump, who is building his 2020 bid for a second term around the economy’s performance, but whose year-longOn Tuesday, Trump said he would not need the approval of Congress to link a tax on profits from asset sales, known as capital gains, to inflation. According to tax code experts, investors would pay far less capital gains tax if it was linked to an inflation index.

Former Vice President and Democratic presidential hopeful Joe Biden, campaigning in Iowa, said lowering the capital gains tax would only help the wealthy. Payroll taxes fund the Medicare health insurance program for the elderly and Social Security, which in turn provides income payments for retirees.

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