Sen. Ted Cruz (R-Texas) wants to give the 1% yet another tax break — but is it even legal? Legislation to enact the indexation of capital gains taxes was introduced in 1978, 1983, 1994, 1997 and 1998. Because it’s only the rich who have any significant exposure to the capital gains tax. As Ed Kleinbard, the late taxation guru at USC, was fond of pointing out, the capital gains tax is our only truly voluntary tax. By the time they are ready, the opportunity has passed.”The Republican fixation on relieving their rich patrons of the burden of capital gains taxes isn’t surprising.

Source: Los Angeles Times March 20, 2026 01:01 UTC