President Donald Trump on Friday again flirted with the idea of easing capital gains taxes, after swearing off the idea last week because it could be seen as "elitist."
Trump retweeted an article co-authored by Sen. Ted Cruz (R-Texas) and conservative anti-tax crusader Grover Norquist calling for the capital gains tax to be indexed to inflation, a move that would effectively cut taxes on the sale of assets like stocks.
He also shared a tweet from Club for Growth, another conservative group focused on slashing taxes, asking him to index capital gains to inflation."An idea liked by many?" Trump
Trump has publicly floated the idea of various tax cut proposals as signs have emerged that the economy could be veering toward a recession. But he has given mixed signals on the matter.
On Aug. 20, Trump told reporters that he had been talking for a "long time" about the idea of indexing capital gains to inflation, and that he "would love to do something on capital gains."
But a day later, Trump said he wasn't seriously looking at indexing, adding that he would be perceived as "elitist" because the tax cut would primarily benefit the wealthy.
A 2018 analysis by the University of Pennsylvania found that the majority of such a tax cut would go to the top 1 percent of earners.
Article originally published on POLITICO Magazine