General Discussion

In your example there is a capital gain of $300,000.

Before Trump's EO, this is what would be paid on a $550k home in federal capital gains tax:

> Married filing jointly: $0 (the $300k gain is under the $500k exemption)
> Single: $10,000, for an effective tax rate of 3.3% (20% on the $50k above the $250k exemption)

After Trump's EO, both pay zero.

If the sales price was 100x the median, or $41m, and the original price paid was $1m, the gain of $40m would exceed $500k by $39.5m and the tax would be $7.9m (doing married, filing jointly -- you can do the math for single filers). Mr. and Mrs. Big Bucks come out quite well, unlike those below, at, or maybe only a few multiples of the median. Trump's EO greatly benefits those at the top.

The EO, just like everything else about Trump, is regressive. It helps the Already-Haves while not greatly nor directly impacting the majority of us. I suppose IF the taxes continued unchanged, the tax collected could be put to use on things of wider social benefit, but apparently that's not what America wants.

Meanwhile they're still taxing social security benefits. And no help for those with student loans. The Corporation for Public Broadcasting shut there doors yesterday. How many rural hospitals are closing? Capital gain taxes on RE sales could be put to some better use other than padding the bank accounts of the wealthy and the very well off.

See my post #19 for more on my thinking about this.