Business
Trump eyes end of capital gains tax in 2025
MxM News
Quick Hit:
In a historic announcement that rattled markets and reignited debate over tax policy, President Donald Trump revealed plans to eliminate the capital gains tax starting in 2025. The unprecedented move would allow Americans to retain all profits from asset sales—whether in stocks, real estate, or other investments. Supporters tout it as a bold pro-growth measure, while critics warn it may cause budget strain and market instability.
Key Details:
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President Trump announced the elimination of capital gains tax effective 2025, describing it as a move to reward success and promote wealth-building.
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Currently, capital gains are taxed at rates up to 20%, with additional surcharges for high earners.
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The announcement caused a major rally across financial markets, though critics claim the change favors the wealthy and could disrupt the economy.
Diving Deeper:
At a press conference on Monday, President Trump laid out a sweeping proposal to eliminate the capital gains tax in its entirety, calling it a “long-overdue correction” to what he described as a punitive tax on prosperity. “Why should you be punished for building wealth?” he asked. “This is America—we reward success.” If enacted, the change would allow investors to retain 100% of profits from the sale of assets such as stocks, homes, and businesses, with zero tax liability.
This proposal marks a sharp departure from decades of entrenched U.S. tax policy. Currently, long-term capital gains are taxed at rates ranging from 0% to 20%, with potential surcharges including the 3.8% Net Investment Income Tax for high earners. Trump’s plan would zero out those liabilities entirely starting in the 2025 tax year.
Conservative economists and market analysts have lauded the move as potentially the most transformative supply-side reform since the Reagan era. They argue that removing the tax will unshackle trillions of dollars currently locked in unrealized gains, spurring investment, entrepreneurship, and broader economic dynamism. “This is a game-changer,” said one pro-growth advocate. “It sends a clear message that America is back to being the most investment-friendly nation on Earth.”
Predictably, left-wing critics erupted. One Democratic senator labeled the measure a “grenade” that would detonate the federal budget and widen the wealth gap. Others warned of asset bubbles and increased volatility as investors rush to dump assets ahead of the reform’s implementation. These concerns, however, do not seem to have spooked the markets—at least not yet.
The Dow Jones Industrial Average jumped nearly 600 points following the announcement, while cryptocurrencies surged on expectations of tax-free gains. Real estate portals and trading platforms like Robinhood and E*TRADE saw surges in activity as users began strategizing around the policy’s timing. Online, the announcement triggered a wave of memes and commentary. The hashtag #NoCapGains began trending on X (formerly Twitter), with some calling it a “wealth liberation act” and others denouncing it as “Robin Hood in reverse.”
Legislation to formalize the proposal is expected to hit Congress within weeks. While Republicans have largely expressed support, Democrats are preparing for a fierce battle. It’s unclear whether some establishment Republicans—many of whom have been resistant to bold reform under Trump—will help move the bill forward or slow-walk it in favor of more moderate compromises.
Until the law is officially passed, financial advisors are urging caution. “The promise of zero capital gains tax is tempting,” one planner said, “but don’t bet the farm until it’s signed, sealed, and delivered.”
Still, with the 2025 tax season approaching fast, the stakes are enormous. If passed, Trump’s plan would not only mark one of the most dramatic tax overhauls in modern history—it would redefine the very incentives that drive American investment and wealth accumulation.
MxM News
Quick Hit:
A shocking new poll reveals that a staggering 71% of likely Democratic voters support imprisoning Elon Musk for his brief service in the Trump administration’s Department of Government Efficiency (DOGE). The survey, conducted by The Heartland Institute and Rasmussen Reports, underscores an alarming shift in progressive politics: jailing political opponents for attempting to rein in bureaucratic waste. As Justin Haskins writes in his May 9 Townhall op-ed, this poll is not just about Musk—it’s about the dangerous normalization of authoritarianism among America’s political left.
Key Details:
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71% of likely Democratic voters support jailing Musk for his role in eliminating government waste via DOGE.
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80% of ideological liberals, across parties, say they would imprison Musk for his public service.
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Nearly 70% of Democrats support banning Musk from ever serving in government again—an unconstitutional measure.
Diving Deeper:
In his recent Townhall column, Justin Haskins warns that Elon Musk’s fall from liberal darling to “Public Enemy No. 1 for the modern left” stems from a single transgression: daring to challenge the D.C. establishment. Haskins opens by recognizing Musk’s past achievements—electric vehicles, space exploration, and defending free speech. But after briefly working in the Trump administration’s Department of Government Efficiency (DOGE)—an initiative aimed at cutting federal waste—Musk became a target of left-wing ire.
According to the Heartland Institute/Rasmussen poll, “Seven in ten likely Democratic voters want to imprison Musk for trying to make government more efficient.” Haskins adds, “This isn’t satire. This is the modern Democratic Party, where liberalism has evolved into authoritarianism dressed in the clothes of compassion and equity.”
The numbers become even more disturbing among self-identified liberals. A staggering 80% of ideological liberals said they’d support jailing Musk for participating in DOGE. Additionally, nearly 70% of Democrats back a proposal to ban him from ever working in government again—a position that clearly violates constitutional protections.
Musk’s unpopularity among Democrats has grown since his acquisition of X (formerly Twitter) and his commitment to restoring banned voices. Once celebrated as a climate champion, Musk is now demonized by the very groups that once hailed his green energy innovations. “He was supposed to walk in lockstep against conservatives at all times,” Haskins notes. “When he chose a different path… he committed a sin that some on the radical left simply cannot forgive.”
More importantly, the poll reflects a dangerous national trend: criminalizing political dissent. Haskins writes, “When nearly three-fourths of Democratic voters support jailing someone for participating in an effort to streamline federal agencies, we’ve crossed a dangerous line.” He continues, “This is the stuff of banana republics, not constitutional republics.”
The column concludes with a chilling reminder that the targeting of Elon Musk is not an isolated incident. “If they’re willing to jail Elon Musk for doing his job, what do you think they’ll do to the rest of us?” Haskins asks. The poll results reveal a left-wing movement increasingly comfortable using state power to punish those who refuse to conform.
Quick Hit:
The LEGO Group is expanding its U.S. footprint with a $366 million investment to build a 2-million-square-foot warehouse in Virginia. The move will create 305 new jobs and deepen the company’s commitment to the United States.
Key Details:
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The new warehouse and distribution center will be built in Prince George County, complementing LEGO’s upcoming factory in neighboring Chesterfield County that’s set to open in 2027.
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Virginia secured the project through a $2.53 million Commonwealth Opportunity Fund grant, with additional support from state programs including the Virginia Jobs Investment Program and the Port of Virginia’s economic development incentives.
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LEGO’s Chief Operations Officer Carsten Rasmussen said the center will “bring greater flexibility” to the company’s North American supply chain and reduce both customer wait times and environmental impact.
Diving
LEGO is expanding in Virginia! This new $366M investment in Prince George County creates 305 new jobs, strengthening our partnership and Virginia’s status as the top state for business. Virginia is where global companies and iconic brands like @LEGO_group can thrive, grow, and… pic.twitter.com/6rzydVIlRZ
— Glenn Youngkin (@GlennYoungkin) May 8, 2025
Deeper:
The LEGO Group will invest $366 million to build a 2 million-square-foot warehouse and distribution center in Prince George County, Virginia, a move expected to create 305 new jobs, according to a Thursday announcement by Governor Glenn Youngkin.
The project marks another milestone in LEGO’s ongoing U.S. expansion, following the 2022 announcement of its Chesterfield County factory currently under construction. The company’s operations in Virginia are projected to create more than 2,000 jobs total when both sites are fully up and running.
“The LEGO Group is not just a household name, it’s a symbol of creativity, innovation, and quality that resonates globally,” said Governor Youngkin. “Three years after choosing Virginia to establish its U.S. manufacturing plant, the LEGO Group’s decision to expand into Prince George County is an exciting new chapter in this partnership.”
LEGO’s global Chief Operations Officer, Carsten Rasmussen, said the regional distribution center “will shorten our supply chain in the region–reducing lead times for our customers as well as our environmental impact.” He praised the continued partnership with the Commonwealth.
State economic officials credited Virginia’s workforce and infrastructure for helping land the deal. “This investment brings high-quality jobs to Prince George County and reflects our broader commitment to building healthy, vibrant communities,” said Secretary of Commerce and Trade Juan Pablo Segura.
Virginia lawmakers representing the area praised the announcement. State Senator Lashrecse Aird said the investment means “new opportunities for families and a stronger foundation for our community.” Delegate Carrie Coyner echoed that sentiment, calling it “a testament to the kind of community we’ve built.”
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