David Bahnsen writes about today’s episode of the Capital Record, about ESG:
I encourage you to listen to the podcast with Professor Damodoran. The ESG movement is beginning to falter, and that is not merely because of a bull market in energy and bear market in Silicon Valley. An intellectually and morally bankrupt movement is finally being exposed, and the entire economy will soon be better off for it.
You can listen to that episode right here.
Daniel Pilla writes about provisions of the tax code that aren’t indexed to inflation:
The calculation of basis in capital assets (stocks, bonds, savings accounts, real estate) is not indexed to inflation. The only thing that is measured is the nominal gain or loss. As far as the IRS is concerned, if you sell an asset for more than you paid for it, you have a taxable gain, period. And this is true regardless of the fact that all gains may be purely attributable to inflation over the holding period.
There are dozens of provisions of the tax code that are indexed to inflation, including the income-tax brackets themselves. The idea is that one’s income-tax rate should not necessarily increase simply because inflation pushed his income up. But capital gains do not benefit from the same treatment.