‘How do we democratize the stock market?’ Trump team eyes new savings tax break

The White House is floating a new proposal as part of President Trump’s forthcoming election time tax cut agenda: allowing taxpayers to save up to $10,000 on a tax-privileged basis, a policy meant to increase participation in stock markets and encourage wealth-building.

“The big thing we’re trying to drive here is: How do we get every American to own stocks?” said Steve Moore, an economist at the conservative Heritage Foundation and a confidant of Trump’s White House who has helped formulate the proposal.

“How do we democratize the stock market? This would be one step toward that goal,” Moore said.

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