EN 
   |    Books   |    Videos   |    Join us   |    Login   |    More
   

Blog, comment, reply, share links, ideas, videos, pictures and podcasts

 

Republicans have done it again: take from the average American, give to the ultra rich


<b>Republicans have done it again: take from the average American, give to the ultra rich</b>As anticipated, the staggering $2 trillion coronavirus stimulus fund turns out to be a welfare fund for the super rich.
57 
Almost 43,000 millionaires across the United States may soon get $1.7 million relief cheques while average American get $1,200 thanks to a loophole in the Republican tax code overhaul of 2017, which allows certain business owners to significantly reduce their tax liability by temporarily suspending the limit of deductions they can make from non-business income. The loophole was included in the $2 trillion coronavirus stimulus package. According to a Joint Commission on Taxation report, "82 per cent of the benefits of the policy go to about 43,000 taxpayers who earn more than $1m annually".  "Someone wrongly seized on this health emergency to reward ultra-rich beneficiaries, likely including the Trump family, with a tax loophole not available to middle class families," says Democratic lawmaker Lloyd Doggett  who commissioned the report along with fellow Democratic Senator Sheldon Whitehouse. The last in a series of steps Trump took to confront government watchdogs tasked with oversight of the executive branch was to remove the Department of Defense's inspector general, General Glenn Fine, days after he was appointed to oversee the $2 trillion coronavirus relief package. The GOP-led senate has refused to exercise the role of making sure there are checks and balances in the government, preferring to operate in coordination with a corrupt president who is now running the country as his private family business. The Republican party has become so corrupt that its members are all working together to rob the country blind.

Source:


28773
 
12345678910  Next