skews13
Diamond Member
- Mar 18, 2017
- 9,441
- 11,863
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As they drafted their massive corporate tax giveaway in 2017, ultimately passing it in the dead of night with exactly zero Democratic support, congressional Republicans tried to devise the most clever ways to skew the current tax code in ways that rewarded their wealthiest political donors, those corporations and individuals who had poured stupendous amounts of untraceable dark money into byzantine Republican PACs, all of it intended to achieve the overarching goal of eliminating their obligation to pay taxes.
But those Republicans only had a finite sum of money to work with, So Republicans got creative.
As Laris notes, they also “temporarily” limited deductions for people who had lost their property due to floods, fires and earthquakes. But that wasn’t enough, either.
Then someone had a flash of insight: What if we just eliminate the previous, established tax deduction for those victimized by frauds or scams? Those people—mostly old folks—were going to feel so foolish at being victimized, they’d never complain! Besides, older, helpless fraud victims don’t have any lobby representing them, no one to advocate on their behalf. Why not just change the tax code so they have to pay full taxes on their losses, even if those losses were incurred because of con men and scammers? It was a solution perfectly befitted to a party slavishly beholden to a serial con man and fraudster like Donald Trump.
As a result, ever since the 2017 Republican tax abomination went into effect, with Trump’s blessing and signature, many Americans victimized by fraud schemes are now burdened with the responsibility of paying taxes on money that has been stolen from them.
This has to be one of the top five priorities when Democrats win back the House in November.
But those Republicans only had a finite sum of money to work with, So Republicans got creative.
As Laris notes, they also “temporarily” limited deductions for people who had lost their property due to floods, fires and earthquakes. But that wasn’t enough, either.
Then someone had a flash of insight: What if we just eliminate the previous, established tax deduction for those victimized by frauds or scams? Those people—mostly old folks—were going to feel so foolish at being victimized, they’d never complain! Besides, older, helpless fraud victims don’t have any lobby representing them, no one to advocate on their behalf. Why not just change the tax code so they have to pay full taxes on their losses, even if those losses were incurred because of con men and scammers? It was a solution perfectly befitted to a party slavishly beholden to a serial con man and fraudster like Donald Trump.
As a result, ever since the 2017 Republican tax abomination went into effect, with Trump’s blessing and signature, many Americans victimized by fraud schemes are now burdened with the responsibility of paying taxes on money that has been stolen from them.
The 2017 GOP tax scam is paying for itself—by taxing scammed seniors
It’s no secret that the proliferation of scams targeting elderly Americans has increased dramatically �with the expansive�spread of information technology. Older Americans are particularly ...
www.dailykos.com
This has to be one of the top five priorities when Democrats win back the House in November.