I'm shocked, shocked I say to find gambling............

[berg80]

Tax change in coronavirus package overwhelmingly benefits millionaires, congressional body finds

https://www.washingtonpost.com/business/2020/04/14/coronavirus-law-congress-tax-change/

The provision, included by Senate Republicans, would cost taxpayers approximately $90 billion in 2020

"More than 80 percent of the benefits of a tax change tucked into the coronavirus relief package Congress passed last month will go to those who earn more than $1 million annually, according to a report by a nonpartisan congressional body expected to be released Tuesday.
The provision, inserted into the legislation by Senate Republicans, temporarily suspends a limitation on how much owners of businesses formed as “pass-through” entities can deduct against their nonbusiness income, such as capital gains, to reduce their tax liability. The limitation was created as part of the 2017 Republican tax law to offset other tax cuts to firms in that legislation.
Suspending the limitation will cost taxpayers about $90 billion in 2020 alone, part of a set of tax changes that will add close to $170 billion to the national deficit over the next 10 years, according to the Joint Committee on Taxation (JCT), the nonpartisan congressional body."
...............................................................................................................................
Nobody gets bang for their buck in DC like the corporate lobbyists who control the POT.

 

[Bootney Lee Farnsworth]

You mean, people who actually pay taxes don't have to pay as much?

"More than 80 percent of the benefits of a tax change tucked into the coronavirus relief package Congress passed last month will go to those who earn more than $1 million annually, according to a report by a nonpartisan congressional body expected to be released Tuesday.

Yeah. Why don't we call it what it really is. Government will confiscate less money from these people.

It's not your fucking money. Get that straight.

.

 

[Leweman]

I agree with you we should have a flat tax.

 

[Sun Devil 92]

Tax change in coronavirus package overwhelmingly benefits millionaires, congressional body finds

https://www.washingtonpost.com/business/2020/04/14/coronavirus-law-congress-tax-change/

The provision, included by Senate Republicans, would cost taxpayers approximately $90 billion in 2020

"More than 80 percent of the benefits of a tax change tucked into the coronavirus relief package Congress passed last month will go to those who earn more than $1 million annually, according to a report by a nonpartisan congressional body expected to be released Tuesday.
The provision, inserted into the legislation by Senate Republicans, temporarily suspends a limitation on how much owners of businesses formed as “pass-through” entities can deduct against their nonbusiness income, such as capital gains, to reduce their tax liability. The limitation was created as part of the 2017 Republican tax law to offset other tax cuts to firms in that legislation.
Suspending the limitation will cost taxpayers about $90 billion in 2020 alone, part of a set of tax changes that will add close to $170 billion to the national deficit over the next 10 years, according to the Joint Committee on Taxation (JCT), the nonpartisan congressional body."
...............................................................................................................................
Nobody gets bang for their buck in DC like the corporate lobbyists who control the POT.

You've only got yourselves to thank.

 

[Blues Man]

Tax change in coronavirus package overwhelmingly benefits millionaires, congressional body finds

https://www.washingtonpost.com/business/2020/04/14/coronavirus-law-congress-tax-change/

The provision, included by Senate Republicans, would cost taxpayers approximately $90 billion in 2020

"More than 80 percent of the benefits of a tax change tucked into the coronavirus relief package Congress passed last month will go to those who earn more than $1 million annually, according to a report by a nonpartisan congressional body expected to be released Tuesday.
The provision, inserted into the legislation by Senate Republicans, temporarily suspends a limitation on how much owners of businesses formed as “pass-through” entities can deduct against their nonbusiness income, such as capital gains, to reduce their tax liability. The limitation was created as part of the 2017 Republican tax law to offset other tax cuts to firms in that legislation.
Suspending the limitation will cost taxpayers about $90 billion in 2020 alone, part of a set of tax changes that will add close to $170 billion to the national deficit over the next 10 years, according to the Joint Committee on Taxation (JCT), the nonpartisan congressional body."
...............................................................................................................................
Nobody gets bang for their buck in DC like the corporate lobbyists who control the POT.

no such thing as a nonpartisan congressional body

 

[Sun Devil 92]

TDS thread 1,377

 

[Nostra]

Tax change in coronavirus package overwhelmingly benefits millionaires, congressional body finds

https://www.washingtonpost.com/business/2020/04/14/coronavirus-law-congress-tax-change/

The provision, included by Senate Republicans, would cost taxpayers approximately $90 billion in 2020

"More than 80 percent of the benefits of a tax change tucked into the coronavirus relief package Congress passed last month will go to those who earn more than $1 million annually, according to a report by a nonpartisan congressional body expected to be released Tuesday.
The provision, inserted into the legislation by Senate Republicans, temporarily suspends a limitation on how much owners of businesses formed as “pass-through” entities can deduct against their nonbusiness income, such as capital gains, to reduce their tax liability. The limitation was created as part of the 2017 Republican tax law to offset other tax cuts to firms in that legislation.
Suspending the limitation will cost taxpayers about $90 billion in 2020 alone, part of a set of tax changes that will add close to $170 billion to the national deficit over the next 10 years, according to the Joint Committee on Taxation (JCT), the nonpartisan congressional body."
...............................................................................................................................
Nobody gets bang for their buck in DC like the corporate lobbyists who control the POT.

Every Dimsocialist voted for it.

Oops!

 

[shockedcanadian]

Lower taxes, lower expenses, lower government interference in the market, and as we suffer from greatly in Canada, interference in peoples lives.

I'm not sure I've ever been unhappy with tax cuts, except, when big corporations avoid them while also getting cash from taxpayers and slashing and burning from those who help them. The only thing worse than taxes in my opinion is crony capitalism for those that don't need it.

 

[Lesh]

What’s the word for this?

pork?

 

[Bootney Lee Farnsworth]

Lower taxes, lower expenses, lower government interference in the market, and as we suffer from greatly in Canada, interference in peoples lives.

I'm not sure I've ever been unhappy with tax cuts, except, when big corporations avoids them while also getting cash from taxpayers and slashing and burning from those who help them. The only thing worse than taxes in my opinion is crony capitalism for those that don't need it.

Well said.


.

 

[Bootney Lee Farnsworth]

What’s the word for this?

pork?

What?

Confiscating less of other people's money is "pork" in your opinion?

.

 

[berg80]

"An analysis by the JCT found suspending the limit overwhelmingly benefits higher earners. About 82 percent of the benefits of the policy go to about 43,000 taxpayers who earn more than $1 million annually. Less than 3 percent of the benefits go to Americans earning less than $100,000 a year, the analysis found. The analysis included the impact of another tax change in the coronavirus relief legislation that allows firms to write off 100 percent rather than 80 percent of their losses, reversing another change in the 2017 tax law.
Hedge-fund investors and owners of real estate businesses are “far and away” the two prime beneficiaries of the change, said Steve Rosenthal, a tax expert at the Tax Policy Center, a nonpartisan think tank."

What a coincidence. Isn't that Trump's business?

 

[berg80]

Of course, if the King of Debt had divested himself as he should have this would not be a conflict of interest.

 

[whitehall]

"A non-partisan congressional body"? How is that possible in this day and age? The truth is that hypocrite democrats seem to think that all small business owners are "millionaires" for tax purposes. Those millionaires are in danger of losing their businesses and putting thousands of of people out of work but democrats don't give a damn. Maybe that's the plan.

 

[Bootney Lee Farnsworth]

"An analysis by the JCT found suspending the limit overwhelmingly benefits higher earners. About 82 percent of the benefits of the policy go to about 43,000 taxpayers who earn more than $1 million annually. Less than 3 percent of the benefits go to Americans earning less than $100,000 a year, the analysis found. The analysis included the impact of another tax change in the coronavirus relief legislation that allows firms to write off 100 percent rather than 80 percent of their losses, reversing another change in the 2017 tax law.
Hedge-fund investors and owners of real estate businesses are “far and away” the two prime beneficiaries of the change, said Steve Rosenthal, a tax expert at the Tax Policy Center, a nonpartisan think tank."

What a coincidence. Isn't that Trump's business?

So, again....people are allowed to keep more of their own fucking money?

.

 

[Bootney Lee Farnsworth]

Of course, if the King of Debt had divested himself as he should have this would not be a conflict of interest.

What about the legislators who proposed and voted on this bill?

.

 

[Leweman]

Of course, if the King of Debt had divested himself as he should have this would not be a conflict of interest.

What about the legislators who proposed and voted on this bill?

.

What legislators? Trump is a tyrannical Dick Tater. Haven't you heard?

 

[Toddsterpatriot]

Tax change in coronavirus package overwhelmingly benefits millionaires, congressional body finds

https://www.washingtonpost.com/business/2020/04/14/coronavirus-law-congress-tax-change/

The provision, included by Senate Republicans, would cost taxpayers approximately $90 billion in 2020

"More than 80 percent of the benefits of a tax change tucked into the coronavirus relief package Congress passed last month will go to those who earn more than $1 million annually, according to a report by a nonpartisan congressional body expected to be released Tuesday.
The provision, inserted into the legislation by Senate Republicans, temporarily suspends a limitation on how much owners of businesses formed as “pass-through” entities can deduct against their nonbusiness income, such as capital gains, to reduce their tax liability. The limitation was created as part of the 2017 Republican tax law to offset other tax cuts to firms in that legislation.
Suspending the limitation will cost taxpayers about $90 billion in 2020 alone, part of a set of tax changes that will add close to $170 billion to the national deficit over the next 10 years, according to the Joint Committee on Taxation (JCT), the nonpartisan congressional body."
...............................................................................................................................
Nobody gets bang for their buck in DC like the corporate lobbyists who control the POT.

Suspending the limitation will cost taxpayers about $90 billion in 2020 alone

Suspending the limitation will SAVE taxpayers about $90 billion in 2020 alone.

Fixed it.

 

[MeBelle]

Of course, if the King of Debt had divested himself as he should have this would not be a conflict of interest.

keep trolling!

You're funny to read.

 

[Nostra]

What’s the word for this?

pork?

What?

Confiscating less of other people's money is "pork" in your opinion?

.

Lush is the typical Dimsocialist. Everything belongs to the govt.

You don’t keep your stuff, the govt gives it to you.