Secret IRS Files Reveal How Much the Ultrawealthy Gained by Shaping Trump’s “Big, Beautiful Tax Cut”

[DrLove]

There have to be enough smart people in Wisconsin to give RonAnon Johnson the boot!

The Trump administration championed the pass-through provision as tax relief for “small businesses.”​

​

Confidential tax records, however, reveal that Johnson’s last-minute maneuver benefited two families more than almost any others in the country — both worth billions and both among the senator’s biggest donors.​

​

In November 2017, with the administration of President Donald Trump rushing to get a massive tax overhaul through Congress, Sen. Ron Johnson stunned his colleagues by announcing he would vote “no.”​

​

Making the rounds on cable TV, the Wisconsin Republican became the first GOP senator to declare his opposition, spooking Senate leaders who were pushing to quickly pass the tax bill with their thin majority. “If they can pass it without me, let them,” Johnson declared.​

​

Johnson’s demand was simple: In exchange for his vote, the bill must sweeten the tax break for a class of companies that are known as pass-throughs, since profits pass through to their owners. Johnson praised such companies as “engines of innovation.” Behind the scenes, the senator pressed top Treasury Department officials on the issue, emails and the officials’ calendars show.​

​

Within two weeks, Johnson’s ultimatum produced results. Trump personally called the senator to beg for his support, and the bill’s authors fattened the tax cut for these businesses. Johnson flipped to a “yes” and claimed credit for the change. The bill passed.​

​

Dick and Liz Uihlein of packaging giant Uline, along with roofing magnate Diane Hendricks, together had contributed around $20 million to groups backing Johnson’s 2016 reelection campaign.​

​

The expanded tax break Johnson muscled through netted them $215 million in deductions in 2018 alone, drastically reducing the income they owed taxes on. At that rate, the cut could deliver more than half a billion in tax savings for Hendricks and the Uihleins over its eight-year life.​

​

But the tax break did more than just give a lucrative, and legal, perk to Johnson’s donors. In the first year after Trump signed the legislation, just 82 ultrawealthy households collectively walked away with more than $1 billion in total savings, an analysis of confidential tax records shows.​

​

Republican and Democratic tycoons alike saw their tax bills chopped by tens of millions, among them: the Bechtel family, owners of the engineering firm that bears their name; and the heirs of the late Houston pipeline billionaire Dan Duncan.​

Secret IRS Files Reveal How Much the Ultrawealthy Gained by Shaping Trump’s “Big, Beautiful Tax Cut”

Billionaire business owners deployed lobbyists to make sure Trump’s 2017 tax bill was tailored to their benefit. Confidential IRS records show the windfall that followed.

www.propublica.org

 

[SassyIrishLass]

Yawn

 

[Scottish_Brexiteer_UK]

So because a couple of billionaires also benefitted from this, it means it all of a sudden wasn't worthwhile?

Also, added offended points for them having the audacity to be Conservative backers. Damn them all to hell.

I swear Democrats will complain about anything when it comes to Trump.

It's capitalism. People with money get benefits sometimes. Deal with it.

This is a non-story.

 

[Papageorgio]

There have to be enough smart people in Wisconsin to give RonAnon Johnson the boot!

The Trump administration championed the pass-through provision as tax relief for “small businesses.”​

​

Confidential tax records, however, reveal that Johnson’s last-minute maneuver benefited two families more than almost any others in the country — both worth billions and both among the senator’s biggest donors.​

​

In November 2017, with the administration of President Donald Trump rushing to get a massive tax overhaul through Congress, Sen. Ron Johnson stunned his colleagues by announcing he would vote “no.”​

​

Making the rounds on cable TV, the Wisconsin Republican became the first GOP senator to declare his opposition, spooking Senate leaders who were pushing to quickly pass the tax bill with their thin majority. “If they can pass it without me, let them,” Johnson declared.​

​

Johnson’s demand was simple: In exchange for his vote, the bill must sweeten the tax break for a class of companies that are known as pass-throughs, since profits pass through to their owners. Johnson praised such companies as “engines of innovation.” Behind the scenes, the senator pressed top Treasury Department officials on the issue, emails and the officials’ calendars show.​

​

Within two weeks, Johnson’s ultimatum produced results. Trump personally called the senator to beg for his support, and the bill’s authors fattened the tax cut for these businesses. Johnson flipped to a “yes” and claimed credit for the change. The bill passed.​

​

Dick and Liz Uihlein of packaging giant Uline, along with roofing magnate Diane Hendricks, together had contributed around $20 million to groups backing Johnson’s 2016 reelection campaign.​

​

The expanded tax break Johnson muscled through netted them $215 million in deductions in 2018 alone, drastically reducing the income they owed taxes on. At that rate, the cut could deliver more than half a billion in tax savings for Hendricks and the Uihleins over its eight-year life.​

​

But the tax break did more than just give a lucrative, and legal, perk to Johnson’s donors. In the first year after Trump signed the legislation, just 82 ultrawealthy households collectively walked away with more than $1 billion in total savings, an analysis of confidential tax records shows.​

​

Republican and Democratic tycoons alike saw their tax bills chopped by tens of millions, among them: the Bechtel family, owners of the engineering firm that bears their name; and the heirs of the late Houston pipeline billionaire Dan Duncan.​

Secret IRS Files Reveal How Much the Ultrawealthy Gained by Shaping Trump’s “Big, Beautiful Tax Cut”

Billionaire business owners deployed lobbyists to make sure Trump’s 2017 tax bill was tailored to their benefit. Confidential IRS records show the windfall that followed.

www.propublica.org

Link to a real news outlet and I’d consider it. I’m not into extreme right and left websites and I as a rule don’t click to them. Bad karma.

 

[struth]

There have to be enough smart people in Wisconsin to give RonAnon Johnson the boot!

The Trump administration championed the pass-through provision as tax relief for “small businesses.”​

​

Confidential tax records, however, reveal that Johnson’s last-minute maneuver benefited two families more than almost any others in the country — both worth billions and both among the senator’s biggest donors.​

​

In November 2017, with the administration of President Donald Trump rushing to get a massive tax overhaul through Congress, Sen. Ron Johnson stunned his colleagues by announcing he would vote “no.”​

​

Making the rounds on cable TV, the Wisconsin Republican became the first GOP senator to declare his opposition, spooking Senate leaders who were pushing to quickly pass the tax bill with their thin majority. “If they can pass it without me, let them,” Johnson declared.​

​

Johnson’s demand was simple: In exchange for his vote, the bill must sweeten the tax break for a class of companies that are known as pass-throughs, since profits pass through to their owners. Johnson praised such companies as “engines of innovation.” Behind the scenes, the senator pressed top Treasury Department officials on the issue, emails and the officials’ calendars show.​

​

Within two weeks, Johnson’s ultimatum produced results. Trump personally called the senator to beg for his support, and the bill’s authors fattened the tax cut for these businesses. Johnson flipped to a “yes” and claimed credit for the change. The bill passed.​

​

Dick and Liz Uihlein of packaging giant Uline, along with roofing magnate Diane Hendricks, together had contributed around $20 million to groups backing Johnson’s 2016 reelection campaign.​

​

The expanded tax break Johnson muscled through netted them $215 million in deductions in 2018 alone, drastically reducing the income they owed taxes on. At that rate, the cut could deliver more than half a billion in tax savings for Hendricks and the Uihleins over its eight-year life.​

​

But the tax break did more than just give a lucrative, and legal, perk to Johnson’s donors. In the first year after Trump signed the legislation, just 82 ultrawealthy households collectively walked away with more than $1 billion in total savings, an analysis of confidential tax records shows.​

​

Republican and Democratic tycoons alike saw their tax bills chopped by tens of millions, among them: the Bechtel family, owners of the engineering firm that bears their name; and the heirs of the late Houston pipeline billionaire Dan Duncan.​

Secret IRS Files Reveal How Much the Ultrawealthy Gained by Shaping Trump’s “Big, Beautiful Tax Cut”

Billionaire business owners deployed lobbyists to make sure Trump’s 2017 tax bill was tailored to their benefit. Confidential IRS records show the windfall that followed.

www.propublica.org

most self employed businesses are pass through. LLCs for example

good for him

 

[DrLove]

most self employed businesses are pass through. LLCs for example

good for him

Dummy ^

Confidential tax records, however, reveal that Johnson’s last-minute maneuver benefited two families more than almost any others in the country — both worth billions and both among the senator’s biggest donors.

Dick and Liz Uihlein of packaging giant Uline, along with roofing magnate Diane Hendricks, together had contributed around $20 million to groups backing Johnson’s 2016 reelection campaign.

The expanded tax break Johnson muscled through netted them $215 million in deductions in 2018 alone, drastically reducing the income they owed taxes on. At that rate, the cut could deliver more than half a billion in tax savings for Hendricks and the Uihleins over its eight-year life.

But the tax break did more than just give a lucrative, and legal, perk to Johnson’s donors. In the first year after Trump signed the legislation, just 82 ultrawealthy households collectively walked away with more than $1 billion in total savings, an analysis of confidential tax records shows.

 

[struth]

Dummy ^

Confidential tax records, however, reveal that Johnson’s last-minute maneuver benefited two families more than almost any others in the country — both worth billions and both among the senator’s biggest donors.

Dick and Liz Uihlein of packaging giant Uline, along with roofing magnate Diane Hendricks, together had contributed around $20 million to groups backing Johnson’s 2016 reelection campaign.

The expanded tax break Johnson muscled through netted them $215 million in deductions in 2018 alone, drastically reducing the income they owed taxes on. At that rate, the cut could deliver more than half a billion in tax savings for Hendricks and the Uihleins over its eight-year life.

But the tax break did more than just give a lucrative, and legal, perk to Johnson’s donors. In the first year after Trump signed the legislation, just 82 ultrawealthy households collectively walked away with more than $1 billion in total savings, an analysis of /!: confidential tax records shows.

cool….and millions of other families benefited as well that have pass through companies

dummy

 

[MinTrut]

Yawn

Greatest economy in history, burned down by the deranged Democrats for 2 years of power - what's not to love?

 

[DrLove]

Link to a real news outlet and I’d consider it. I’m not into extreme right and left websites and I as a rule don’t click to them. Bad karma.

Sorry, if you're going to rule out sources that are BARELY left center, I can't help Papa.

• Overall, we rate ProPublica Slightly Left-Center biased based on story selection that may favor the left and factually High due to proper sourcing and evidence-based reporting.

 

[DrLove]

cool….and millions of other families benefited as well that have pass through companies

dummy

No Loony Bird, they overwhelming bulk of bennies went to just 82 families.

 

[shoshi]

If you give tax breaks to the rich they will invest it. If you give it to people like me we will spend it to pay bills. Investment fuels the economy much more than consumerism.

 

[Resnic]

We need to face facts. The ultra wealthy are called that for a reason. There is will never be an environment where they arent wealthy and to blame it one person regardless of who they are is just pure ignorance.

The wealthy have been for a very long time, they pay teams of attorneys and lawyers to make sure they stay that way, their life mission is money and they play the game well.

Besides we need ultra wealthy people. Without them we wouldn't have smart phones, 4k tvs, smart fridges, heated toilet seats, blue tooth surround sound wireless earbuds, and so on. The ultra wealthy allow us all to have these things. If they wouldn't be ultra wealthy then they wouldn't be working so hard to keep it or the drive to have more.

Money drives progress and we have few wealthy people because few are fit to rise to that level. Just like not everyone is fit to be a neru surgeon not everyone is fit to be wealthy or even rich.

 

[Papageorgio]

Sorry, if you're going to rule out sources that are BARELY left center, I can't help Papa.

• Overall, we rate ProPublica Slightly Left-Center biased based on story selection that may favor the left and factually High due to proper sourcing and evidence-based reporting.

Fine, let me know if the real media sees any of this and reports. Until then, I will eliminate this as a garbage story. The story is short of facts and high on speculation and your source media bias is a left center agency that rates with no real criteria on how they rate. Like I said give me a real media source instead of wanna be places, that is the stuff that spreads misinformation on the right and the left. i used to be all over these types of sites until I found out that they are mostly propaganda and twist facts to meet agendas.

 

[DrLove]

Fine, let me know if the real media sees any of this and reports. Until then, I will eliminate this as a garbage story.

You said you don't read extreme left or extreme right. ProPublica is neither. You lose.

 

[Flash]

There have to be enough smart people in Wisconsin to give RonAnon Johnson the boot!

The Trump administration championed the pass-through provision as tax relief for “small businesses.”​

​

Confidential tax records, however, reveal that Johnson’s last-minute maneuver benefited two families more than almost any others in the country — both worth billions and both among the senator’s biggest donors.​

​

In November 2017, with the administration of President Donald Trump rushing to get a massive tax overhaul through Congress, Sen. Ron Johnson stunned his colleagues by announcing he would vote “no.”​

​

Making the rounds on cable TV, the Wisconsin Republican became the first GOP senator to declare his opposition, spooking Senate leaders who were pushing to quickly pass the tax bill with their thin majority. “If they can pass it without me, let them,” Johnson declared.​

​

Johnson’s demand was simple: In exchange for his vote, the bill must sweeten the tax break for a class of companies that are known as pass-throughs, since profits pass through to their owners. Johnson praised such companies as “engines of innovation.” Behind the scenes, the senator pressed top Treasury Department officials on the issue, emails and the officials’ calendars show.​

​

Within two weeks, Johnson’s ultimatum produced results. Trump personally called the senator to beg for his support, and the bill’s authors fattened the tax cut for these businesses. Johnson flipped to a “yes” and claimed credit for the change. The bill passed.​

​

Dick and Liz Uihlein of packaging giant Uline, along with roofing magnate Diane Hendricks, together had contributed around $20 million to groups backing Johnson’s 2016 reelection campaign.​

​

The expanded tax break Johnson muscled through netted them $215 million in deductions in 2018 alone, drastically reducing the income they owed taxes on. At that rate, the cut could deliver more than half a billion in tax savings for Hendricks and the Uihleins over its eight-year life.​

​

But the tax break did more than just give a lucrative, and legal, perk to Johnson’s donors. In the first year after Trump signed the legislation, just 82 ultrawealthy households collectively walked away with more than $1 billion in total savings, an analysis of confidential tax records shows.​

​

Republican and Democratic tycoons alike saw their tax bills chopped by tens of millions, among them: the Bechtel family, owners of the engineering firm that bears their name; and the heirs of the late Houston pipeline billionaire Dan Duncan.​

Secret IRS Files Reveal How Much the Ultrawealthy Gained by Shaping Trump’s “Big, Beautiful Tax Cut”

Billionaire business owners deployed lobbyists to make sure Trump’s 2017 tax bill was tailored to their benefit. Confidential IRS records show the windfall that followed.

www.propublica.org

You dumb shit. You are really confused about things like this aren't you?

The billionaires and Wall Street backed Joe Dufus in the election just like they backed the Worthless Negro and Crooked Hillary.

They make their money on globalization (which produces far more income than any rinky dink tax break) that the filthy ass Libtards support.

 

[Gabe Lackmann]

Wait till this year's tax season.

 

[Flash]

Just think how much money George Soros is going to make because Joe Dufus stopped the Keystone Pipeline and now to get Canadian oil we have to use the Soros rail line and trucks?

Just think of all the money these Environmental Wackos companies are going to make with all that filthy government money flowing into their pockets?

Just think how the filthy ass unions are going to get a tremendous windfall because the stupid government contracts paid for out of borrowed money in the stupid stimulus packages just passed? The unions that are cash cows for the scumbag Democrats.

Democrats = Sugar Daddies for all the scum in the country.

 

[Papageorgio]

You said you don't read extreme left or extreme right. ProPublica is neither. You lose.

They are rated left wing by a left wing rating group that randomly rates groups. I am a winner because I stay off such BS sites. You are free to believe whatever myths you want and I’ll search for the truth.

 

[Papageorgio]

There have to be enough smart people in Wisconsin to give RonAnon Johnson the boot!

The Trump administration championed the pass-through provision as tax relief for “small businesses.”​

​

Confidential tax records, however, reveal that Johnson’s last-minute maneuver benefited two families more than almost any others in the country — both worth billions and both among the senator’s biggest donors.​

​

In November 2017, with the administration of President Donald Trump rushing to get a massive tax overhaul through Congress, Sen. Ron Johnson stunned his colleagues by announcing he would vote “no.”​

​

Making the rounds on cable TV, the Wisconsin Republican became the first GOP senator to declare his opposition, spooking Senate leaders who were pushing to quickly pass the tax bill with their thin majority. “If they can pass it without me, let them,” Johnson declared.​

​

Johnson’s demand was simple: In exchange for his vote, the bill must sweeten the tax break for a class of companies that are known as pass-throughs, since profits pass through to their owners. Johnson praised such companies as “engines of innovation.” Behind the scenes, the senator pressed top Treasury Department officials on the issue, emails and the officials’ calendars show.​

​

Within two weeks, Johnson’s ultimatum produced results. Trump personally called the senator to beg for his support, and the bill’s authors fattened the tax cut for these businesses. Johnson flipped to a “yes” and claimed credit for the change. The bill passed.​

​

Dick and Liz Uihlein of packaging giant Uline, along with roofing magnate Diane Hendricks, together had contributed around $20 million to groups backing Johnson’s 2016 reelection campaign.​

​

The expanded tax break Johnson muscled through netted them $215 million in deductions in 2018 alone, drastically reducing the income they owed taxes on. At that rate, the cut could deliver more than half a billion in tax savings for Hendricks and the Uihleins over its eight-year life.​

​

But the tax break did more than just give a lucrative, and legal, perk to Johnson’s donors. In the first year after Trump signed the legislation, just 82 ultrawealthy households collectively walked away with more than $1 billion in total savings, an analysis of confidential tax records shows.​

​

Republican and Democratic tycoons alike saw their tax bills chopped by tens of millions, among them: the Bechtel family, owners of the engineering firm that bears their name; and the heirs of the late Houston pipeline billionaire Dan Duncan.​

Secret IRS Files Reveal How Much the Ultrawealthy Gained by Shaping Trump’s “Big, Beautiful Tax Cut”

Billionaire business owners deployed lobbyists to make sure Trump’s 2017 tax bill was tailored to their benefit. Confidential IRS records show the windfall that followed.

www.propublica.org

You also realize that Obama and his TARP signing resulted In the largest transfer of wealth to the rich, which stood as a record until Trump signed the Cares Act, which was until Biden signed his Cares act bill earlier this year.

Trillions were transferred at those times and we are going to do it again and again and it doesn’t matter if a Democrat or Republican is President. To be fair, the bill Obama and Trump signed was Veto proof because so many Republicans and Democrats voted for it. Biden could have stopped it with a veto, but I believe both parties work for the rich and throw the rest crumbs to appease the masses so they can continue on.

 

[iceberg]

and how much has covid shifted money to the. rich?