Tax Change In Coronavirus Package Overwhelmingly Benefits Millionaires, Congressional Body Finds

[Mikeoxenormous]

Strange how tax cuts tend to benefit those that pay the most in taxes.

If I have to pay taxes, so should other people. It’s not greed. It’s fairness.

I paid $60,000 in taxes last year, isnt that enough, how much did you pay last year?

Just under twice that amount.

Let's say they passed a law that said I pay 0% of my income in taxes and you pay 50% of your income in taxes. That wouldn't be greedy of me, would it?

But they didnt, you say people should pay their fair share and most millionaires and billionaires pay more than the lower 50%. Why do you always vilify those who pick up the tab but never those that dont contribute even close to that amount.

It was an example, something to highlight the principle.

I'm just not a big fan of the government tax code cutting deals to the special people.

Cutting deals with special people , How?

Seems to me you should be bitching to the people who dont pay taxes but get money back just by sitting in their homes doing nothing but contributing to Global Warming..

 

[wamose]

How the hell does the Democratic majority justify that colossal fuck up to their constituents? They actually voted for the enrichment of rich White guys? That's totally flabbergasting.

 

[22lcidw]

By Jeff Stein

April 14, 2020 at 11:57 a.m. MST

"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.

The provision has fueled criticism by congressional Democrats and some tax experts who have called it a giveaway to the wealthy and real estate investors, who frequently face large losses on their investments. Conservatives have said enacting the limitation was a mistake in the 2017 law and suspending it gives badly needed liquidity during the economic downturn caused by the coronavirus pandemic by reducing their tax obligations."

~~ https://www.washingtonpost.com/busi...il&utm_source=newsletter&wpisrc=nl_tyh&wpmk=1 ~~

Real shitty of the GOP critters in the Senate to pull this shit without any disclosure or notice of those few critical lines in their 2017 bill being suspended in the new bill. Their was SUPPOSED to be an agreement last month that this type of underhanded shit was supposed to be tabled with their bipartisan agreement to work together without this shit. Can't trust a fucking liar to be truthful! No fucking honor with this GOP bunch in the Senate. I'm glad I shed the GOP back in Aug 1974 when the Crook left the WH for the last time!

Republicans, whatareyagonnado?

I'm still trying to figure out if washing your hands for 20 seconds is wasting water! All of those commercials and Prog agendas and groups organized by them thrown by the wayside. Have not seen a desert lack of water commercial in a while.

 

[colfax_m]

Strange how tax cuts tend to benefit those that pay the most in taxes.

If I have to pay taxes, so should other people. It’s not greed. It’s fairness.

I paid $60,000 in taxes last year, isnt that enough, how much did you pay last year?

Just under twice that amount.

Let's say they passed a law that said I pay 0% of my income in taxes and you pay 50% of your income in taxes. That wouldn't be greedy of me, would it?

But they didnt, you say people should pay their fair share and most millionaires and billionaires pay more than the lower 50%. Why do you always vilify those who pick up the tab but never those that dont contribute even close to that amount.

It was an example, something to highlight the principle.

I'm just not a big fan of the government tax code cutting deals to the special people.

Cutting deals with special people , How?

Seems to me you should be bitching to the people who dont pay taxes but get money back just by sitting in their homes doing nothing but contributing to Global Warming..

View attachment 323851

Why should I be bitching about them? They don’t make more money than me. I have a problem with people making more than me but paying less in taxes.

 

[Mikeoxenormous]

Strange how tax cuts tend to benefit those that pay the most in taxes.

If I have to pay taxes, so should other people. It’s not greed. It’s fairness.

I paid $60,000 in taxes last year, isnt that enough, how much did you pay last year?

Just under twice that amount.

Let's say they passed a law that said I pay 0% of my income in taxes and you pay 50% of your income in taxes. That wouldn't be greedy of me, would it?

But they didnt, you say people should pay their fair share and most millionaires and billionaires pay more than the lower 50%. Why do you always vilify those who pick up the tab but never those that dont contribute even close to that amount.

It was an example, something to highlight the principle.

I'm just not a big fan of the government tax code cutting deals to the special people.

Cutting deals with special people , How?

Seems to me you should be bitching to the people who dont pay taxes but get money back just by sitting in their homes doing nothing but contributing to Global Warming..

View attachment 323851

Why should I be bitching about them? They don’t make more money than me. I have a problem with people making more than me but paying less in taxes.

So they bitch and moan about you making more money than they are, so you need to pay even more of your taxes so they can have more. I see how the game works....Again, the top 10% pays 50% of the income tax burden to the IRS, the bottom 4% pays nothing, yet you say they shouldnt pay more?

 

[Preacher]

Strange how tax cuts tend to benefit those that pay the most in taxes.

If I have to pay taxes, so should other people. It’s not greed. It’s fairness.

I paid $60,000 in taxes last year, isnt that enough, how much did you pay last year?

Just under twice that amount.

Let's say they passed a law that said I pay 0% of my income in taxes and you pay 50% of your income in taxes. That wouldn't be greedy of me, would it?

But they didnt, you say people should pay their fair share and most millionaires and billionaires pay more than the lower 50%. Why do you always vilify those who pick up the tab but never those that dont contribute even close to that amount.

If the uber rich would pay their workers a legitimate wage then those workers would get out of poverty and actually have to PAY taxes...