Biff_Poindexter
Diamond Member
White House secures ‘three martini lunch’ tax deduction in draft of coronavirus relief package
WASHINGTON - The draft language of the emergency coronavirus relief package includes a tax break for corporate meal expenses pushed by the White House and denounced by congressional Democrats, according to a summary of the deal circulating among congressional officials...
www.seattletimes.com
"The draft language of the emergency coronavirus relief package includes a tax break for corporate meal expenses pushed by the White House and denounced by congressional Democrats -- Democrats recoiled at the proposal; it has also been denounced as ineffective by conservative tax experts. Democratic leaders agreed to the provision in exchange for Republicans agreeing to expand tax credits for low-income families and the working poor in the final package -- “Republicans are nickel-and-diming benefits for jobless workers, while at the same time pushing for tax breaks for three-martini power lunches. It’s unconscionable,” said Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee."
This was a brilliant move by Trump and it is unfairly being painted as a tax break that mostly benefits corporations when it's probably one of the most important tax policies ever passed on the behalf of the working class poor in American history...
So yea, we had to give up tax credits to low income folks who really don't matter in the scheme of things -- but if that is who Dems want to waste tax benefits on, so be it -- the most important thing is that we get the much needed "3-martini lunch" tax break passed for Real Americans...that should first and foremost ahead of any direct stimulus checks and any tax credits for working class peasants...