Uncovered: MASSIVE Tax give away in Stimulus Bill

[The Banker]

Wealthy real estate developers like Trump score a huge tax break in the stimulus bill

The $2 trillion coronavirus stimulus bill passed by the Senate provides aid for average consumers and small businesses -- but there's also a lucrative tax break for wealthy real estate developers.

edition.cnn.com

Bonanza for Rich Real Estate Investors, Tucked Into Stimulus Package (Published 2020)

A small change to tax policy could hand $170 billion in tax savings to real estate tycoons.

www.nytimes.com.

https://www.congress.gov/116/bills/hr748/BILLS-116hr748eas.pdf

Currently if you own real estate and other businesses, you get to use depreciation AND improvement/upgrade expenses to write off the profits on your other businesses/income. Meaning If I make $1 million or $1 billion trading stocks or any other business, and I own real estate I can make tax deductions on that $1 million/billion profit by claiming depreciation on real estate or upgrade expenses. This is already a pretty big scam and windfall for real estate investors.

BUTTTTTT
This is capped at $500k, so you could only deduct $500k of that $1 million/billion or whatever the income is... BUTTTTT in this stimulus bill, republicans quietly slipped a provision in that removes the cap completely!!!!

Meaning now you can deduct any amount that you can come up with (even Billions)!!! So basically you can make millions/billions on non-real estate income and pay no taxes on it, by claiming depreciation and upgrades of your real estate investments!!!!

BUTTTT it gets even worse!!! They also made the removal of the cap retroactive for the past 3 years!!! So that means you can deduct the depreciation etc etc from 2018 and the government will send them a massive refund check!!!!

This is estimated to cost the government $180 Billion!! That $180 billion could go to hard working Americans, but it is going to the ultra wealthy. This is indefensible, but we know that Trumpers will somehow defend it, because they are sheep!! Stop crying about being over taxed, because you gladly support policy that lets the ultra wealthy pay no taxes on their millions/billions...

 

[ozro]

got a link to the actual bill ?
the two links in the op are not trustworthy

 

[The Banker]

I don't want to hear any idiot republicans crying about welfare or give aways when they gladly support this kind of non-sense.

 

[The Banker]

got a link to the actual bill ?
the two links in the op are not trustworthy

gimme a fuckin break, what a sad pathetic excuse... This happened. you are such a sheep.

https://www.congress.gov/116/bills/hr748/BILLS-116hr748eas.pdf

go ahead, read an 800+ page bill now... pathetic...

 

[Dragonlady]

got a link to the actual bill ?
the two links in the op are not trustworthy

The New York Times and CNN may not be in the tank for Donald Trump, but neither is "untrustworthy". I realize Trumpkins hate truth tellers with a white hot passion, but facts are facts.

 

[The Banker]

got a link to the actual bill ?
the two links in the op are not trustworthy

The New York Times and CNN may not be in the tank for Donald Trump, but neither is "untrustworthy". I realize Trumpkins hate truth tellers with a white hot passion, but facts are facts.

Pretty much, any time you hit them with the facts, they try and claim it's fake news. Meanwhile they believe any lie Fox news tells them...

They epitomize sheep...

 

[ozro]

first off, that is an unsigned bill
secondly, you are making claims based on sources proven to lie.
got anything else before i take away your free speech and put you on ignore?

 

[ozro]

got a link to the actual bill ?
the two links in the op are not trustworthy

The New York Times and CNN may not be in the tank for Donald Trump, but neither is "untrustworthy". I realize Trumpkins hate truth tellers with a white hot passion, but facts are facts.

bullshit both sources are proven liars

 

[Nostra]

got a link to the actual bill ?
the two links in the op are not trustworthy

CNN and the NYTs?

OP is a joke.

 

[Mikeoxenormous]

Wealthy real estate developers like Trump score a huge tax break in the stimulus bill

The $2 trillion coronavirus stimulus bill passed by the Senate provides aid for average consumers and small businesses -- but there's also a lucrative tax break for wealthy real estate developers.

edition.cnn.com

Bonanza for Rich Real Estate Investors, Tucked Into Stimulus Package (Published 2020)

A small change to tax policy could hand $170 billion in tax savings to real estate tycoons.

www.nytimes.com.

https://www.congress.gov/116/bills/hr748/BILLS-116hr748eas.pdf

Currently if you own real estate and other businesses, you get to use depreciation AND improvement/upgrade expenses to write off the profits on your other businesses/income. Meaning If I make $1 million or $1 billion trading stocks or any other business, and I own real estate I can make tax deductions on that $1 million/billion profit by claiming depreciation on real estate or upgrade expenses. This is already a pretty big scam and windfall for real estate investors.

BUTTTTTT
This is capped at $500k, so you could only deduct $500k of that $1 million/billion or whatever the income is... BUTTTTT in this stimulus bill, republicans quietly slipped a provision in that removes the cap completely!!!!

Meaning now you can deduct any amount that you can come up with (even Billions)!!! So basically you can make millions/billions on non-real estate income and pay no taxes on it, by claiming depreciation and upgrades of your real estate investments!!!!

BUTTTT it gets even worse!!! They also made the removal of the cap retroactive for the past 3 years!!! So that means you can deduct the depreciation etc etc from 2018 and the government will send them a massive refund check!!!!

This is estimated to cost the government $180 Billion!! That $180 billion could go to hard working Americans, but it is going to the ultra wealthy. This is indefensible, but we know that Trumpers will somehow defend it, because they are sheep!! Stop crying about being over taxed, because you gladly support policy that lets the ultra wealthy pay no taxes on their millions/billions...

This is estimated to cost the government $180 billion? Where does that money come from you fucking retard? From the people who "actually" work. So dumbasses like you who sit on your ass all day collecting welfare, bitching and moaning how fucked your life is, just cant come to grips that maybe some people would like to keep more of their earned income. Cry me a fucking river, you worthless liberal scum.

 

[Nostra]

got a link to the actual bill ?
the two links in the op are not trustworthy

gimme a fuckin break, what a sad pathetic excuse... This happened. you are such a sheep.

https://www.congress.gov/116/bills/hr748/BILLS-116hr748eas.pdf

go ahead, read an 800+ page bill now... pathetic...

Post the part of the bill that confirms your claims...

 

[sparky]

Come gather round people ,wherever you roam
And admit your GubMit around you has grown
And accept it soon or be picked to the bone
For the times they are a changin’

Come pundits and critics, and you partisan hacks
They all want your votes, but don’t have your backs
And don’t speak too soon for the media’s skewed spin
For there’s no telling who they’re blaming
For the loser is us, if you let them win
For the times they are a changin’


Come senators ,congressmen who patronize all
You give us the crumbs while your lobbyists take all
You make all the rules, yet abide none at all
And the middle class battle is ragin’
May fate shake your windows and rattle your walls
For the times they are a changin’

Come mothers and fathers all out through the land
Don’t stand on old times as if it were the plan
Your sons and your daughters need now take a stand
And the old road is rapidly aging
Please take the new road, and do lend a hand
For the times they are a changin’

The line is drawn, and the curse had been cast
The slow one now will soon be the last
As the old world is rapidly fading
As oligarchs profit, the rest of us fast
For the times they are a changin’

~S~w/apologies to Mr Dylan

 

[ozro]

got a link to the actual bill ?
the two links in the op are not trustworthy

CNN and the NYTs?

OP is a joke.

bad joke from idiots with evil intent.

 

[Nostra]

For one to claim any kind of a tax cut is a "tax giveaway", one must first believe all money belongs to the govt.

Idiot.

 

[Staidhup]

Oh now we have commercial real estate experts and self proposed tax interpretation experts in our midsts. Before you type anything more please consult with a CPA. I believe congress has been too busy working on impeachment to address depreciation schedules that were omitted from previous tax legislation passed which was disclosed in the WSJ, IBD and IRS tax revision literature.

 

[The Banker]

first off, that is an unsigned bill
secondly, you are making claims based on sources proven to lie.
got anything else before i take away your free speech and put you on ignore?

Trump signed it. You are a sheep. Now go watch more lies on Fox news. Put me on ignore and continue being an uniformed sheep... you should be embarrassed over your stupidity...

got a link to the actual bill ?
the two links in the op are not trustworthy

gimme a fuckin break, what a sad pathetic excuse... This happened. you are such a sheep.

https://www.congress.gov/116/bills/hr748/BILLS-116hr748eas.pdf

go ahead, read an 800+ page bill now... pathetic...

Post the part of the bill that confirms your claims...

You sad pathetic sheep. Clinging to the most pathetic excuse... The fake news excuse is soooo old. Go ahead read the bill...

https://www.congress.gov/116/bills/hr748/BILLS-116hr748eas.pdf

It starts on page 196.

So now what do you have to say now jerk off. You are an embarrassment to hard working Americans, and a total partisan sheep...

 

[Dont Taz Me Bro]

Wealthy real estate developers like Trump score a huge tax break in the stimulus bill

The $2 trillion coronavirus stimulus bill passed by the Senate provides aid for average consumers and small businesses -- but there's also a lucrative tax break for wealthy real estate developers.

edition.cnn.com

Bonanza for Rich Real Estate Investors, Tucked Into Stimulus Package (Published 2020)

A small change to tax policy could hand $170 billion in tax savings to real estate tycoons.

www.nytimes.com.

https://www.congress.gov/116/bills/hr748/BILLS-116hr748eas.pdf

Currently if you own real estate and other businesses, you get to use depreciation AND improvement/upgrade expenses to write off the profits on your other businesses/income. Meaning If I make $1 million or $1 billion trading stocks or any other business, and I own real estate I can make tax deductions on that $1 million/billion profit by claiming depreciation on real estate or upgrade expenses. This is already a pretty big scam and windfall for real estate investors.

BUTTTTTT
This is capped at $500k, so you could only deduct $500k of that $1 million/billion or whatever the income is... BUTTTTT in this stimulus bill, republicans quietly slipped a provision in that removes the cap completely!!!!

Meaning now you can deduct any amount that you can come up with (even Billions)!!! So basically you can make millions/billions on non-real estate income and pay no taxes on it, by claiming depreciation and upgrades of your real estate investments!!!!

BUTTTT it gets even worse!!! They also made the removal of the cap retroactive for the past 3 years!!! So that means you can deduct the depreciation etc etc from 2018 and the government will send them a massive refund check!!!!

This is estimated to cost the government $180 Billion!! That $180 billion could go to hard working Americans, but it is going to the ultra wealthy. This is indefensible, but we know that Trumpers will somehow defend it, because they are sheep!! Stop crying about being over taxed, because you gladly support policy that lets the ultra wealthy pay no taxes on their millions/billions...

And at the end of the day only one person in Congress out of 535 stood up for what was right and opposed this monstrosity and he got verbally tarred and feathered for it.

 

[The Banker]

For one to claim any kind of a tax cut is a "tax giveaway", one must first believe all money belongs to the govt.

Idiot.

SO wait you support a tax loop hole give away that lets millionaires and billionaires pay substantially less than their fair share in taxes? Why don't we just say that all billionaires pay 1% in taxes then???

You are a pathetic partisan sheep. You don't care about America, you only care about the GOP and will never criticize anything they do. This is indefensible...


Just admit it, this is a terrible tax loop hole and give away to ultra wealthy people that don't need it in anyway... You can't do that... sheep.

 

[shockedcanadian]

Ultimately this was passed by BOTH parties.

At $2T, I'm surprised there isn't MORE for the wealthy. Though, not everyone who owns property is living in the top 1%.

 

[The Banker]

Wealthy real estate developers like Trump score a huge tax break in the stimulus bill

The $2 trillion coronavirus stimulus bill passed by the Senate provides aid for average consumers and small businesses -- but there's also a lucrative tax break for wealthy real estate developers.

edition.cnn.com

Bonanza for Rich Real Estate Investors, Tucked Into Stimulus Package (Published 2020)

A small change to tax policy could hand $170 billion in tax savings to real estate tycoons.

www.nytimes.com.

https://www.congress.gov/116/bills/hr748/BILLS-116hr748eas.pdf

Currently if you own real estate and other businesses, you get to use depreciation AND improvement/upgrade expenses to write off the profits on your other businesses/income. Meaning If I make $1 million or $1 billion trading stocks or any other business, and I own real estate I can make tax deductions on that $1 million/billion profit by claiming depreciation on real estate or upgrade expenses. This is already a pretty big scam and windfall for real estate investors.

BUTTTTTT
This is capped at $500k, so you could only deduct $500k of that $1 million/billion or whatever the income is... BUTTTTT in this stimulus bill, republicans quietly slipped a provision in that removes the cap completely!!!!

Meaning now you can deduct any amount that you can come up with (even Billions)!!! So basically you can make millions/billions on non-real estate income and pay no taxes on it, by claiming depreciation and upgrades of your real estate investments!!!!

BUTTTT it gets even worse!!! They also made the removal of the cap retroactive for the past 3 years!!! So that means you can deduct the depreciation etc etc from 2018 and the government will send them a massive refund check!!!!

This is estimated to cost the government $180 Billion!! That $180 billion could go to hard working Americans, but it is going to the ultra wealthy. This is indefensible, but we know that Trumpers will somehow defend it, because they are sheep!! Stop crying about being over taxed, because you gladly support policy that lets the ultra wealthy pay no taxes on their millions/billions...

This is estimated to cost the government $180 billion? Where does that money come from you fucking retard? From the people who "actually" work. So dumbasses like you who sit on your ass all day collecting welfare, bitching and moaning how fucked your life is, just cant come to grips that maybe some people would like to keep more of their earned income. Cry me a fucking river, you worthless liberal scum.

Pathetic!!!!!

So you support policy that gives a massive tax break to millionaires and billionaires, so they don't have to pay their fair share in taxes??? You Trump sheep are truly pathetic. You can't criticize anything the GOP does, even something as indefensible as this loop hole.