capitalism
Out of context: Reply #441
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- utopian1
How Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7 Million
A $1.7 million stimulus check?
While wealthy Americans are not eligible for the comparatively measly $1,200 stimulus checks that are now being disbursed to many Americans, they are on pace to do even better. 43,000 taxpayers, who earn more than $1 million annually, are each set to receive a $1.7 million windfall, on average, thanks to a provision buried in the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
You may or may not be surprised that some of the language conveniently inserted into the $2.2 trillion-dollar Coronavirus Aid, Relief, and Economic Security Act (CARES) skews heavily in favor of the wealthy. The provision doling out literally millions of dollars is aimed at a limitation that was created in 2017 when Republicans overhauled the tax code. It “temporarily suspends a limitation on how much owners of businesses formed as “pass-through” entities can deduct against their non-business income, such as capital gains, to reduce their tax liability,” according to The Washington Post.
- This is how trickle down economics works.utopian
- Trickle upChimp
- Gotta love corporate welfare and crony capitalism. Taxpayer monies going to those who pay less taxes w/o a tea party or libertarian in sight for miles...whatthefunk
- How to destroy the middle class. Give millionaires and people under $75k money. Everyone in the middle can fuck off.********
- ^cuz you don't get votes from the middle class********
- capitalism doesn't involve tax codes... the problem is people smearing an idea ruined by gov to gain even more gov control... hopefully covid19 ends public scho********
- ols********