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I shall post videos, graphs, news stories, and other material there. We shall use some of this material in class, and you may review the rest at your convenience. You will all receive invitations to post to the blog. (Please let me know if you do not get such an invitation.) I encourage you to use the blog in these ways:
To post questions or comments about the readings before we discuss them in class;
To follow up on class discussions with additional comments or questions.
To post relevant news items or videos.

There are only two major limitations: no coarse language, and no derogatory comments about people at the Claremont Colleges.


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Wednesday, April 15, 2020

A very normal and totally not sinister part of the CARES Act

A new, not at all concerning, revelation shows that the CARES Act contains a tax break for wealthy Americans that saves over 43,000 millionaires an average of $1,700,000 each. The tax break, which affects only 24,000 people who make under $100,000 and saves them a total of $2.3 billion, saves millionaires $70.3 billion. This amounts to almost 82% of the tax cut. It is very surprising to me that something that would have such wide appeal, especially among the working class, was buried deep in the CARES Act and has not been vocally challenged by Republicans and Democrats alike.

The total value of this tax cuts is more than the total new funding for hospitals in America, but who needs hospitals anyways? So far, there is no word as to whether President Trump has found a way to have his name physically written on a tax cut, but I will keep you posted.

2 comments:

Jacob Lyle said...

wow. really surprised that congress would do that. i thought they were looking out for the little guy. aw shucks!

Howard L said...

Very thoughttful blog

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