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:

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

    ReplyDelete