That’s my name for a provision that was sneaked into the 880-page bill in March that was meant to bail out America’s economy. This giveaway provides $135 billion to very wealthy Americans such as real estate tycoons: Some 43,000 people with annual incomes of more than $1 million will each get a $1.6 million benefit.
Nicholas Kristof @ https://www.nytimes.com/2020/05/23/opinion/sunday/coronavirus-economic-response.html
About 82 percent of the Zillionaire Giveaway goes to those earning more than $1 million a year, according to Congress’s Joint Committee on Taxation. In other words, a single mom juggling two jobs gets a maximum $1,200 stimulus check — and then pays taxes so that a real estate mogul can receive $1.6 million. Read the entire piece HERE.
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There are other giveaways that you may not know about. “Tucked away deep in the nearly 2,000-page Health and Economic Recovery Omnibus Emergency Solutions, or HEROES, Act, is a section that will funnel money to defense and intelligence companies and their top executives, according to experts,” writes Jake Peterson in ProPublica. Read the entire article HERE.