Is there any group of people in this country more disgusting than the Republican Party? While people are dying, healthcare workers don’t have PPEs. SBA has run out of money and tens of millions of people face unemployment they manage to slip this bullshit into the vital stimulus package before anyone had a chance to analyze the impact. I hope Moscow Mitch survives the pandemic because there is a special place in Hell waiting for him.
Yet Another Outrage
Published
Tidewater News and Opinion Forum 
That dwarfs the Kennedy Center allotment that the republicans have been up in arms about.
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Actually Trump supported the $25 million to the Center. And as we learned, the $5 million donation to the DNC was pure fabrication.
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This came out in the 2 trillion bill last month.
Not only does it affect the taxes of the very top, but it does so by loosening the already money making cap on teal estate depreciation. For most investors, that is already profit center.
90 billion? A tax cut when we are borrowing so much already.
And Republicans were sweating some gig worker or minimum wage earner getting a couple hundred extra.
Oh well. The GOP is doing all it can to destroy the country. They found a useful idiot to help them. And even he called some of them “human scum”. Gee, nice fit really.
IMHO
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Question:
Should the tax code not reflect reality?
Should costs not be counted as costs? Regardless of who incurs them?
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It does. The point was that a cap was put on depreciation allowances in 2018 tax bill.
It was done to fulfill some parameters in the bill to make it legal.
My question was simple. In an emergency, is enacting an additional tax cut, and making it retroactive, for people whose incomes are $1 million or more which is about 90% of the beneficiaries, a smart use of our credit. It is a $90 billion revenue loss.
I am damn sure it is not. I am also pretty sure the Democrat’s piddling “sausage deals” don’t add up to that amount.
And now the GOP is holding up the additional small business money because they say states and hospitals don’t need what the Democrats are adding. When in fact, states and hospitals are bearing the lion’s share of upfront money.
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You are introducing class and party where they don’t belong.
Either the changes bring the tax code into sync with reality or they don’t. How much a taxpayer earns or has is irrelevant.
If the tax codes is in conflict with reality, it should be fixed, and the benefits and costs fall where they may.
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@Tabor
Tax codes must sync with reality? Get real. When have they ever?
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Class and party?
This tax cut is in conflict with reality.
Not to worry, another $90 billion your progeny will have to deal with.
Plus that tax code was a friggin’ disaster. Adding a trillion a year to the debt and no growth in GDP or wages to show for it.
More reality.
And we are now adding trillions more.
Who is going to cover that?
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The GOP elephant (Mastodon, this time around) craps in the street and a Democratic president has to come along with a shovel to clean it up. Not sure if there will be a big enough shovel this time.
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