Other Things in the Coronavirus Relief Bill

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  1. crankalicious profile image83
    crankaliciousposted 5 years ago

    I know conservatives have taken issue with some of the provisions put in the Coronavirus relief bill, both successfully and unsuccessfully, by Democrats. Here's another one that might interest some. The source on this is the magazine The Week, page 7:

    "Real estate tycoons such as President Trump and his son-in-law Jared Kushner got a provision in the $2 trillion coronavirus relief package that will let them avoid an estimated $170 billion in federal taxes over the next 10 years, The New York Times reported last week. Inserted by Senate Republicans, the change to the tax code was buried on page 203 of the 880-page bill. The tax law passed in 2017 limited investors' ability to use depreciation on real estate to minimize taxes on profits from other investments. Wealthy developers like Trump and Kushner have used the technique to avoid paying taxes despite massive profits across their portfolios. The relief bill Trump signed last week lifted the 2017 restriction, letting taxpayers use paper losses to shelter an unlimited amount of income. An independent congressional analysis found that the rule, which applies to this year and two retroactive years, is the second-biggest tax giveaway in the $2 trillion legislation."

    1. Randy Godwin profile image60
      Randy Godwinposted 5 years agoin reply to this

      You won't hear the Trump enablers bitch about this I'll wager, Crank. Anything which enriches the man baby is fine.

      1. profile image0
        Sairayposted 5 years agoin reply to this

        Trump recently came here to India, and had meeting with Indian businessmen. Obama also had come here, but he went to visit Gandhi's ashram instead.

      2. MizBejabbers profile image93
        MizBejabbersposted 5 years agoin reply to this

        No, they were too busy bitching about something Nancy Pelosi sponsored that would keep rural hospitals open during the CV-19 pandemic. I'm not sure if it had anything to do with this bill or if it was a different one, but that's really irrelevant at this point, and I don't care enough to do the research.

 
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