But, but, but, but ... per Piglosi, giving big tax cuts to the rich is okay 'cuz most of these millionaires come from Kalifornia and New Yuck.
http://twitchy.com/gregp-3534/2020/03/31/president-trump-wants-to-fund-jobs-and-infrastructure-in-a-phase-4-stimulus-while-nancy-pelosi-looks-to-give-millionaires-a-huge-tax-cut/
Shot . . .
President Trump wants $2 trillion of Phase 4 stimulus to be "VERY BIG & BOLD" and "focused solely on jobs and rebuilding the once great infrastructure of our Country":
Donald J. Trump ~ With interest rates for the United States being at ZERO, this is the time to do our decades long awaited Infrastructure Bill. It should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country! Phase 4
Chaser . . .
Nancy Pelosi wants Phase 4 to include a "full rollback of the limit on the state and local tax deduction, or SALT." From the New York Times:
As lawmakers prepare for another round of fiscal stimulus to address economic fallout from the coronavirus pandemic, Speaker Nancy Pelosi suggested the next package include a retroactive rollback of a tax change that hurt high earners in states like New York and California.
A full rollback of the limit on the state and local tax deduction, or SALT, would provide a quick cash infusion in the form of increased tax rebates to an estimated 13 million American households - nearly all of which earn at least $100,000 a year.
Which means "more than half the benefits of such an effort would go to millionaires":
Jonathan Swan ~ "More than half the benefits of such an effort would go to millionaires." http://nyti.ms/3dKzDtc
Woman of the people!
Jeffrey Stein ~ @jimtankersley reporting Pelosi wants to roll back SALT cap as part of Dems' next coronavirus response package.
More than half of $77B cost of repealing cap go to ppl earning more than $1 million, JCT has found.
Almost all benefits go to +$200K earners.
No, we can't make this up if we tried:
Rep. Kevin Brady ~ PELOSI - Coronovirus Economic Cure: Tax Breaks for Millionaires.
Maybe this will help them afford box seats at the Kennedy Center.
Can't make this up. ...
The essential American soul is hard, isolate, stoic, and a killer. It has never yet melted. ~ D.H. Lawrence
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