The Joint Commission on Taxation report, requested by Senator Sheldon Whitehouse and Representative Llloyd Doggett, concluded that suspending the “pass through” limitation would cost the government over $90 billion in 2020 alone. Critics have argued that the benefits disproportionately accrue to wealthy individuals, including hedge fund investors and real-estate business owners and the JCT confirms this.
The analysis by the JCT showed in just how skewed a fashion the tax provision benefits the wealthy. It that, “82 percent of the benefits of the policy go to about 43,000 taxpayers who earn more than $1 million annually.”If you take the report’s calculations at face value, that means that, on average, each of the eligible taxpayers would get a windfall of ~$1.7 million!... [+]This number represents an average and clearly not all of those earning “only” $1 million will receive a $1.7 million tax cut; however, just as some may receive less than the $1.7 million, some may benefit much more.
Hey Forbes, You report like Republicans are the only rich people on the US. I wonder if Bill Gates or Bezos agree with you. Why don't you publish all the DEMOCRATS the are Millionaires that voted for this bill. Like PELOSI, SANDERS, FEINSTEIN, and many more...
disappointed to say the least. This article has zero facts. The title and the picture is simply to grab a reader then write some fluffy nonsense to confuse them so they will repost on Facebook. I thought you were more credible than that.
ziv_shahar Clickbate title. Actual numbers (like $300-400 per person) omitted to make it sound like some are getting $1.7M checks. And $1.7M out of $2.2T is statistically irrelevant. Total class warfare trash article. You should be ashamed of yourself! Delete your account
kfranklin79
Glad you got your entry in for most intentionally deceptive headline of 2020z
ziv_shahar $1.7M in stimulus checks? Your article says nothing about stimulus checks, rather talks about tax breaks. Quit feeding this false information into society. Be part of the solution, not part of the problem!
ziv_shahar Who wrote the provision in question? Why didn't you include this in your article?
We are living in the early stages of a kleptocracy
Jet fuel and stewardess are getting expensive.
If this were you! How would you act🤔
🎵 America, America, this is you 🎶
Because they need stimulation
Don’t forget that the GOP was upset about small payments to struggling Americans covered in that bill.
ziv_shahar These checks should be signed by the housekeepers, nannies, and gardeners.
You guys letting Buzzfeed write your headlines now?
Good question?
More convoluted BS from the media that makes huge accusations and fails to explain or exemplify how it’s true...playing on your naive, deer in the headlights, gullibility
Is it difficult to find and report who put it in there? Serious question
Lmfaoooooooooooooooooo this country’s a joke
Because Merika is been led by a douche
Because is America, what else?!
Well ain’t that a kick in the pants. Love being one of the struggling and reading about this, gives me warm fuzzies. 🥳
No, I am not getting one...
Hmmmm
Because this country is weird
Let me guess... Cuz they suck on something with veins.
Because they're apparently better looking than the rest of us?
Because the GOP is a disgrace.
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