Posted on 05/13/2020 8:36:15 AM PDT by Republican Wildcat
Democrat House Speaker Nancy Pelosi unveiled her new $3 trillion coronavirus stimulus package on Tuesday, which she reportedly crafted largely without bipartisan input, that includes a massive tax break for the super rich in predominately blue states and directs taxpayer money to illegal aliens.
“It is imperative that we address the needs of the American people with clarity on how we proceed,” Pelosi said on Tuesday afternoon. “That is why today House Democrats are introducing the HEROES Act, named for our heroes, whose provisions are largely based on the four previous bipartisan bills we have passed. The HEROES Act focus on three pillars, opening our economy safely and soon, honoring our heroes, and then putting much needed money into the pockets of the American people.”
Buried deep inside her bill is a measure that would “reinstate the so-called SALT itemized deduction for 2020 and 2021,” CNBC reported. “The Tax Cuts and Jobs Act, which went into effect in 2018, limited the amount of state and local tax deductions filers could claim on their tax returns to $10,000.”
The move would mostly benefit residents in high-tax states like California, New York, New Jersey, and Connecticut — all of which are Democrat strongholds.
The Committee for a Responsible Federal Budget reported:
Repealing the SALT cap retroactively for two years will also send out checks as people amend their 2018 and 2019 taxes, but those checks would be almost exclusively sent to high-income households. The average household making over $1 million would receive over $100,000. Households making less than $50,000 would receive almost no benefit from repealing or raising the SALT cap.
(Excerpt) Read more at dailywire.com ...
This woman is EVIL and an ANTI American POS who should be in PRISON
It is even worse in the full article:
“This bill also lets wealthy people who make money from dividends and royalties claim the earned income tax credit, which is an anti-poverty provision.”
Someone on the Republican side should respond with a provision calling for targeted aid to individuals and companies wanting to relocate out of high risk zones like NYC and San Francisco.
Democrats give tax breaks to the super-rich. This is their antithesis.
Too bad for you, Mr. Soros, the synthesis would squeeze the entire democrat party out of existence.
Protecting the “old money” and preventing any “new money.” That is their MO.
Also, since she “claims” this is to help “Americans” add an amendment requiring valid proof of citizenship to those receiving said benefits.
I can’t imagine you could find a majority of voters in even the bluest district that would agree that wealthy investors should be able to claim the earned-income tax credit, let alone in swing districts. Alas, few will know this as the news media will not report it since it is Democrats that propose it.
The purpose of the Democrat Party is to elect liars and thieves to public office so that they have access to the public treasuries so that they can loot them.
“But I know it’s not fair to citizens in other states”
Thank you UnixGeek.
Few who would greatly benefit from restoring the egregious SALT deductions have had the integrity to point this out.
You are a hero, of reason, of faith and of this Republic.
With that tax credit it was essentially allowing California and other states to just pass on the costs of their own taxation to other states without the local politicians paying the consequences of raising them so high to begin with.
The move would mostly benefit residents in high-tax states like California, New York, New Jersey, and Connecticut — all of which are Democrat strongholds.
Never bail out a blue state they caused their own problems and expect the rest of the states to help them.
Democrat logic in action
Buried deep inside her bill is a measure that would “reinstate the so-called SALT itemized deduction for 2020 and 2021,” CNBC reported. “The Tax Cuts and Jobs Act, which went into effect in 2018, limited the amount of state and local tax deductions filers could claim on their tax returns to $10,000.”
HA! Sometimes I say the craziest things.
That’s my fear also. In a sane world, this bill would never have been written. If by chance it was written and it did get to the senate, it would be rejected 100 to 0. We haven’t lived in a sane world for a very long time. I suspect the same anti-Trump people will vote to pass it.
These omnibus spending bills were the brainchild of Newt Gingrich back in the day when Bill Clinton was threatening to shut the government down every Thanksgiving and Christmas.
Back then, they were called Continuing Resolutions. Somehow that morphed into Omnibus Spending Bills.
Goodbye, debate and discussion, hello, massive debt.
You are a patriot, Sir.
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