How low can you go

[Phil1111 911]

Wealthy real estate developers like Trump score a huge tax break in the stimulus bill

"The $2 trillion coronavirus stimulus bill passed by the Senate provides aid for average consumers and small businesses -- but there's also a lucrative tax break for wealthy real estate developers.

That's because the stimulus bill removes limits on the amount of losses that wealthy investors can use to offset taxes, by writing down the gradual depreciation of assets like real estate. Those limits were put into place as part of President Trump's 2017 tax reform bill.

The New York Times was the first to report this nuance in the stimulus bill, which can be found in a brief section on page 203 of the 880-page document. The Times also cited a draft congressional analysis that said this part of the stimulus bill would lead to $170 billion in tax breaks over ten years."

 

Just more of the same for the pigs in the trough.

[SkyDekker 1,123]

13 minutes ago, Phil1111 said:

Wealthy real estate developers like Trump score a huge tax break in the stimulus bill

"The $2 trillion coronavirus stimulus bill passed by the Senate provides aid for average consumers and small businesses -- but there's also a lucrative tax break for wealthy real estate developers.

That's because the stimulus bill removes limits on the amount of losses that wealthy investors can use to offset taxes, by writing down the gradual depreciation of assets like real estate. Those limits were put into place as part of President Trump's 2017 tax reform bill.

The New York Times was the first to report this nuance in the stimulus bill, which can be found in a brief section on page 203 of the 880-page document. The Times also cited a draft congressional analysis that said this part of the stimulus bill would lead to $170 billion in tax breaks over ten years."

 

Just more of the same for the pigs in the trough.

Which of course really doesn't provide any stimulus and is purely to provide profits.