Check out the links below. You’ll learn about a tax break bonanza tucked inside the Covid-19 economic rescue package.
It’s the price rank-and-file Americans are paying to get our share of the bailout pie. Their share? $174 billion in temporary tax breaks for financial elites, according to New York Times journalist Jesse Drucker.
One break applies only to companies with at least $25 million in receipts. Another is geared to households earning at least $500,000 a year.
Says Drucker: Two years after Congressional Republicans and President Trump lavished America’s wealthiest families and companies with lucrative tax cuts, these same beneficiaries have succeeded in winning a lavish second helping.
Is this the kind of sacrificing your great-grandparents might have remembered? Or has contemporary America become instead, a country of rigging and gaming schemes? A country beset by vulture capitalism?
If so, how shall we reclaim the rightful mantra of American Exceptionalism? How shall the hobby horse of the rich and powerful, be turned again into a plow horse, productively in the field, pulling the plow?