They are not getting anything from the US government – they pay less taxes. This article tries to make a case a if it was the same thing. It is not.
wow amazing
Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7M
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Re: Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7M
#12Landlords who took big losses from tenants who didn't or couldn't pay their rent and suffered a loss will be able to deduct more of their loss from their personal income tax.
Re: Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7M
#13I'm assuming that's by design.
Re: Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7M
#14They are not getting anything from the US government – they pay less taxes. This article tries to make a case a if it was the same thing. It is not.
If anyone pays a million less in taxes then someone gave them a million dollars back. so yes, you are giving them something. One can argue in some irrational way that taxes are theft so you never 'give' someone something if you reduce their taxes. At the end of that game, you have more money than you had before, gift or other political arguments aside.
Someone who was going to pay a million in taxes and now has 1 mil less is not going to put their money into the economy the same what that 1000 people with moderate income, like say restaurant workers getting $1,700 would. Those people poorer will spend all that money. I'm fortunate to be a well compensated software engineer, and I pay a huge amount of taxes. I'm not out there begging for more money (via tax reductions) and then claiming it was already my money, not a gift. That's a dishonest argument.
Re: Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7M
#15Earlier quoted context omitted.
In both cases there is 1.7 mil dollars less in public budget, I don't see how this is different.
It's different based on how you view income. Many conservatives view income as "earned" and then taxes as appropriation ("taken away"). Under such a perspective it is only a return of what was originally theirs in the first place. This country is run on deficits/debt so 1.7M less from rich people is not marginally 1.7M less to poor people.
People also argue that the earth is really flat, that tax reductions always pay for themselves, and your comment is equivalently powerful to those.
Re: Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7M
#16This is a pretty reasonable thing to suspend at a time when landlords are essentially forgiving huge amounts of rent. It's super reasonable that they be able to deduct those losses on their taxes in an unlimited fashion.
Re: Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7M
#17This is a pretty reasonable thing to suspend at a time when landlords are essentially forgiving huge amounts of rent. It's super reasonable that they be able to deduct those losses on their taxes in an unlimited fashion.
Only if they don't request to be paid back later for said rent. Otherwise, that's just giving rich people free money.
Re: Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7M
#18This is a pretty reasonable thing to suspend at a time when landlords are essentially forgiving huge amounts of rent. It's super reasonable that they be able to deduct those losses on their taxes in an unlimited fashion.
Then why not target it specifically towards landlords who have forgiven rent?
Re: Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7M
#19They are not getting anything from the US government – they pay less taxes. This article tries to make a case a if it was the same thing. It is not.
If anyone pays a million less in taxes then someone gave them a million dollars back. so yes, you are giving them something. One can argue in some irrational way that taxes are theft so you never 'give' someone something if you reduce their taxes. At the end of that game, you have more money than you had before, gift or other political arguments aside. Someone who was going to pay a million in taxes and now has 1 mil…
> is not going to put their money into the economy the same what that 1000 people with moderate income, like say restaurant workers getting $1,700 would. Those people poorer will spend all that money.
Wealthier people spend or invest all of their money. Only drug dealers hoard cash, and that's only because they have difficulty laundering it.
Re: Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7M
#20This is a pretty reasonable thing to suspend at a time when landlords are essentially forgiving huge amounts of rent. It's super reasonable that they be able to deduct those losses on their taxes in an unlimited fashion.
Only if they don't request to be paid back later for said rent. Otherwise, that's just giving rich people free money.
People who can't pay rent now are unlikely to be able to ever pay it back later. It's probably better for everyone to just write it off.