REVEALED: More than 80 per cent of a Republican tax provision hidden in the coronavirus relief act will go directly to millionaires and billionaires - as it is branded a 'rotten, un-American giveaway' | WHAT REALLY HAPPENED

REVEALED: More than 80 per cent of a Republican tax provision hidden in the coronavirus relief act will go directly to millionaires and billionaires - as it is branded a 'rotten, un-American giveaway'

Nearly 82 percent of a Republican tax provision hidden away in the coronavirus relief fund will go to the nation's millionaires and billionaires.

Analysis by the Joint Committee on Taxation (JCT) discovered the tax suspension overwhelmingly benefits high earners.

JCT determined that only less than three percent of the benefits will go to Americans earning less than $100,000 per year.

Comparatively, 82 percent of the benefits of the provision will be received by those who earn $1 million or more annually.

Suspending the limitation is set to cost taxpayers $90 billion this year alone.

The investigation was prompted after reports surfaced that Trump, Jared Kushner, and others in his inner circle could also be key beneficiaries.

'This analysis shows that while Democrats fought for unemployment insurance and small business relief, a top priority of President Trump and his allies in Congress was another massive tax cut for the wealthy,' said Sen. Sheldon Whitehouse, who prompted the probe, after the report was published Tuesday.

'Congress should repeal this rotten, un-American giveaway and use the revenue to help workers battling through this crisis.'

Acknowledging the overwhelming financial and health complications the ongoing novel coronavirus pandemic is posing to working class families in particular, Whitehouse added that 'it's a scandal for Republicans to loot American taxpayers in the midst of an economic and human tragedy.'

Webmaster's Commentary: 

Feigned "righteous indignation" is always easy for a party out of power.

But please understand; were the Democrats in power in terms of cobbling this "Frankenbill" together, the outcome would have been precisely the same for their cronies, and that's the problem.

People in power are always, always going to attempt to create legislation in this country which benefits themselves, and their monied friends; that's just the way it works here, as it does in many other countries around the world.

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