Thad
04-17-2020, 09:50 AM
In early May, after weeks of delay prompted by the pandemic, the US Supreme Court will hear oral arguments in three highly-anticipated cases about president Donald Trump’s financial records (https://qz.com/1825023/activists-demand-scotus-hear-trump-tax-case-despite-coronavirus/). One of those matters involve a subpoena for Trump’s taxes.
The case is important. Trump, unlike any president in recent history, has refused to disclose his finances, obscuring potential conflict of interests between his government and his personal business. But the issue has now taken on a whole new urgency because the $2.2 trillion CARES Act passed by Congress last month contains deep within its 800 pages two barely-noticeable tax clauses that only benefit rich Americans, perhaps including the president.
The new tax clauses will cost Americans about $195 billion (https://www.whitehouse.senate.gov/news/release/whitehouse-doggett-press-trump-administration-on-massive-tax-giveaways-slipped-into-covid-relief-bill) over 10 years. They suspend previously-placed limits on tax offsets and apply retroactively, meaning millionaires will make a killing based on past circumstances while millions of Americans lose their jobs and struggle to survive the economic effects of the coronavirus crisis. This, despite the fact that, officially, the businesses of Trump and others in government cannot benefit from the stimulus package.
In other words, politicians apparently found a workaround for the protections meant to shield the people from government corruption.
https://www.yahoo.com/news/m/1694ed59-b57b-308e-8087-6000bc8c7e12/supreme-court-case-on-trump%E2%80%99s.html
The case is important. Trump, unlike any president in recent history, has refused to disclose his finances, obscuring potential conflict of interests between his government and his personal business. But the issue has now taken on a whole new urgency because the $2.2 trillion CARES Act passed by Congress last month contains deep within its 800 pages two barely-noticeable tax clauses that only benefit rich Americans, perhaps including the president.
The new tax clauses will cost Americans about $195 billion (https://www.whitehouse.senate.gov/news/release/whitehouse-doggett-press-trump-administration-on-massive-tax-giveaways-slipped-into-covid-relief-bill) over 10 years. They suspend previously-placed limits on tax offsets and apply retroactively, meaning millionaires will make a killing based on past circumstances while millions of Americans lose their jobs and struggle to survive the economic effects of the coronavirus crisis. This, despite the fact that, officially, the businesses of Trump and others in government cannot benefit from the stimulus package.
In other words, politicians apparently found a workaround for the protections meant to shield the people from government corruption.
https://www.yahoo.com/news/m/1694ed59-b57b-308e-8087-6000bc8c7e12/supreme-court-case-on-trump%E2%80%99s.html