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Secret IRS Files Reveal How Much the Ultrawealthy Gained by Shaping Trump's "Big Beautiful Tax Cut"

edited August 2021 in Off-Topic
Why am I not surprised they shaped so many aspects of his tax plan:
Now this is what the rich call a return on investment, a tax ten bagger in one year for campaign contributions:
Confidential tax records, however, reveal that Johnson’s last-minute maneuver benefited two families more than almost any others in the country — both worth billions and both among the senator’s biggest donors.

Dick and Liz Uihlein of packaging giant Uline, along with roofing magnate Diane Hendricks, together had contributed around $20 million to groups backing Johnson’s 2016 reelection campaign.

The expanded tax break Johnson muscled through netted them $215 million in deductions in 2018 alone, drastically reducing the income they owed taxes on. At that rate, the cut could deliver more than half a billion in tax savings for Hendricks and the Uihleins over its eight-year life.


  • And, when they spend that money on things enabling candidates in the next election, it is found money; found in the American public's tax revenue and, ultimately, the United State's debt obligations. Unlike water, money flows uphill and, seemingly, evaporates.
  • edited August 2021
    Haven't read the article yet, but it looks like some major donors profited bigly!
  • vomit. Makes my blood boil.
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