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

LewisBraham

Why am I not surprised they shaped so many aspects of his tax plan: https://propublica.org/article/secret-irs-files-reveal-how-much-the-ultrawealthy-gained-by-shaping-trumps-big-beautiful-tax-cut?utm_source=sailthru&utm_medium=email&utm_campaign=dailynewsletter&utm_content=feature
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.

Anna

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.

Observant1

Haven't read the article yet, but it looks like some major donors profited bigly!

Crash

vomit. Makes my blood boil.