Ultra-rich benefit from big tax cut hidden in coronavirus stimulus law
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By Mark Gruenberg

WASHINGTON-Oink.

That's the sound the ultra-rich-especially real estate moguls-made as they slurp from the taxpayers' trough, courtesy of a multi-billion dollar tax break or two their GOP handmaidens slipped into the $2.2 trillion economic stimulus law Congress passed on March 18.

The congressional Joint Committee on Taxation blew the formal whistle on that tax cut, which is worth $80 billion this year and another $6.7 billion in the next, in an April 15 report.

The JCT analysis, which was not released until after the stimulus law passed, shows 81.8% of the tax break will go to 43 taxpayers who each declared more than $1 million in earnings last year

Those are the taxpayers who own private corporations and carry over private "net operating losses." The tax cut would equal all the losses, not just 80%, and...

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