nongolfer
Male
Whoa, so the rich will be compensated too from the stimulus? I didn't know that though the money was supposed to be for the hard working Americans!
Over 43,000 US millionaires will get ‘stimulus’ averaging $1.6 million each
At least 43,000 American millionaires who are too rich to get coronavirus stimulus checks are getting a far bigger boost — averaging $1.6 million each, according to a congressional committee.nypost.com
Ha ha. Math much?
Table 1. Effective Tax Rate for Two Firms without a Net Operating Loss Deduction (21% Tax Rate)
| Year One Net Income | Year Two Net Income | Tax Liability for Year One | Tax Liability for Year Two | Combined Effective Tax Rate | |
|---|---|---|---|---|---|
| Firm One | ($50,000) | $100,000 | $0 | $21,000 | 42% |
| Firm Two | $25,000 | $25,000 | $5,250 | $5,250 | 21% |
| Source: Tax Foundation calculations |
