CARES Act

GOP Tax Cuts in Coronavirus Relief Bill Give 82% of Benefits to Millionaires and Billionaires

Hidden away in the Coronavirus Aid, Relief, and Economic Security (CARES) Act is a series of Republican tax cuts that will save the ultra-wealthy $90 billion in 2020 alone. According to a report from the Joint Committee on Taxation (JCT), a nonpartisan congressional body, almost 82 percent of the benefits of the tax breaks will go to just 43,000 Americans who make over $1 million annually.

The NY Fed, Owned by Banks, Is Bailing Out all Failing Businesses – Including the Banks

In principle, everything being done now has been done before but on a smaller scale. The limitless scope of the new program is new, but the Fed remains in complete control at every step - including control over Congress and the White House. As usual, this latest maneuver is of the banks, by the banks, and for the banks.