Rich Americans are not eligible for the $1,200 stimulus check from the government as part of the CARES Act, but a provision that was slipped in regarding tax codes will benefit the wealthy by nearly $2 million a person, more than the total funding that was given to hospitals and more than the total funding provided to state and local governments. The provision is aimed to undo a limitation in tax codes set forth in 2017 that “temporarily suspends a limitation on how much owners of businesses formed as “pass-through” entities can deduct against their non-business income, such as capital gains,... Read More