#NNPA BlackPress

While Struggling Americans Await $1,200 Stimulus, Nation’s Wealthiest Reap Windfall

NNPA NEWSWIRE — The $2.3 trillion coronavirus stimulus package includes a temporary tax change for individuals who make at least $1 million a year, according to the Joint Committee on Taxation. The Joint Committee’s analysis shows 43,000 taxpayers in the highest income bracket, making more than $1 million a year, could save a combined $70 billion in taxes. Almost all benefits from the tax break go to people making more than $100,000 a year.

Published

5 years ago

April 19, 2020

Oakland Post

Millionaires and billionaires are set to reap more than 80 percent of the benefits because of the Trump tax law change, which alters what certain business owners are allowed to deduct from their taxes. (Photo: iStockphoto / NNPA)

By Stacy M. Brown, NNPA Newswire Senior Correspondent
@StacyBrownMedia

While struggling individuals and families look forward to a $1,200 federal stimulus check, America’s wealthy have again made off with most of the cash.

The $2.3 trillion coronavirus stimulus package includes a temporary tax change for individuals who make at least $1 million a year, according to the Joint Committee on Taxation. The Joint Committee’s analysis shows 43,000 taxpayers in the highest income bracket, making more than $1 million a year, could save a combined $70 billion in taxes. Almost all benefits from the tax break go to people making more than $100,000 a year.

The change in tax law reportedly suspends limits on how much money individuals can deduct against how much they owe based on lost income or business revenue, according to the committee.

Still, millionaires and billionaires are set to reap more than 80 percent of the benefits because of the Trump tax law change, which alters what certain business owners are allowed to deduct from their taxes.

It allows many of the country’s wealthiest to avoid nearly $82 billion of tax liability in 2020.

Nearly 82 percent of the benefits from the tax law change will go to people making $1 million or more annually in 2020, according to the Joint Committee.

Approximately 95 percent of those who benefit from the change make $200,000 or more.

The government began sending out $1,200 stimulus payments to individuals making less than $75,000, and $2,400 for couples earning no more than $150,000.

An additional $500 per child under 18 was provided to families while those high school and college students over the age of 17 were left entirely out.

In all, taxpayers will lose nearly $90 billion from the change to the law, which suspends a restriction introduced in President Trump’s 2017 tax bill.

The change allows owners of businesses known as pass-through entities to lower their taxes by deducting as much as they want against income unrelated to the company.

“It’s a scandal for Republicans to loot American taxpayers amid an economic and human tragedy,” Rhode Island Democratic Sen. Sheldon Whitehouse noted in a statement.

“This analysis shows that while Democrats fought for unemployment insurance and small business relief, a top priority of President Trump and his allies in Congress was another massive tax cut for the wealthy.”

Whitehouse and Rep. Lloyd Doggett (D-Texas) sent a letter expressing their concerns to Vice President Mike Pence, Treasury Secretary Steve Mnuchin, and Acting Director of the Office of Management and Budget, Russell Vought.

“We are specifically seeking information about whether any people in the Trump administration who were involved with developing the changes would also benefit from the provisions.”

Several published reports said both Trump and his son-in-law Jared Kushner stand to reap millions as a result of the stimulus package and the change in tax law.

So that Congress and the American public can better understand the provenance of these tax law changes, and assess whether any individuals within the Administration who stand to gain from these provisions were involved in their development, Whitehouse and Doggett have requested that Pence, and Vought provide the following information:

All communications from January 1, 2020, to the present between the White House, Department of Treasury, or the Office of Management and Budget and any nongovernment person or entity related to sections 2303 or 2304, or the policies modified by those sections.
All communications between the Department of Treasury and the White House, and between the Department of Treasury and the Office of Management and Budget, related to sections 2303 or 2304, or the policies modified by those sections, in the development of the Coronavirus Aid, Relief, and Economic Security Act.
All studies, analyses, proposals, cost estimates, or other information considered by the White House, the Department of Treasury, or the Office of Management and Budget related to sections 2303 or 2304, or the policies modified by those sections, in the development of the Coronavirus Aid, Relief, and Economic Security Act.

“It’s a scandal for Republicans to loot American taxpayers in the midst of an economic and human tragedy,” Whitehouse noted in his statement. “Congress should repeal this rotten, un-American giveaway and use the revenue to help workers battling through this crisis.”

Doggett added that the cost of the tax break is more than total new funding for all hospitals in America and more than the total provided to all state and local governments.

“Someone wrongly seized on this health emergency to reward ultrarich beneficiaries, likely including the Trump family, with a tax loophole not available to middle class families. This net operating loss loophole is a loser that should be repealed,” Doggett said.

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#NNPA BlackPress

OP-ED: The Illusion of Allyship. White Women, Your Yard Signs Mean Nothing to Me

NNPA NEWSWIRE – “The blue bracelets are something White women are wearing so others can see that they didn’t vote for Trump,” says Liberal Lisa from Oklahoma on X. Chile, bye. These bracelets are hollow symbols, empty gestures that mean nothing to me. An accessory to claim distance from Trump’s legacy is superficial comfort, while the choice to not stand with us in the voting booth is far more profound.

Published

2 weeks ago

November 9, 2024

Oakland Post

Political yard signs can symbolize intentions and allegiance. But this year, they’ve also symbolized betrayal. During this general election, Black women were led to believe that more White women would stand with us. Exit polls, however, told a different story. Despite overwhelming displays of support, more White women still chose to vote for the convicted felon, reality TV star, and rapist. White women answered the call but left us hanging at the polls.

A Familiar Disappointment

I live in DeKalb County, Georgia, and the abundance of Harris-Walz yard signs could’ve fooled me. But I’ve seen this before, back when Stacey Abrams ran for governor. White women showed up, put up signs, attended rallies, knocked on doors, and phone-banked. Yet, when it came time to vote, they let us down—not once but twice. I’ve been here for over 15 years, and if there’s one thing I know, it’s that political signs are symbols without weight.

In every election, I’ve talked with White women. Most aren’t the primary earners in their families and vote along party lines, aligning with the preferences of their fathers and husbands. These conversations reveal a reluctance to break from tradition, even when their votes affect women and certainly when their votes impact the lives of people who look like me.

The Illusion of Solidarity—Symbols Are Not Enough

On social media, I’m seeing White women posting pictures of blue bracelets to “prove” they didn’t vote for Trump. “The blue bracelets are something White women are wearing so others can see that they didn’t vote for Trump,” says Liberal Lisa from Oklahoma on X. Chile, bye. These bracelets are hollow symbols, empty gestures that mean nothing to me. An accessory to claim distance from Trump’s legacy is superficial comfort, while the choice to not stand with us in the voting booth is far more profound.

I’ve seen Black Lives Matter signs and black squares posted on Instagram to “prove” support for Black people, but we now know that was a lie, too. Will those same people who claimed Black lives mattered now take down their Harris-Walz signs and show their true selves?

Navigating these truths is a daily struggle for me—professionally and socially. White women often misuse their privilege, supporting us only when it’s convenient. Seeing overqualified Black women sabotaged or abandoned by White women at critical moments is a constant emotional challenge. It’s exhausting to live with this reality, especially when solidarity seems like something they pick up and discard at will.

One clever campaign ad from Harris-Walz that spoke directly to White women. “Your Vote, Your Choice” emphasized that their vote was private—independent of their household situation. Another was from Olivia Howell Dreizen, the “Vote Without Fear” campaign, which empowered women to consider the greater impact of their choices. But it seems many still couldn’t choose the roadmap to freedom—even when it was handed to them.

A Call for Action Beyond Words

White women, I want to believe you care, but actions speak louder than yard signs, bracelets, or Instagram posts. Show up in our communities, advocate in your workplaces, and stand up to dismantle the structures that uphold white supremacy. Only through real action will we know where you stand.

If you choose not to act, we see you—and we know exactly where you stand. Good luck these next four years.

Disclaimer: The views and opinions expressed in this article do not necessarily reflect the official policy or position of BlackPressUSA.com or the National Newspaper Publishers Association.

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Supernova Parenting Conference Empowers Over 100 Parents with Resources for Neurodivergence and Mental Health

The inaugural Supernova Parenting Conference was co-hosted by Natasha Nelson, known as Supernova Momma, and Yolanda Walker, founder of Parenting Decolonized. It brought together over 100 parents, caregivers, and educators dedicated to fostering understanding and support for neurodivergent children and mental health challenges. The conference provided invaluable resources, expert insights, and a collaborative space for […]

Published

2 weeks ago

November 7, 2024

BlackPressUSA.com

The event featured a variety of workshops, panel discussions, and keynote speeches from leading experts in neurodiversity and mental health. Attendees left with practical tools and strategies to enhance their parenting journeys, emphasizing the importance of understanding and supporting the unique needs of neurodivergent children.

“While the conference was a tremendous success, we believe that our work doesn’t end here,” said Natasha Nelson. “It’s crucial to continue providing ongoing support and resources for parents as they navigate this important journey. We want to ensure families can access the tools they need long after the conference.”

To extend the momentum generated at the conference, Natasha and Yolanda are excited to announce the launch of the Supernova Parenting Community. This membership-based initiative aims to offer a safe and supportive environment for parents and caregivers to continue their growth as conscious parents.

Membership is available for as little as $5 a month via Patreon, making it accessible for all families seeking support.

“We know that parenting can be a challenging journey, especially when navigating neurodivergence and mental health issues,” Yolanda Walker added. “Our goal is to build a community where parents feel seen, heard, and supported. We hope you’ll join us in this vital work.”

For more information about the Supernova Parenting Community and to sign up for membership, please visit supernovaparenting.org