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Saturday, May 28, 2022

Stimulus Check Update: Several Billionaires Have Received The Relief Payments

In what can only be considered as a gross miscarriage of justice, close to 270 wealthy Americans who wrote off enough tax deductions, actually received the stimulus check payments. They apparently ended up qualifying for the third stimulus payment which had a budget of $5.7 billion, as reported by their previous tax returns.

Each of the 270 Americans appeared to have cut down on their tax responsibilities in order to claim to have accrued a negative net income which allowed them to be eligible for the $1,200 single, and the $2,400 married couple extra support. 

Billionaires Have Received The Stimulus Check Payment

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These rich taxpayers received the stimulus check payment after they ended up tapping complete tax deductions in order to reduce their net incomes to under zero, thereby qualifying for the checks, as reports stated. 

The report from ProPublica does highlight some of the biggest names that ended up pocketing the stimulus check payments. Among them is George Soros, whose investment losses had him reportedly paying no income tax between 2016 and 2018- who also has a net worth of $7.5 billion.

Another billionaire to receive the payment was Junk bond billionaire Ira Rennert, who has a net worth of $3.7 billion. Rennert actually earned close to $64 million in income in 2018 and ended up with $355 million in deductions- which put the income at a negative $291 million. 

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As stated by most media channels, any attempt to establish a conversation between these people regarding the stimulus check payments was not immediately returned. Interestingly, a spokesperson for Soros later stated that George had returned the payment he had received. 

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