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January 21, 2022

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Billionaires Rake In Stimulus Money, Manipulating System

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Billionaires early manipulated the system and raked in stimulus money. John Iadarola and Dan Evans break it down on The Damage Report.

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Read more here: https://www.propublica.org/article/these-billionaires-received-taxpayer-funded-stimulus-checks-during-the-pandemic?utm_source=pocket_mylist

"In March 2020, as the first wave of coronavirus infections all but shut down the U.S. economy, Congress responded with rare speed, passing a $2.2 trillion relief package called the CARES Act. The centerpiece of the law was an emergency payment to over 150 million American households that needed help.

Congress used a simple filter to determine who was eligible for assistance: The full $1,200 was limited to single taxpayers who’d reported $75,000 a year or less in income on their previous tax return. Married couples got $2,400 if they had reported less than $150,000 in income. Money was sent automatically to those who qualified."

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