<story><title>Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7M</title><url>https://www.forbes.com/sites/shaharziv/2020/04/14/why-are-rich-americans-getting-17-million-stimulus-checks/#1025269e665b</url></story><parent_chain></parent_chain><comment><author>lend000</author><text>If I am understanding this correctly, there is no money flowing to rich Americans, but they will have additional opportunities to deduct losses on their 2020 taxes (basically paying less in taxes after a major stock market rout) that would normally need to be spread over future tax returns indefinitely.&lt;p&gt;However, this will only occur if they took losses, so it is really a discount of ~35% on negative income. This would also apply to someone who is not rich, i.e. a software dev sole proprietor who cashed out big losses in March in the stock market and then applied those losses against their normal income to end up reporting 64k in income instead of 100k (normally 36k in losses would have to be stretched over 12 years of tax returns).&lt;p&gt;I understand this doesn&amp;#x27;t fit the narrative, but please comment if it is incorrect instead of downvoting.</text></comment>
<story><title>Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7M</title><url>https://www.forbes.com/sites/shaharziv/2020/04/14/why-are-rich-americans-getting-17-million-stimulus-checks/#1025269e665b</url></story><parent_chain></parent_chain><comment><author>mywittyname</author><text>&amp;gt;because of additional language that applies the policy retroactively “so losses in 2018 and 2019 can be ‘carried back’ against the past five years.”&lt;p&gt;Damn, must be nice.</text></comment>