Posts Tagged ‘let them eat cake’

Congressional COVID-19 Relief Bill Revives 3-Martini Lunch

December 21, 2020

Congressional COVID-19 Relief Bill Revives 3-Martini Lunch

Lame-duck President and high-ticket eatery owner Donald Trump has called for restoring the 100% federal tax deduction on “3-Martini Lunch” business meals to aid the pandemic-pummeled restaurant industry, an action economists call completely ineffective. Nevertheless, in their eleventh-hour effort to pass another COVID-19 relief bill the ritzy-restaurant-running president will sign, the GOP put the 3-Martini Lunch on the menu, and democrats will just have to hold their noses and choke it down if they want coronavirus relief funding before the Christmas recess.

More:

“White House secures ‘three martini lunch’ tax deduction in draft of coronavirus relief package,” Jeff Stein, Washington Post

“Restoring The Three Martini Lunch Tax Deduction Won’t Feed The COVID-19 Economy,” Howard Gleckman, Tax Policy Center

“‘It’s unconscionable’: Outrage over the ‘three-martini lunch’ tax deduction in the new coronavirus aid deal,” Nicole Lyn Pesce, MarketWatch

“‘Three martini lunch’ tax break may not save many restaurants, advisors say,” Darla Mercado,. CNBC

“On ‘three-martini-lunch’ policy, Republicans get what they wanted,” Steve Benen, MSNBC

“‘Three-martini lunch’ tax break draws outrage. It also may fall short for restaurants.” Aimee Picchi, CBS News

“When Will Eating the Rich Also Be a Tax Deduction?” Esther Wang, Jezebel

Related:

“Dictionary.com weighs in as #LetThemEatCake trends over relief bill,” Justine Coleman, The Hill

___________________
Short Link: https://wp.me/p6sb6-wkp

Image (“Bacchus at Cocktail Hour, after Carvaggio”) by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

Wilbur Ross Explains It All To You

January 25, 2019

Wilbur Ross Explains It All To You

Commerce Secretary and grifter Wilbur Ross (net worth: $440 million — or maybe $2.9 billion) expressed puzzlement over why unpaid federal workers need to go to food banks during the Trump government shutdown when they could get loans. Perhaps they can use their art collections as collateral. It’s true that the Commerce Department Credit Union offers loans to unpaid federal employees — at nearly 9 percent interest. What GS-4 wouldn’t jump at that?

(more…)