Julio Gonzalez, renowned tax and accounting expert, breaks down everything you need to know about the $1.9 trillion Biden Stimulus Package and how it is being used to redistribute wealth while increasing the deficit.
WEST PALM BEACH, Fla., March 11, 2021 /PRNewswire/ -- Julio Gonzalez, CEO of Engineered Tax Services and member of the Forbes Council, has reviewed the Biden COVID Stimulus legislation, cutting through the complicated language to inform taxpayers about how to benefit from the stimulus package with a stern warning on how it puts us on the path towards radical wealth redistribution.
"From rebates to tax credits, there is a lot to unpack. The employee retention credit has been extended, along with the family and sick leave credits. There is so much more in this bill that many Americans do not yet know about, or how to best utilize," explained Gonzalez.
Many know that a $1,400 stimulus check will be sent out to millions of Americans, but the bill also extends the $300 a week unemployment benefits through September 2021. Originally this was only until another stimulus package was to be considered. Gonzalez also noted that the payments will now go to undocumented spouses and even prisoners.
Gonzalez continued, "The fact that we are seeing so much money going towards pension funds, that are grossly mismanaged is outrageous. There is no oversight mechanism in place, this is a windfall for bad actors with a history of financial impropriety. On a good note, $25 Billion will go towards small business relief, however that money will need to be paid back to the federal government, which poses a whole other set of problems.
"This is simply the 'we will buy your vote by redistributing the wealth of the taxpayers that don't vote for us.' And now that we are increasing the deficit, we will come back in October when the new fiscal year starts and use reconciliation to increase taxes on the rich and create the country's first wealth tax to pay it back…that is the plan," concluded Gonzalez.
Gonzalez will be joining Karyn Turk's "Behind The Headlines" I-Heart radio show and podcast on WJNO 1290AM this Saturday at 3PM to give an in-depth look at the new stimulus bill, during his weekly "Death and Taxes" segment.
You can listen live to his segment on WJNO 1290AM or catch the report by heading to the show archives.
Media Contact: Kristin Davis
News Provided by: Julio Gonzalez, Engineered Tax Services
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SOURCE Julio Gonzalez