Trump’s ‘big, beautiful bill’ will lead to Medicare cuts: CBO

What does the stock market and bond market think?

 

Just because you haven't chosen to learn more about this tax plan scheme beyond the Trumppublican gaslighting doesn't mean that everyone else has joined you in that.

It's a classic bait-and-switch; Trump will offer the less fortunate temporary tax cuts in exchange for permanent ones for the rich.

I highly doubt this will be the case, but if you'd like to know more;


As currently written, the bill is expected to add an outsize $3.4tn to the deficit through 2034, much of which is due to the permanent extension of tax cuts Trump signed in 2017. It would also allow taxpayers to write off overtime, tips and the interest paid on loans for cars assembled in the US, in line with Trump’s campaign promises.

But once the year 2028 ends, so too do these deductions, as well as the government’s deposits into any Trump accounts and the increased child tax credit. By that time, poor Americans will have begun navigating funding cuts and new requirements imposed on two of the government’s biggest anti-poverty programs.

In 2027, new work requirements for some recipients of Medicaid, the healthcare program for poor and disabled Americans, would go into effect. The Urban Institute thinktank, based on an analysis of a similar policy, believes those would cost as many as 5.2 million people their health insurance coverage, largely because of enrollees not understanding the requirement or being unable to prove their compliance.

People who depend on the Supplemental Nutrition Assistance Program (Snap), which helps pay for groceries and other essentials, would also face work requirements beginning in October 2027.

Despite the new deductions, the nonpartisan Congressional Budget Office (CBO) estimated that the wealthy will benefit most from the bill. Taxpayers with the highest incomes will see their household resources increase by four percent in 2027 and two percent in 2033, largely due to the extended tax cuts. The poorest tax payers would see their resources drop by four percent in 2033, largely due to the downsized benefit programs, the CBO forecast.

The new Trump-led tax bill promises an American ‘golden age’ – that conveniently ends with his presidency

 

Well, it seems you can say whatever you want. You can't say things that are untrue though, without the possibility that someone will present facts and call you out.

In fact, I think I'll do that right now. You know about the CBO, don't you?

Despite the new deductions, the nonpartisan Congressional Budget Office (CBO) estimated that the wealthy will benefit most from the bill. Taxpayers with the highest incomes will see their household resources increase by four percent in 2027 and two percent in 2033, largely due to the extended tax cuts. The poorest tax payers would see their resources drop by four percent in 2033, largely due to the downsized benefit programs, the CBO forecast.

 

It's likely to cost Fl. an additional 1.5 Billion over the 15 billion currently spent. The House has told the states too bad. Those billionaires need more money.

 

Don't know and don't care. They have been nothing but blowhards for Trump's presidency to date. They swing with the wind, short termers itis.

 

Will Trump’s ‘big beautiful bill’ add to the deficit? Yes

 

From the Bill: “No court of the United States may use appropriated funds to enforce a contempt citation for failure to comply with an injunction or temporary restraining order if no security was given when the injunction or order was issued….”

Translated: No federal court may enforce a contempt citation?

This seems.... Problematic. Legal scholars have an opinion here?

 

But you were such a good prognosticator of what the market would do!

 

Does anyone think that "hard work" gets easier after 2+ Trillion deficit-adding tax cuts for the super rich?

 

They want their orange god above the law. Court orders are for other people.

 

"No court of the United States may use appropriated funds to enforce a contempt citation for failure to comply with an injunction or temporary restraining order if no security was given when the injunction or order was issued"

Might as well crown him and his admin

 

Wall Street is not a fan.

U.S. stocks closed sharply lower on Wednesday as Treasury yields spiked on worries that U.S. government debt would swell by trillions of dollars if Congress passes President Donald Trump's proposed tax-cut bill.

All three major Wall Street indexes closed with their biggest daily losses in a month. Small cap stocks also fell sharply, with the Russell 2000 index posting its biggest daily loss since April 10.
All three major Wall Street indexes closed with their biggest daily losses in a month. Small cap stocks also fell sharply, with the Russell 2000 index posting its biggest daily loss since April 10.​

 

So hear me out ... if you agree to become a rich guy's butler, you get to write off your tips now

 

A lot of trouble to get rid of a king just to end up with another.

 

+$3 Trillion added to our deficit. What a great day.

 

Of course. The rest of us are just subjects in their world. Ain't it great?