Who gets tax cuts in the Big Beautiful Bill? See tax brackets Extending the tax cuts under the Big Beautiful Bill “would cut 2026 taxes by about $2,900,” according to an analysis by the Tax Policy Center of the Senate version of the bill on June 30. The tax cuts would be larger for higher income households, and nearly 60% of the total cuts would go to those with annual incomes of about $217,000 or more, the center said. Under the Senate’s bill, high earning households making between $460,00 and $1.1 million would benefit the most with an average tax cut of $21,000, raising their after-tax incomes by 4.4%. The lowest-income households would benefit the least with an average tax cut of just $150, raising their income by 0.8%.
What is the highest? These tariffs have not effected me in any kind of way. And you want to defect today's targeted RECIPROCAL TARIFFS with something that happened in the 1930s? Lol... that's RICH... fallacy. The only thing that is WRONG with our economy is the crazy high interest rates. Political Powell is trying to crash our economy and Trump needs to do everything in his power to remove that Saboteur from the Fed.
Were you asking why he didn't lower rates more last year? The rates went up at some times 1% each time they met. Then when the jobs numbers went down some, he lowered them 1/4 of a point. THAT was frustrating. trump crying and lying that the dems fudged the job numbers. Why? So Powell could NOT lower the interest rates??
A lot of companies filled their stocks to the brim before tariffs could come to keep prices down, so to now the impact has been minimal. But here’s what to expect as they settle in. I could post a dozen individual stories of companies saying now they are going to have to raise prices,min clueing large ones like Johnson and Johnson, Ford etc, but it will fall on deaf ears until it hits their pocket books.
Tell us what you thought about the AMERICAN taxes that were set to increase and how every single Democrat in Congress voted to RAISE TAXES... You did NOT care about taxes when the BBB was passed, now all of a sudden you care about tariffs that are NOT really taxes? Lol... don't buy Chinese made goods and your "taxes" will NOT go up!
So if I got a tax refund of $5000 and then buy something for $6000 that doesn’t mean my refund was only $1000.
Ummm...no? No clue what math you are performing here. Let me help you: 1. You get a $2,000 tax cut. 2. Producers, importers, and retailers pass on $2,500 in taxes charged to them to you via pricing. Your taxes were increased by $500.
Not even trying to be mean, I have zero idea what you are taking about. I don’t think I ever said taxes should go up, and saying that a larger monstrosity of a bill has to pass to protect one small piece is kind of an odd flex. If that piece is important pass it on its own, or pass it as part of a bill that actually makes some semblance of sense so that it garnered more support. This bill is now entirely on the shoulders of republicans, and in 2026 when medical benefits start getting cut, when the deficit blows out and leads to higher inflation that largely wipes out those tax cuts, and the domestic cuts lead to fewer services, it’s theirs to answer to. And the last sentence…People are buying Chinese goods because they are cheaper. If the foreign goods leave the market, or tariffs raise their prices, or you just decide to buy American instead, you are paying more. It’s a hit to your pocketbook either way. There really isn’t a way to get around it. There isn’t a sane economist in the world who will tell you protectionist policies are good for developed economies. But here we are anyway.
I get a tax cut of $2000. Producers increase the cost of goods by $2500. I still have a $2000 tax cut. And I made $2500 in purchases. And if I don’t want to pay for the price increase of those goods I can chose to buy less expensive goods which would cost me less than $2500. Either way, I still have my $2000 tax cut.
From what was reported on The Today Show this morning, some U.S. businesses have absorbed the first round of tariffs, but it's looking more likely that these will be passed on to consumers by October.
The net result is due to tax laws enacted, you are $500 worse off in this scenario. If you want to stick to the intellectually dishonest claim that you got a $2000 tax cut without acknowledging that you're also indirectly paying $2500 more in taxes that's up to you. But everyone sees it for what it is.
You are still $500 worse off in that scenario, and that $500 was due to govt taxing goods $2500 more vs $2000 income tax savings. Weird hill to die on. Based on auto prices alone this “only” $2500 might prove optimistic.
The less expensive ones are likely the ones that were tariffed, that’s largely the reason tariffs were implemented. But if you are ok with a Hyundai instead of a BMW to ultimately break even, or you no longer buy nice extras you used to be able to manage within your budget, or turn to store brands instead of name brands to save the difference, have at it. The point is that your lifestyle is affected in some form if those numbers hold.
It's crazy how folks will throw away any credibility they might have had just to refuse to concede an obvious point.
I could see someone saying “I’m saving $50,000 in taxes suckaz”, at least that would be intellectually honest. But to set up a hypothetical where he is a net $500 worse off and still trying to frame that as a tax cut lol. That is… something.
No, but if govt cut your income taxes $5000 but then increased taxes on the goods you purchase by $6000, it means govt effectively raised your taxes by $1000.
