Trump's Big Beautiful Bill For Billionaires Final Tally

 

Policies comforting the comfortable, and afflicting the afflicted have never been more stark than they are under this increasingly fascist- oligarch regime and its rotted out Republican party/ cult:

President Donald Trump’s tax and spending law will deal a financial blow to the poorest Americans while boosting the income of wealthier households, according to a new analysis from the Congressional Budget Office.

The poorest 10% of households will lose an average of about $1,200 in resources per year, amounting to a 3.1% cut in their income, according to the analysis released Monday of the “One Big Beautiful Bill Act.” Households in the highest 10% of incomes will see about a $13,600 boost in resources on average, amounting to a 2.7% increase in their incomes.

Earners in the middle of the distribution will see their annual resources grow by about $800 to $1,200 on average, according to the analysis.

The hit to poorer families will largely result from the loss of benefits from social spending programs, while much of the benefit to the wealthy will come from tax benefits and cash transfers, according to the CBO.

Trump and his allies have in recent weeks blasted independent agencies for releasing numbers with which the administration disagrees. The nonpartisan CBO, led by Phillip Swagel — who served in Republican President George W. Bush’s administration — has repeatedly come under fire over its growth forecasts.

The tax and spending bill, enacted last month, includes much of Trump’s economic agenda. It extends his 2017 income tax cuts while implementing a number of new and expanded breaks, including a higher cap on federal deductions for state and local taxes, an enhanced child tax credit and no taxes on tips and overtime pay. To offset some of the cost, the law includes a number of cuts for clean energy initiatives and social spending programs, including Medicaid and food stamps...

With the Trump Tariff Tax beginning to ripple through the economy, those extremely modest "boosts" to middle income earners will disappear after a half dozen shopping trips.  People all over the country, and increasingly in red states, are realizing what Trump's oligarch- friendly policies mean to their families, small businesses, farms, health care, and retirement.  That's why you're seeing those rare House Republican town halls erupting in anger over the Trump tax and tariff policies (and ICE abuses) that Republicans voted for or to which they're acquiescing.

Here's what the headlines are reporting on this reverse Robin Hood act, and why the public's anger is going to grow:

Bloomberg

Trump Tax Law Squeezes Poor, Boosts Income For Wealthy, CBO Says

Associated Press

Trump's Tax Law Will Mostly Benefit The Rich, While Leaving Poorer Americans With Less, CBO Says

Reuters

10 Million Americans Will Go Uninsured Due To Trump Tax And Spend Law, CBO Says

CNN

2.4 Million People Expected To Lose Food Stamps After Trump Agenda Law Broadened Work Requirements, CBO Says

USA Today

Millions Will Lose Medicaid Under Trump's Tax Law.  Here's The Final Tally.

 

This is the party that has risibly labeled itself the party of the working class.  We suggest watching what they do, not what they say for the best measure of that.   

(Photo illustration:  Trump the Golden Calf / Thomas Levinson, Daily Beast/ Getty)