Trump's tax bill helps the rich, hurts the poor and adds thousands of billions to the deficit

The eyeshadow is out of the rose, or rather, the orange. The old “First boyfriend»And the Hawk Elon Musk born again recently said He was “disappointed” by Donald Trump's expense budget currently under debate in the American Senate. Climbing through the House of Representatives thanks to the capitulation of several republican hard liners, this “Large and beautiful bill“Certainly increases federal debt greatly-by Nearly 4 dollars billions During the next decade.

Just as disappointed are those who have been busy sunbathing Trump's populist veneer. Steve Bannon had repeatedly Higher taxes for millionaires, but He confessed That he is “very upset”. Indeed, the bill would reduce taxes of more than $ 600 billion for the higher 1% of employees, also called millionaires. This is equivalent to the largest transfer to the rise in wealth in American history.

However, this double betrayal will do nothing to hinder the breath support of various devices from Maga to their dear leader. Musque has already tweeted his gratitude to the President for the opportunity to direct Doge (that is to say, Bar financing for cancer research). Thus, this bill has once again proven the will of the Republicans to give up their convictions as long as they can keep their reach on power. And for Trump, he reaffirmed that his Promised golden age is really just a boon for the rich über like him. Now he cannot be mistaken that the governing philosophy of the Republicans is neither conservatism nor populism but shamelessness hypocrisy.

Wait for the self -proclaimed Debt king To balance the budget – or hope that workers would be protected by the billionaire whose personal currency is “You are fired– has always been imaginative to thought. In his first mandate, Trump added 8 dollars to the national deficit. Even excluding cocovid aid expenses, it is twice as much debt While Joe Biden accumulated for his four years in the White House. Nearly $ 2 billions of this tab came from Trump's praised tax reduction, which delivered Three times more wealth In the higher 5% of employees than 60% lower. Its advantages have also failed, the remaining income for workers who earn less than $ 114,000.

Trump's dishonesty on the deficit pursues a sacred republican tradition. The four republican presidents since 1980 have increased Federal debt. By combining reckless militarism with rampant corporatism, George W Bush managed to Balloon of 1 204%. When the secretary of the Treasury of Bush, Paul O'Neill, said he was concerned about expenses, Dick Cheney, the then Vice President, would have declared retorted: “Deficits do not matter.”

Except, of course, when a democrat occupies the oval office. During his campaign for the American Senate in 2022, JD Vance derived The infrastructure package of $ 1 billion of Biden is a “huge error” that would waste money on “really crazy things”. Like improving almost 200,000 miles of roads And repair more than 11,000 bridges across the country.

Now he cannot be mistaken that the governing philosophy of the Republicans is neither conservatism nor populism but shamelessness hypocrisy.

Apparently, less crazy, but certainly more insensitive, are the vertiginous cuts of the social security net proposed in the current budget bill of Trump. It is 1 Billion Evisceration From Medicaid and Snap would leave 8 million Americans not insured and would end food aid for 11 million people, including 4 million children. When the Democratic representative Ro Khanna Introduce an amendment To maintain the coverage of the 38 million children who receive their health care through Medicaid, the Republicans prevented it from receiving a vote.

But for all the austerity of the budget, he too Provides $ 20 billion in tax credits to establish a national school of good schools. And just as scandalous are his dispositions which have nothing to do with the pecuniary, of Flash regulations On the firearm silencer for The hamstrings of the power of the courts To apply injunctions.

Perhaps the most breathtaking of everyone, however, is the way in which the bill enriches the mega-riche. During its first year, its tax relief will decorate the Americans in the 0.1% higher of the income tranche with $ 400,000 additionalWhile reducing the benefits of people in the lowest 25% by $ 1,000. In other words, those who can the least allow themselves to be relieved for those who need it the least.