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GOP Proposes $4.5 Trillion Tax Giveaway to the Rich While 'Ransacking' Food Stamps and Medicaid
(www.commondreams.org)
These Republicans are worse than locusts.
this post was submitted on 13 Feb 2025
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Last I heard you could eat locust too
The title of this is a misleading simplification. $4.5 tn is not "Tax Giveaway to the Rich". It's a maximum cap on total tax cuts that could be in this budget. It is likely to include renewal of 2017 income tax cuts and increased child tax credit - both of these were popular and not just "for rich".
They may also raise SALT cap which benefits higher income people from states with high property taxes. Living in one myself, I can tell you that you don't need a mansion in a top school district to pay much more than $10k in property taxes. So this one is not just for billionaires for sure, but maybe from upper middle class.
There are promises Trump made to eliminate income taxes on tips and social security, which are obviously not beneficial only to rich. But I heard it would cost a lot, especially SS one. Not sure if $4.5tn is enough.
Unfortunately, it looks like proposed spending cuts to Medicaid and food stamps are favored by GOP and may be easy to pass, but they don't cover tax cuts by a big margin. So they can hurt people in need, and still have to balloon national debt even more.
My biggest frustration is not that Trump won, it's that as best i can tell these things are not even penetrating into the infosphere of maga. They are not only gleefully celebrating what they think he's doing, they are also seemingly completely ignorant of what they surely must not realize he's doing.
"We're winning! We're winning! We're making those little liberal piggies squeal!"
That's all that matters. Policies are a fucking joke. They're not real. It's all vibes-based politicking.
You will be paying for them in tariffs.
Think of it as redirecting the food assistance to leopards, feeding them poor maga faces.
I hate the language around the federal budget. First, how budget figures are reporting in 10 year intervals, when everything else is reported in 1 year intervals. So everything sounds 10 times bigger. When like only 5% of the population ever looks at the federal budget, this creates a TON of confusion.
Second, how reductions in tax (like to the rich) are reported as "giveaways". Taxes go in, not out. That's a reduction in revenue, not an expenditure or liability. You can say, "shift the tax burden even more onto the lower and middle classes". Then it's actually accurate. Getting fired from your job is not an expense, it's a loss of income. Same thing.
This. It's not as if they are printing literal money to give them.
Many companies benefit from tax deductions which give incentives to hiring new employees, investing in particular geographic areas of developing a sensitive industry
It might be semantically incorrect but it is still a decrease in tax for the rich which given the current disparity in wealth frankly is barely a distinction at all.
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