10.9 million people would lose health insurance under Trump's tax cut bill, CBO projects

[debbiedowner]

The law extends tax breaks on individuals and corporations that Trump passed in 2017, while adding new tax cuts. It also boosts spending on immigration enforcement and the military and makes deep cuts to the Medicaid health care program for the poor.
Republican lawmakers largely shrugged off concerns about the legislation as it advanced, saying it would prove out over time. Democrats have vowed to make the new law a major campaign issue, saying it disproportionately benefits the rich and hurts lower income people.

'Big, fat tax break': Vance starts push to sell signature Trump law amid polling concerns

Trump's legislation narrowly cleared Congress. Now the administration is facing the challenge of selling it to the public.

www.yahoo.com

It also takes away the enhanced tax credits (subsidies) on individual health plans. That was part of the IRA. It helped many people. Won't for next year.

 

[Kilroy2]

This is just the Trump version of the trickle down theory used by Ronald Reagan years ago. He is not going to call it that because it is not popular unless your rich.

History suggests that policies relying on “trickle-down economics” are destined to fail, and yet the idea, for some, still persists. David Hope explains why tax cuts for top earners only benefit the rich and why the issue is so controversial to discuss.​

Coincidentally Trump is rich So his tax plan benefits him.

Tax cuts for the wealthy only benefit the rich | LSE Research

Trickle-down economic policies are destined to fail, research suggests. David Hope explains why the issue is so controversial.

www.lse.ac.uk

 

[Kilroy2]

Oh , yeah and Trump benefits from reducing taxes on the wealthy along with his friends.

 

[Toddsterpatriot]

The law extends tax breaks on individuals and corporations that Trump passed in 2017, while adding new tax cuts. It also boosts spending on immigration enforcement and the military and makes deep cuts to the Medicaid health care program for the poor.
Republican lawmakers largely shrugged off concerns about the legislation as it advanced, saying it would prove out over time. Democrats have vowed to make the new law a major campaign issue, saying it disproportionately benefits the rich and hurts lower income people.

'Big, fat tax break': Vance starts push to sell signature Trump law amid polling concerns

Trump's legislation narrowly cleared Congress. Now the administration is facing the challenge of selling it to the public.

www.yahoo.com

The law extends tax breaks on individuals and corporations that Trump passed in 2017,

They had those breaks during 4 years of Biden's failures, and I didn't see Biden cutting Medicaid for illegals.


It also boosts spending on immigration enforcement and the military and makes deep cuts to the Medicaid health care program for the poor.

Yes, cutting deeply into the money spent on Medicaid for illegal aliens and the lazy.

 

[Toddsterpatriot]

This is just the Trump version of the trickle down theory used by Ronald Reagan years ago. He is not going to call it that because it is not popular unless your rich.

History suggests that policies relying on “trickle-down economics” are destined to fail, and yet the idea, for some, still persists. David Hope explains why tax cuts for top earners only benefit the rich and why the issue is so controversial to discuss.​

Coincidentally Trump is rich So his tax plan benefits him.

Tax cuts for the wealthy only benefit the rich | LSE Research

Trickle-down economic policies are destined to fail, research suggests. David Hope explains why the issue is so controversial.

www.lse.ac.uk

Supply-side economics works every time it is tried.

 

[Kilroy2]

In this piece, we show that Presidents Trump and Biden both approved substantial net spending increases, while President Trump also approved substantial net tax cuts.

• President Trump approved $2.9 trillion of gross tax cuts over ten years ($2.4 trillion non-COVID), along with $400 billion of tax increases, for a net tax cut of $2.5 trillion ($2.0 trillion non-COVID).
• President Biden approved almost $600 billion of gross tax cuts ($400 billion non-COVID) and nearly $600 billion of tax increases ($500 billion non-COVID) for little change in taxes.
• As a result of these changes, President Trump increased ten-year interest costs by about $1 trillion ($800 billion non-COVID), while President Biden increased ten-year interest costs by just under $500 billion ($300 billion non-COVID).

The big difference between the two is Trump figures are in the Trillion
and
Biden figures are in the billion



That the difference, Trump numbers were way higher
covid 19 was an issue

Its like Trump was throwing money at the people to gain re-election especially the tax breaks for the rich.

Trump and Biden: Tax and Spending Changes | Committee for a Responsible Federal Budget

2024-06-27-In a recent analysis, we estimated that former President Donald Trump approved $8.4 trillion of new ten-year borrowing d

www.crfb.org

 

[justoffal]

How many are illegals? How many are healthy adults gaming the system?

Many

 

[sartre play]

We are in trouble,
Blame the other party not the one you like best.
Have thing gotten WAY better for the RICHEST? AND HAVE THEIR NUMBERS & DOLLARS GROWN?
Have things improved for most?
That's the question to ask.

 

[justoffal]

We are in trouble,
Blame the other party not the one you like best.
Have thing gotten WAY better for the RICHEST? AND HAVE THEIR NUMBERS & DOLLARS GROWN?
Have things improved for most?
That's the question to ask.

Rich people are rich for a reason. You could take all of Warren buffett's money away and throw him into the gutter penniless and at the end of the year he would have millions of dollars again. You could give 2 million to a poor food stamp family and at the end of the year there would be broke again.
The rich are getting richer but not in our expense they're getting richer because they continue to do what made them rich in the first place.