Congressional Budget Office says the "Big Beautiful Bill" would give to the rich and take away from the poor

[John Edgar Slow Horses]

Yeah, Toddsterpatriot, they do.

 

[Toddsterpatriot]

Yeah, Toddsterpatriot, they do.

?

 

[kyzr]

1. Add a 0.2% Transaction Tax on all financial transactions. Gains about $150b a year
No, it doesn't.
2. Remove Capital Gains tax break. Gains $100b a year
No, it doesn't.
3. Raise the cap on SS, saves SS
How?

1. $9T x 10% = $900b ok, so a 2% tax gets $180b

All Sectors; Total Capital Expenditures, Transactions

Graph and download economic data for All Sectors; Total Capital Expenditures, Transactions (BOGZ1FA895050005Q) from Q4 1946 to Q4 2024 about transactions, sector, capital, expenditures, and USA.

fred.stlouisfed.org

2. Eliminating the Capital Gains tax loophole actually gains about $500b. (not $100b)

The Real Capital Gains Tax Loophole Isn’t Borrowing—It’s Dying

Opinion: Columnist Andrew Leahey says eliminating the step-up basis rule on capital gains would help raise revenue and reduce inequity in the federal tax code.

news.bloombergtax.com

It’s also one of the largest annual tax expenditures, expected to amount to more than half a trillion dollars over tax years 2024–2033. This reflects bad policy and essentially bakes structural inequity into the tax code.

3. Raising the cap on SS gains revenue, and fixes SS

One way to fix Social Security? "Smash the cap"

Eliminating or lifting the tax cap would help stabilize Social Security, while also being fairer to most Americans, experts say.

www.cbsnews.com

Raising the Social Security Tax Cap - NCPSSM

According to the Social Security Trustees, the Social Security Trust Fund will be able to pay full benefits until 2034, and incoming payroll taxes will be sufficient to pay about 75 percent of benefits thereafter. Some are using this modest gap in long-term funding as a pretext to justify...

www.ncpssm.org

 

[initforme]

The age ofv64 for work requirement is 64. That should be lowered to 50. 64 is simply too old to be working and we need to be getting more people out of the workforce at earlier ages. People working longer hurts an economy bigly.

 

[kyzr]

The 1BBB just passed the House!

 

[kyzr]

The age of 64 for work requirement is 64. That should be lowered to 50. 64 is simply too old to be working and we need to be getting more people out of the workforce at earlier ages. People working longer hurts an economy bigly.

Early retirement for SS is 62, full retirement is 67, but Medicare is 65, so you need to budget healthcare if you retire early.
People working longer and paying taxes helps the economy.
Social Security needs the early retirement age of 62 raised to 65, not lowered to 50.

 

[berg80]

And he kicks lil baby kittens, too.

Democratic Rep. Brendan Boyle of Pennsylvania, the ranking member on the House Budget Committee, said in a statement, “This is what Republicans are fighting for — lining the pockets of their billionaire donors while children go hungry and families get kicked off their health care. CBO’s nonpartisan analysis makes it crystal clear: Donald Trump and House Republicans are selling out the middle class to make the ultra-rich even richer. Every word out of Trump’s mouth about helping working Americans was a lie.”

Did you think that sarcastic quip would mask the real world impact of children in America being hungry so the 1% can have more money to spend on caviar?

 

[berg80]

The 1BBB just passed the House!

Yet a new analysis from the nonpartisan Congressional Budget Office estimates that under the bill, “in general, resources would decrease for households in the lowest decile (tenth) of the income distribution, whereas resources would increase for households in the highest decile.”

Markets tumbled Wednesday on concerns that Trump’s spending bill will lead to exploding federal deficits and weaker long-term fiscal health for the nation. The yield on the 30-year Treasury bond yield hit 5.09%.
https://www.cnbc.com/2025/05/22/rump-tax-bill-passes-the-house-advances-to-senate.html

The through line of GOP, now POT, politics for decades has been to prioritize the benefits to the rich over the poor. Pretending that if the rich get richer the poor will have more scraps. What was once called "trickle down economics." It has never worked. It will never work. They know it. They keep giving rich people tax cuts anyway. The reckoning is coming.

 

[berg80]

The total effects reported in this analysis for the 2026–2034 period include the following:
• An increase in the federal deficit of $3.8 trillion attributable to tax changes, including extending provisions of the 2017 tax act, which includes revenues and outlays for refundable credits.
• $698 billion less in federal subsidies from changes to the Medicaid program.
• $267 billion less in federal spending for SNAP.
• $64 billion less in spending, on net, for all other purposes. That includes increases in outlays for defense, immigration enforcement, and homeland security. Those are offset by reductions in federal pensions, receipts from spectrum auctions, and changes in receipts and outlays associated with changes to emissions regulations.
• $78 billion in additional state spending, on net, accounting for changes in state contributions to SNAP and Medicaid and for state tax and spending policies necessary to finance additional spending.
https://www.cbo.gov/system/files/2025-05/61422-Reconciliation-Distributional-Analysis.pdf

 

[Mack The Finger]

1. I'm sure no matter what happens to the 1BBB the MSM will be lying their asses off promoting democrats over Republicans in 2026.

.
Never any details !

JimH: take health care benefits from roughly 15 million Americans;

No brake down of how many illegals who LIBs confider them Americans would be affected.

 

[Mashmont]

Evidently the goal is the make the gulf between the haves and the have-nots as wide as possible.

By letting people keep more of
their own money? Come on. Be reasonable. Dont rely on Marxist talking points.

 

[Mashmont]

Budget office: Republicans’ megabill would give to the rich and take from the poor

If GOP officials are looking for good news in the Congressional Budget Office's new report on the party's reconciliation package, they won't find any.

www.msnbc.com

A fresh analysis from the Congressional Budget Office said the tax provisions would increase the federal deficit by $3.8 trillion over the decade, while the changes to Medicaid, food stamps and other services would tally $1 trillion in reduced spending. The lowest-income households in the U.S. would see their resources drop, while the highest ones would see a boost, the CBO said.

Of course, the repubs wanted to pass the bill without the insight of the CBO. But the Dems asked for an analysis. It is no surprise the bill will be opposite of Robin Hood's venture. The repubs, as usual, are shooting themselves in the foot. If this bill passes, as it is, there will be a red bloodbath in 2026, beginning in November in Virginia. This bill, coupled with the inflation expected from trump's tariffs will

Budget office: Republicans’ megabill would give to the rich and take from the poor

If GOP officials are looking for good news in the Congressional Budget Office's new report on the party's reconciliation package, they won't find any.

www.msnbc.com

A fresh analysis from the Congressional Budget Office said the tax provisions would increase the federal deficit by $3.8 trillion over the decade, while the changes to Medicaid, food stamps and other services would tally $1 trillion in reduced spending. The lowest-income households in the U.S. would see their resources drop, while the highest ones would see a boost, the CBO said.

Of course, the repubs wanted to pass the bill without the insight of the CBO. But the Dems asked for an analysis. It is no surprise the bill will be opposite of Robin Hood's venture. The repubs, as usual, are shooting themselves in the foot. If this bill passes, as it is, there will be a red bloodbath in 2026, beginning in November in Virginia. This bill, coupled with the inflation expected from trump's tariffs will seal the deal.

More baseless negative predictions. You also predicted a recession. Where is it? You also predicted high inflation. Where is it? You also predicted higher grocery prices. They’re lower.

 

[JimH52]

trump is n9t even trying to hide his disdain for democracy.

 

[berg80]

.
Never any details !

JimH: take health care benefits from roughly 15 million Americans;

No brake down of how many illegals who LIBs confider them Americans would be affected.

Hey, you ignorant hack, how many illegal aliens qualify to get the health care benefits being cut?

 

[berg80]

By letting people keep more of
their own money? Come on. Be reasonable. Dont rely on Marxist talking points.

Will millionaires be comforted by that meme when their investments go down the tube because trump's bill is going to further increase the national debt, causing the market to tank?

 

[kyzr]

Yet a new analysis from the nonpartisan Congressional Budget Office estimates that under the bill, “in general, resources would decrease for households in the lowest decile (tenth) of the income distribution, whereas resources would increase for households in the highest decile.”
Markets tumbled Wednesday on concerns that Trump’s spending bill will lead to exploding federal deficits and weaker long-term fiscal health for the nation. The yield on the 30-year Treasury bond yield hit 5.09%.
The through line of GOP, now POT, politics for decades has been to prioritize the benefits to the rich over the poor. Pretending that if the rich get richer the poor will have more scraps. What was once called "trickle down economics." It has never worked. It will never work. They know it. They keep giving rich people tax cuts anyway. The reckoning is coming.

The CBO scored the 1BBB as a deficit of $380b annually, which the new tariffs could cover.

The option was Biden and the democrats who cost US families $11,400 is lost buying power/

Americans need an extra $11,400 today just to afford the basics, Republican analysis finds

Compared with 2021, the typical household must spend an additional $11,434 annually just to maintain their standard of living, analysis shows.

www.cbsnews.com

Americans need an extra $11,400 today just to afford the basics​

US families still come out ahead with Republican policies.

 

[Frankenstein]

Budget office: Republicans’ megabill would give to the rich and take from the poor

If GOP officials are looking for good news in the Congressional Budget Office's new report on the party's reconciliation package, they won't find any.

www.msnbc.com

A fresh analysis from the Congressional Budget Office said the tax provisions would increase the federal deficit by $3.8 trillion over the decade, while the changes to Medicaid, food stamps and other services would tally $1 trillion in reduced spending. The lowest-income households in the U.S. would see their resources drop, while the highest ones would see a boost, the CBO said.

Of course, the repubs wanted to pass the bill without the insight of the CBO. But the Dems asked for an analysis. It is no surprise the bill will be opposite of Robin Hood's venture. The repubs, as usual, are shooting themselves in the foot. If this bill passes, as it is, there will be a red bloodbath in 2026, beginning in November in Virginia. This bill, coupled with the inflation expected from trump's tariffs will seal the deal.

Deep state moaning and groaning on the way out

 

[Toddsterpatriot]

1. $9T x 10% = $900b ok, so a 2% tax gets $180b

All Sectors; Total Capital Expenditures, Transactions

Graph and download economic data for All Sectors; Total Capital Expenditures, Transactions (BOGZ1FA895050005Q) from Q4 1946 to Q4 2024 about transactions, sector, capital, expenditures, and USA.

fred.stlouisfed.org

View attachment 1114099

2. Eliminating the Capital Gains tax loophole actually gains about $500b. (not $100b)

The Real Capital Gains Tax Loophole Isn’t Borrowing—It’s Dying

Opinion: Columnist Andrew Leahey says eliminating the step-up basis rule on capital gains would help raise revenue and reduce inequity in the federal tax code.

news.bloombergtax.com

It’s also one of the largest annual tax expenditures, expected to amount to more than half a trillion dollars over tax years 2024–2033. This reflects bad policy and essentially bakes structural inequity into the tax code.

3. Raising the cap on SS gains revenue, and fixes SS

One way to fix Social Security? "Smash the cap"

Eliminating or lifting the tax cap would help stabilize Social Security, while also being fairer to most Americans, experts say.

www.cbsnews.com

Raising the Social Security Tax Cap - NCPSSM

According to the Social Security Trustees, the Social Security Trust Fund will be able to pay full benefits until 2034, and incoming payroll taxes will be sufficient to pay about 75 percent of benefits thereafter. Some are using this modest gap in long-term funding as a pretext to justify...

www.ncpssm.org

1. $9T x 10% = $900b ok, so a 2% tax gets $180b

0.2% gets $18 billion.

Eliminating the Capital Gains tax loophole actually gains about $500b. (not $100b)

And the loophole is what exactly?

3. Raising the cap on SS gains revenue, and fixes SS

If you double the tax on an earner, he'll get, basically, double the benefit.
That gains revenue now and spends more later. Not a fix.

 

[kyzr]

The total effects reported in this analysis for the 2026–2034 period include the following:
• An increase in the federal deficit of $3.8 trillion attributable to tax changes, including extending provisions of the 2017 tax act, which includes revenues and outlays for refundable credits.

$380b a year that new tariffs could cover.

• $698 billion less in federal subsidies from changes to the Medicaid program.

Only affecting the ineligible, like democrat states paying for illegals

• $267 billion less in federal spending for SNAP.

Not a federal responsibility according to the Constitution

• $64 billion less in spending, on net, for all other purposes. That includes increases in outlays for defense, immigration enforcement, and homeland security. Those are offset by reductions in federal pensions, receipts from spectrum auctions, and changes in receipts and outlays associated with changes to emissions regulations.

Defense spending will increase, wall funding will increase, so your talking point is buillshit

• $78 billion in additional state spending, on net, accounting for changes in state contributions to SNAP and Medicaid and for state tax and spending policies necessary to finance additional spending.

OK, I like it. Sanctuary states need to be brought to heel.

 

[Toddsterpatriot]

The age ofv64 for work requirement is 64. That should be lowered to 50. 64 is simply too old to be working and we need to be getting more people out of the workforce at earlier ages. People working longer hurts an economy bigly.

Exactly! Nothing better for the economy and Social Security than having people
produce for 14 fewer years while they collect for 14 more.

Your math is so bad, you must be IM2.