Thursday, February 27, 2025

The Hard Truths about Trump Tax Cuts

Jim VandeHei and Mike Allen write for Axios about the simple math that doesn't add up in Washington. Spoiler alert, the Republicans' $5 trillion in tax cuts proposal will not lower the debt.

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The US government spent more during President Donald Trump's first month in office than it did during the same period a year ago, in a sign his cost-slashing effort has yet to reduce the nation's heavy fiscal obligations, a Reuters analysis of federal data shows reut.rs/3EWYnQO[image or embed]

-- Reuters (@reuters.com) February 26, 2025 at 9:40 AM

Comments

Interesting analysis today in WSJ regarding the existing 2017 tax cut program:
-rick folks received tax cuts which amounted to a greater percentage of their income than did the less well off, and the bottom rung of taxpayers got nearly no tax break
-there are no signs that the tax cuts generated any new jobs
-the small amount of additional income most Americans saw was greatly offset by the additional debt brought on by the tax cuts
-the tax cuts did NOT pay for themselves
-extending the tax cuts will cost trillions over the next ten years
-in the end, the 2017 tax cuts were simply tax cuts for rich folks--nothing more or less

Tune in over the coming months when Americans will be treated to the same lies, e.g., all Americans will benefit greatly, the cuts will pay for themselves, they are needed for economic growth in the US, blah, blah, blah...

#1 | Posted by catdog at 2025-02-27 09:51 AM

Just more rip offs of the middle class to feed the unending greed of the park my boat inside my boat rich.

#2 | Posted by Nixon at 2025-02-27 05:46 PM

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