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Buried in the fine print -- How their Tax Bill benefits the Rich [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-06-26
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In case you missed it ...
The GOP's massive bill would benefit the rich the most — while hitting the poor
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The tax cuts deliver the biggest savings for top earners and more modest gains for those with average incomes, the CBO found [Congressional Budget Office]. For families making less than about $55,000 a year, the cutbacks in government benefits typically outweigh any tax savings, leaving them with a net loss. "The changes would not be evenly distributed among households," CBO director Phillip Swagel wrote in a letter to lawmakers. "In general, resources would decrease for households towards the bottom of the income distribution, whereas resources would increase for households in the middle and top of the income distribution." The biggest winners in the CBO's analysis are families in the top 10% of household income, earning an average of $692,000 a year. On average, they'd see annual savings of about $12,000 or 2.3%. Middle-income families earning between $86,000 and $107,000 would see average annual savings between $500 and $1,000, or less than 1%. And families on the bottom rungs of the income ladder, earning around $23,000 a year, would see an average loss of $1,600 each year , or 3.9%.
www.npr.org/…
These losses hitting those in the low income brackets in various ways, including cutting their Health Care and Food Assistance. So much for MAGA labeling of “Beautiful Bill.” Turns out that’s just another Republican lie.
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Republican Tax breaks lies in table format:
Funny how the Lower Income homes are bearing the brunt of this.
Republican Tax “reductions” lies in proportional chart form, where the “income savings” are all but microscopic — except for the very well off:
Given how much the rich already are making, hardly seems like they need the “tax break.”
For the least among us, they become even more poor. Especially in terms of quality of life.
It’s just the Republican way.
Just another day in Trump’s far-from-reality show.
A show where we all end up losing something, each and every despicable day.
As they do their damnedest, to Make America Greedy Again.
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8 Ways the Senate Budget Bill Is More Extreme Than the House-Passed Big, ‘Beautiful’ Bill
AmericanProgress.org — June 24, 2025
SOMEONE — has to pay up, afterall.
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