- Joined
- Oct 22, 2002
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- Frozen in Michigan
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- Old Fart
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- Don't be a dick.
You believe that Trump/Musk shit???Not directly. But if and when the government becomes more solvent, fed monetary easing may become a thing of the past. Just NOT printing any more money means the middle class will no longer have to pay an inflation tax on top of all our other taxes that have caused normal people to be in debt up to their eye balls.I’m pretty sure they have no intention of returning the “wasted” tax money to us.
House Budget Would Increase Costs and Hardship for Many While Providing Huge Tax Breaks for a Wealthy Few
The House Republican budget passed today calls for massive cuts in health coverage, food assistance, and help paying for college, among some other areas, to pay for huge tax giveaways for wealthy households and businesses. This betrays President Trump’s campaign promises to protect families who struggle financially, as well as his specific pledge to not cut Medicaid, which provides health coverage for 72 million people. While raising costs for families and increasing both poverty and the number of people without health coverage, the budget would swell deficits — all to further Republicans’ expensive and skewed tax agenda.
Both the House and Senate budgets significantly miss the mark on what should be their basic goals: lowering costs, increasing opportunity, and responsibly addressing our nation’s long-term priorities, including reducing future economic risks associated with high deficits. But the enormity of program cuts called for by the House budget stands as a singular threat to the well-being of people in every state, city, and rural community, threatening to take away their health coverage, make health care more expensive, and make it harder to afford food and college.
The quick math on the House budget shows a stark equation: the cost of extending tax cuts for households with incomes in the top 1 percent — $1.1 trillion through 2034 — equals roughly the same amount as the proposed potential cuts for health coverage under Medicaid and food assistance under the Supplemental Nutrition Assistance Program (SNAP).
Under what set of values does a budget target those who struggle to pay their bills for severe cuts, while giving an annual tax cut averaging $62,000 for those who make $743,000 or more a year? The tax cut for these wealthy households is greater than the annual family incomes for most of the 72 million people — 1 in 5 people in the U.S. — who have health coverage through Medicaid. And the $62,000 figure doesn’t account for the likelihood that this budget would shower large corporations with more tax breaks, given that it allocates $900 billion more than extending the existing tax cuts would cost.