Spurious Analysis: Trump's tax bill won't even help the people it's supposed to help
FROM DEEP INSIDE ENEMY TERRITORY (Spurious Analysis Service) -- So far I haven't been able to find the full text of Trump's "One Big Beautiful Bill." I did, however, find a sales brochure for it:
https://waysandmeans.house.gov/wp-content/uploads/2025/05/The-One-Big-Beautiful-Bill-Section-by-Section.pdf
First things first: The OFFICIAL TITLE of this legislation is "The One Big Beautiful Bill Act of 2025." They need to, immediately if not sooner, track down the person who named an actual piece of legislation that and hand him over to the Detroit Lions for use as a tackling dummy.
This thing is pretty much a right-wing wish list all broken up into sections. Assume nothing in it is good, because that's the typical pattern with GOP bills on anything. In this brochure the child savings accounts - which will be administered by banks - are still called "MAGA Accounts." They hadn't gotten around to stripping in what "TRUMP Account" stands for. It includes things like ending the excise tax on indoor tanning that was part of the Affordable Care Act. So far, everything I've seen in the bill brochure falls into one of three categories: bad, bad and vindictive, or bad and non-applicable.
For instance, the exemption of tipped income from taxes. This is in the third category. A lot of people who earn tipped income don't make enough money to clear the standard deduction in the first place, so how exempting tips from tax you're not paying in the first place makes very little sense to me.
Another good example is their plan to exempt overtime pay from taxes. This is going to work out to be one grade-A pain in the ass for the business community, especially employers who calculate payroll by hand.
If this passes the Senate the harm it causes - and it will cause plenty - won't be restricted to the lower and working classes. The upper class gets screwed too - perhaps worse than the lower classes. This gets paid for through extreme austerity spending. That will cause money to stop flowing out of the government to tens of millions of businesses, most of which are really small. Without that money, a lot of these businesses won't survive.
The four things you need to know about the "Big Beautiful Bill" are:
a. The bill will pass the Senate and go through reconciliation with almost all the most odious parts intact.
b. Trump will sign it.
c. It will collapse the economy, possibly before the end of 2025.
d. Trump's attempts to fix the damage he caused will make it worse.
There's no precedent to this - not even Herbert Hoover was this bad.
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