What A Day Trump's War On The Poor
Trumps Budget Bill Benefits The Rich
- The 2023 budget bill signed by Trump cuts social safety programs for the poor while benefiting wealthy individuals and corporations with tax breaks.
- Republican opposition to the bill weakened due to party pressure rather than concessions from leadership.
How Trump's New Law is Punishing the Poor to Reward the Rich
President Trump's newly signed budget bill, dubbed the "One Big Beautiful Bill," is expected to have devastating effects on millions of low-income Americans.
Over the next decade, 17 million people could lose vital health coverage or subsidies through programs like Medicaid and SNAP. While polling shows broad unpopularity for the bill, many remain unaware of its specifics, making it a "bomb delivered by stealth."
The legislation locks in favorable tax rates for businesses and the wealthy, including deductions that mainly benefit rich taxpayers, such as an auto loan interest deduction for new cars.
Conversely, it enforces deep cuts and stricter requirements on social safety net programs that lower-income Americans depend on. The bill also increases costs for immigrants via new fees and taxes on remittances, further burdening vulnerable groups.
Ultimately, the policy redistributes wealth upward, favoring corporations and the rich at the expense of the poor and middle class.
Winners And Losers In The New Law
- The big winners of the new law are businesses and wealthy individuals due to tax rate stability and new deductions.
- The losers are low-income Americans facing cuts and stricter conditions on Medicaid and SNAP benefits.
