Lever Time 8 Absurd Handouts Hiding In Trump’s Tax Bill (With David Dayen)
Jul 14, 2025
David Dayen, executive editor of The American Prospect, joins David Sirota and Luke Goldstein to unpack the deceptive intricacies of Trump's tax bill. They examine how corporate tax cuts disproportionately benefit the wealthy while harming essential services for everyday Americans. Discussions reveal loopholes favoring industries like gambling and the absurdity of tax breaks on gun silencers. The trio also critiques the laughable funding for a 'Garden of Heroes', shedding light on legislative priorities that neglect crucial social programs.
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Tax Cuts Favor the Wealthy
- Trump's tax bill overwhelmingly benefits the richest 1%, providing $100 billion annually in tax cuts.
- These cuts come at the cost of Medicaid reductions, affecting millions of low-income Americans.
Defund Consumer Protection, Fund ICE
- The bill defunds the Consumer Financial Protection Bureau by 50% but massively expands ICE's budget to exceed many other federal law enforcement agencies combined.
- ICE funding will be used for a border wall, detention beds, and 3,000 new agents, escalating immigration enforcement.
Estate Tax Benefits the Super Rich
- The estate and gift tax exemption is permanently raised to $15 million per individual, benefiting only the ultra-wealthy.
- This costs $212 billion, money that could fund Medicaid or Medicare for many Americans.