Trump Tax Law Squeezes Poor, Boosts Income for Wealthy, CBO Says

[Guno צְבִי]

President Donald Trump’s tax and spending law will deal a financial blow to the poorest Americans while boosting the income of wealthier households, according to a new analysis from the Congressional Budget Office.

The poorest 10% of households will lose an average of about $1,200 in resources per year, amounting to a 3.1% cut in their income, according to the analysis released Monday of the “One Big Beautiful Bill Act.” Households in the highest 10% of incomes will see about a $13,600 boost in resources on average, amounting to a 2.7% increase in their incomes.

https://news.yahoo.com/finance/news/trump-tax-law-squeezes-poor-185207334.html

 

[Ross Dolan]

President Donald Trump’s tax and spending law will deal a financial blow to the poorest Americans while boosting the income of wealthier households, according to a new analysis from the Congressional Budget Office.

The poorest 10% of households will lose an average of about $1,200 in resources per year, amounting to a 3.1% cut in their income, according to the analysis released Monday of the “One Big Beautiful Bill Act.” Households in the highest 10% of incomes will see about a $13,600 boost in resources on average, amounting to a 2.7% increase in their incomes.

https://news.yahoo.com/finance/news/trump-tax-law-squeezes-poor-185207334.html

That is exactly what the MAGA morons want. To boost the wealth of the wealthiest...and reduce the wealth of the poorest.

I suspect even they cannot figure out why they want that.

 

[Grokmaster]

President Donald Trump’s tax and spending law will deal a financial blow to the poorest Americans while boosting the income of wealthier households, according to a new analysis from the Congressional Budget Office.

The poorest 10% of households will lose an average of about $1,200 in resources per year, amounting to a 3.1% cut in their income, according to the analysis released Monday of the “One Big Beautiful Bill Act.” Households in the highest 10% of incomes will see about a $13,600 boost in resources on average, amounting to a 2.7% increase in their incomes.

https://news.yahoo.com/finance/news/trump-tax-law-squeezes-poor-185207334.html

The CBO is as full of shit as they always are.

Scalise Corrects Record on Faulty CBO Projections​

June 4, 2025
Press Release
WASHINGTON, D.C.—Today, House Majority Leader Steve Scalise (R-La.) joined Speaker Mike Johnson (R-La.), House Majority Whip Tom Emmer (R-Minn.), Conference Chairwoman Lisa McClain (R-Mich.), and Congressman Mark Messmer (R-Ind.) to discuss how the One Big Beautiful Bill will reduce our deficit and unleash economic growth. Leader Scalise slammed the Congressional Budget Office’s false projections, noting their history of miscalculating opportunities for economic growth like they did with the 2017 Tax Cuts and Jobs Act. Leader Scalise highlighted how House Republicans will continue to rally around legislation that protects taxpayer dollars, pointing to the White House-requested rescissions package that Leader Scalise is bringing to the House Floor next week. Additionally, Leader Scalise condemned the horrific antisemitic terror attacks that continue around the country.

Image

Scalise Corrects Record on Faulty CBO Projections

WASHINGTON, D.C.—Today, House Majority Leader Steve Scalise (R-La.) joined Speaker Mike Johnson (R-La.), House Majority Whip Tom Emmer (R-Minn.), Conference Chairwoman Lisa McClain (R-Mich.), and Congressman Mark Messmer (R-Ind.) to discuss how the One Big Beautiful Bill will reduce our deficit...

scalise.house.gov

 

[TOP]

The CBO is as full of shit as they always are.

Scalise Corrects Record on Faulty CBO Projections​

June 4, 2025
Press Release
WASHINGTON, D.C.—Today, House Majority Leader Steve Scalise (R-La.) joined Speaker Mike Johnson (R-La.), House Majority Whip Tom Emmer (R-Minn.), Conference Chairwoman Lisa McClain (R-Mich.), and Congressman Mark Messmer (R-Ind.) to discuss how the One Big Beautiful Bill will reduce our deficit and unleash economic growth. Leader Scalise slammed the Congressional Budget Office’s false projections, noting their history of miscalculating opportunities for economic growth like they did with the 2017 Tax Cuts and Jobs Act. Leader Scalise highlighted how House Republicans will continue to rally around legislation that protects taxpayer dollars, pointing to the White House-requested rescissions package that Leader Scalise is bringing to the House Floor next week. Additionally, Leader Scalise condemned the horrific antisemitic terror attacks that continue around the country.

Image

Scalise Corrects Record on Faulty CBO Projections

WASHINGTON, D.C.—Today, House Majority Leader Steve Scalise (R-La.) joined Speaker Mike Johnson (R-La.), House Majority Whip Tom Emmer (R-Minn.), Conference Chairwoman Lisa McClain (R-Mich.), and Congressman Mark Messmer (R-Ind.) to discuss how the One Big Beautiful Bill will reduce our deficit...

scalise.house.gov

It's those pesky details...

 

[Margaret]

Hello Everyone,
A new report from the Congressional Budget Office says President Donald Trump’s tax and spending law will take money out of the pockets of the poorest Americans while padding the incomes of the wealthy. According to the analysis of the “One Big Beautiful Bill Act,” the poorest 10% of households will lose about $1,200 a year on average roughly a 3.1% hit to their income. Meanwhile, the top 10% of earners will gain about $13,600 a year, or 2.7% more income.

 

[Poor Richard Saunders]

The CBO is as full of shit as they always are.

Scalise Corrects Record on Faulty CBO Projections​

June 4, 2025
Press Release
WASHINGTON, D.C.—Today, House Majority Leader Steve Scalise (R-La.) joined Speaker Mike Johnson (R-La.), House Majority Whip Tom Emmer (R-Minn.), Conference Chairwoman Lisa McClain (R-Mich.), and Congressman Mark Messmer (R-Ind.) to discuss how the One Big Beautiful Bill will reduce our deficit and unleash economic growth. Leader Scalise slammed the Congressional Budget Office’s false projections, noting their history of miscalculating opportunities for economic growth like they did with the 2017 Tax Cuts and Jobs Act. Leader Scalise highlighted how House Republicans will continue to rally around legislation that protects taxpayer dollars, pointing to the White House-requested rescissions package that Leader Scalise is bringing to the House Floor next week. Additionally, Leader Scalise condemned the horrific antisemitic terror attacks that continue around the country.

Image

Scalise Corrects Record on Faulty CBO Projections

WASHINGTON, D.C.—Today, House Majority Leader Steve Scalise (R-La.) joined Speaker Mike Johnson (R-La.), House Majority Whip Tom Emmer (R-Minn.), Conference Chairwoman Lisa McClain (R-Mich.), and Congressman Mark Messmer (R-Ind.) to discuss how the One Big Beautiful Bill will reduce our deficit...

scalise.house.gov

The CBO predicted Trump's tax bill in his first term would add $1.8 trillion to the debt. Instead that tax bill has added $2 trillion to the debt as Trump's first term resulted in 25% of the current US debt, over $8 trillion.

 

[Cypress]

The CBO is as full of shit as they always are.

Scalise Corrects Record on Faulty CBO Projections​

June 4, 2025
Press Release
WASHINGTON, D.C.—Today, House Majority Leader Steve Scalise (R-La.) joined Speaker Mike Johnson (R-La.), House Majority Whip Tom Emmer (R-Minn.), Conference Chairwoman Lisa McClain (R-Mich.), and Congressman Mark Messmer (R-Ind.) to discuss how the One Big Beautiful Bill will reduce our deficit and unleash economic growth. Leader Scalise slammed the Congressional Budget Office’s false projections, noting their history of miscalculating opportunities for economic growth like they did with the 2017 Tax Cuts and Jobs Act. Leader Scalise highlighted how House Republicans will continue to rally around legislation that protects taxpayer dollars, pointing to the White House-requested rescissions package that Leader Scalise is bringing to the House Floor next week. Additionally, Leader Scalise condemned the horrific antisemitic terror attacks that continue around the country.

Image

Scalise Corrects Record on Faulty CBO Projections

WASHINGTON, D.C.—Today, House Majority Leader Steve Scalise (R-La.) joined Speaker Mike Johnson (R-La.), House Majority Whip Tom Emmer (R-Minn.), Conference Chairwoman Lisa McClain (R-Mich.), and Congressman Mark Messmer (R-Ind.) to discuss how the One Big Beautiful Bill will reduce our deficit...

scalise.house.gov

Scalise is partisan.

CBO is required by law to provide nonpartisan analyses.

 

[Nordberg]

The CBO is as full of shit as they always are.

Scalise Corrects Record on Faulty CBO Projections​

June 4, 2025
Press Release
WASHINGTON, D.C.—Today, House Majority Leader Steve Scalise (R-La.) joined Speaker Mike Johnson (R-La.), House Majority Whip Tom Emmer (R-Minn.), Conference Chairwoman Lisa McClain (R-Mich.), and Congressman Mark Messmer (R-Ind.) to discuss how the One Big Beautiful Bill will reduce our deficit and unleash economic growth. Leader Scalise slammed the Congressional Budget Office’s false projections, noting their history of miscalculating opportunities for economic growth like they did with the 2017 Tax Cuts and Jobs Act. Leader Scalise highlighted how House Republicans will continue to rally around legislation that protects taxpayer dollars, pointing to the White House-requested rescissions package that Leader Scalise is bringing to the House Floor next week. Additionally, Leader Scalise condemned the horrific antisemitic terror attacks that continue around the country.

Image

Scalise Corrects Record on Faulty CBO Projections

WASHINGTON, D.C.—Today, House Majority Leader Steve Scalise (R-La.) joined Speaker Mike Johnson (R-La.), House Majority Whip Tom Emmer (R-Minn.), Conference Chairwoman Lisa McClain (R-Mich.), and Congressman Mark Messmer (R-Ind.) to discuss how the One Big Beautiful Bill will reduce our deficit...

scalise.house.gov

Yeah, if you want the truth, listen to Miller, Trump and Alex Jones. Destroy the CBO.

 

[Lionfish]

That is exactly what the MAGA morons want. To boost the wealth of the wealthiest...and reduce the wealth of the poorest.

I suspect even they cannot figure out why they want that.

That Depends frankie.