Donald Trump Sets Focus On $4.5 Trillion In Tax Cuts.

His Tax Proposal Is Set To Add $4.5 Trillion To The Deficit, While Cutting From Multiple Agencies.

U.S President Donald Trump Gives A Thumbs Up.

Following his election victory in November, Donald Trump came into office with one major promise to the American people.

Cut wasteful spending.

He has followed that up by wasting $7 million in taxpayer money for Elon Musk to misrepresent spending numbers that are publicly available for free. Then sending a tax proposal to congress that would add $4.5 trillion to the deficit.

If that’s not wasteful spending, I don’t know what is.

Benefit by Household Income From 2017 Trump Tax Cuts.

Especially when you realize how little benefit the average working class family will see compared to the wealthiest of families.

The median household income in the United States was $80,610 in 2023, which would see a return of around $910 from Trump’s 2017 tax cut.

That’s for the entire household, not each individual in the household. In some states that’s maybe one months rent, in others a month’s rent and a few groceries. In places like New York, it’s not even that.

Meanwhile, business investment dropped after the tax cuts. As did corporate tax revenue, meaning the profits corporations saw didn’t trickle down at all.

Most Corporate Profits Were Driven Overseas.

It allowed for corporations to ship their profits overseas and pay a lower tax rate, something we saw them do at drastically higher levels under Trump. This led to record low levels of revenue in America absent a recession.

Now Trump is pushing for this again, but with even more cuts that are skewed toward the wealthiest members in society. It’s done so by adding in more cuts that only apply to those in the higher tax brackets, that way they can always claim the percent of income tax is equal.

However, things like the deduction on pass-through income, the weakening of the alternative minimum tax, and doubling the estate tax exemption all disproportionately apply to the wealthiest members of society.

The reduction in revenue seen from this, is why these massive tax cuts are always doubled with attacks on social programs. While Elon Musk and other Republicans have targeted Social Security, it seems for now Trump would rather set his eyes on Medicaid.

Medicaid provides health insurance to low-income individuals, in some states as high as 30% of the population relies on Medicaid. 41% of births in America are covered by Medicaid, including many high-risk pregnancies.

Medicaid Usage By Population.

Cuts to this program would be devastating. It would be the furthest thing from cutting wasteful spending. Try telling the mother she’s on her own with her pregnancy because the cost of the birth is “wasteful spending.” How pro-life is that?

It would be more akin to cutting government efficiency, to fund more wasteful spending. The idea it’s the billionaires who need more financial relief in this country is insane.