For months, the media and other Democrats have trashed the OBBB with regurgitated talking points, because they don’t want President Trump to be successful. Then, they present a poll that shows a majority of people don’t support the bill, and the media treats the poll as if it is gospel. It is all B.S.
The Democrat talking points are that the bill increases deficits by $3.3 trillion, the bill only benefits the rich, and eleven million will lose health care and people will die. The predictions are based on scoring metrics from supposedly non-partisan offices and agencies whose previous predictions are almost always massively wrong. Why are their predictions reported by the media as if they are infallible when they have continuously been so wrong?
The answer is the media hasn’t cared about facts for a long time. All they care about is electing Democrats and destroying Trump and Republicans.
Republicans truthfully say that if the bill weren’t passed, the economy would be destroyed because of a massive tax hike for everyone who pays taxes. They also truthfully say that Medicaid and other federal programs have been abused.
As for the Congressional Budget Office: In 2017, they said the Trump tax rate cuts would cost the government trillions. But in fact, revenues increased by trillions as Trump correctly predicted. The cuts also benefited everyone. The economy thrived until COVID hit. Real incomes, especially for those at the bottom, were increasing. Poverty hit a record low, and income inequality was reduced. Inflation remained low. No matter what the facts were, the media and other Democrats continue to repeat the lie that the tax rate cuts cost the government trillions and were only for the rich.
The current CBO predictions are ridiculous. They act like raising tax rates back to levels before 2017 will not destroy the economy. They predict confiscating trillions of dollars more will not harm anything. They ignore the fact that revenues are currently rising under current rates. Federal revenue is going from $4.9 trillion in FY 2024 to $5.2 trillion in FY 2025 under current rates.
The problem isn’t revenue. It is spending. The government spent $4.4 trillion in FY 2019, and around $7 trillion today. That is up over 50% in five years while inflation has been under 25%. Yet any spending freezes are met by lawsuits and blocks by activist judges and other Democrats.
The media and other Democrats never cared about the deficit when Biden ran up spending and flooded America with illegals. The deficit was over 7% of GDP while they bragged about how great the economy and Biden’s policies were.
As far as the OBBB giving billionaires huge tax breaks here are the facts:
The current tax rate is 37%, and the new tax rate is 37%, which means no change.
Current investment income rate surtax is 3.8%, and the new rate is 3.8%. Again, no change.
SALT cap increases from $10,000 to $40,000, and this only affects people with income under $500,000, not billionaires.
The first $25,000 in tip income is not taxed, but phases out at $175,000 for individuals and $350,000 for couples. It is not for the rich.
The first $12,500 of overtime is not taxed, but again, phases out.
The Child Tax Credit is made permanent and increased to $2,200 and phases out. The cuts are not for the rich.
A new deduction for social security of $6,000 per person phases out at $75,000, and $150,000 for couples. It is not for the rich.
One of the best provisions in the bill is to immediately expense equipment purchases and factory construction. Some claim this timing difference is extremely expensive but do not recognize the economic multiplier effect of all the jobs this provision creates and how much taxes will increase because of these jobs.
As far as the supposedly deep and disastrous effects of trying to reform Medicaid to make sure illegals aren’t covered and to help healthy young people being encouraged to work and move up the economic ladder, the CBO has always overestimated the number of people that would be covered by Obamacare, as well as the number that would lose insurance when Trump got rid of the individual mandate. Their predictions are worthless.
After months of lying about how disastrous the Medicaid cuts would be and after the bill passed, a WaPo writer finally admits that they were just making stuff up to scare the public:
Why the GOP’s Medicaid cuts are less than meets the eye
States will find new ways to lessen the impact, and nonpartisan scorekeepers often miss the mark with their predictions.
Just like they lied about Russian collusion, the Hunter laptop, the border, climate change caused by humans, and all the other propaganda they spread to destroy Trump and Republicans.
We see all sorts of articles claiming the bill will help Democrats in the next election. Yes Democrats, go out and tell the voters how higher taxes and more illegals are a good thing, and how destructive it is to renew Clinton’s policy to have healthy people work for health benefits. That should be a big winner.
The Republicans are for We the People. Democrats are for a powerful government.
Image generated by AI.