Doug…Tom...George…
I'm a little overwhelmed...I’m lumping you together cause there are too many posts for me to respond to...I just don’t have the time to give your posts that much attention...not being snarky...but I hope this reflects how I feel about the article...
the "One Big Beautiful Bill" (OBBBA) primarily benefits high-income households and corporations by making 2017 tax cuts permanent and adding new investment tax breaks.
While proponents argue it boosts the working class, studies show over 60% of tax cuts go to the top 20% of households.
The lion’s share of the cuts go to the wealthy...not just the wealthy...the ultra upper 20% of the wealthy in America...why do they deserve bigger tax cuts?
They should pay their share...
Which Americans need tax cuts the most...the wealthy or the poor?
Why shouldn’t the ultra wealthy pay their taxes based on their income...instead of getting a better break than others?
The article I posted shows how the BBB affects one family that is not in the ultra upper 20% of America…
Anybody who knows me...knows I was in the hospitality business...I worked with tipped employees (waitress’s)...tough job...they deserve any breaks they can get as they were paid minimum wage...which when I was in business was less than $3.00 per hour...I applaud the tax breaks for them...I loved the concept of “No Tax On Tips”...but that phrase is misleading...there is a cap on this...it’s not “no tax on tips”...it’s no tax on some tips…
The article I posted shows that this tax break is not as advertised...as advertised as “no tax on tips”...that not the whole story...it’s capped and this family is saying it’s not making much difference to them tax refunds…
The average refund this tax season was $3,521, about $350 more than last year, according to IRS data as of March 27. The White House has said the extra cash in people’s pockets will help boost the economy.
So...$350 a year benefit for the non ultra upper class Americans…
Whoopie…
a $350 a year stimulus package…
that’s a whopping $29.17 per month…
a total of .97 cents per day…
so if you’re not getting the lion’s share of the tax breaks…
maybe once a month...you can go out and splurge on a pizza and 2 beers…that will really boost the economy…
while all the time….the wealthy get the best deal…
President Trump’s
“One Big Beautiful Bill Act” (OBBBA) made the largest-ever cuts to social safety net programs in U.S. history to fund tax cuts for the ultra wealthy and corporations. The OBBBA extends, expands, or implements more than
$4.5 trillion in tax breaks — mostly for billionaires — while making more than
$1 trillion in cuts to programs that many rely on for health care, adequate nutrition, and student loans.
Black communities will be among the hardest hit by these funding cuts, facing higher costs, fewer resources, and deeper debt. Here’s a look at some of the programs that will be significantly altered.
