We've got new distributional data on the Senate's "One Big Beautiful Bill Act" from @natasharsarin.bsky.social and team at @budgetlab.bsky.social. The results are **stark.** Top 0.1% _GAINS_ $97,000, or 1% of household resources. Bottom 20% _LOSES_ $600, or 3% of household resources.
Can the dems please market their opposition properly? Call this bill the “We Hate Normal People” bill.
I assume the bottom 20% doesn't reflect losses in HC and food benefits?
It's almost like someone should have taken a stand against this before the election, huh?
Looking at the subset of people who will have a $10k increase in income...how exactly? If this is just extending 2017 tax cuts, will these people actually see a benefit or will their benefit just be "your taxes could've gone up but didn't"?
American oligarchs aren’t just looting the country; they’re pillaging it. They want what Russian oligarchs have: unchecked power, influence, and a nation bent to their interests. America belongs to the people, and it’s an embarrassment that Democrats have allowed things to reach this point.
trump now wants to help farmers with his brilliant new idea- temporary work permits for laborers which already exists- H-2A trump has to be the dumbest spud-head to have ever sat in our Oval Office
Sad thing that $97k for the richest of the rich is meaningless to them. Literally like a penny on the sidewalk that they walk by.
Great, you've just told the top 80% of American taxpayers that this bill won't hurt them and the bottom 20% that they can take a hike because they're not a big enough voting block to do anything about this bill 𝘰𝘳 this regime. How is this helpful? 🤷
Please repost with alt text so everyone can know what this says
Oh boy I can’t wait to spend that extra $16K on commissary goods in the labor camp.
But remember, the top .01% will invest those gains, which is necessary to prevent inflated asset prices from collapsing, until later.
Can you overlay red vs blue state estimates. One thing republicans continue to do with these bills is remove deductions and benefits that skew blue (mortgage deduction for example is much more of a benefit in high cost blue states).
Can we please start referring to it as "One Big Bullshit Bill"? Please.
You certainly can! I as a reporter cannot. Official names only for me!
#Hypocrasy Scalise/Johnson proposed a slush fund to pay off 2 or 3 states. Money to keep snap/Medicaid, w/ an ask to vote yes. Hawaii & Alaska have been approached. Senator Murphy reports—Ak gop Sens Dan Sullivan/Lisa Murkowski will sell sell out 2 save Alaska Medicaid/Snap funds. Screw other states
Trump's America.
New Senate budget sets aside $8 billion in new spending on ICE hiring and retention. donmoynihan.substack.com/p/how-the-re...
This won't stimulate growth. What. A. Joke.
Is that lowest quintile loss of $600 copacetic with 1.3 Trillion dollar take away? Is this study only looking at the Income Tax part of the bill? $600 * say 60 million is only 36 Billion not 1.3 Trillion. bsky.app/profile/rbre...
I don’t need a tax break so people can lose their healthcare and the GOP can just fuck right off with this bullshit.
The redistribution is an obscenity, also, how will the enormous increase in the deficit affect the bond markets? If T prices keep going up, everybody, most of the rich and definitively the poor, will suffer.
Who says the America doesn't believe in redistribution of wealth?
Well SOMEONE gotta pay for the wealthy's tax cut.
Thanks. Showing the number of households in each category would make the data more palpable.
What does it mean for YOU? We made a tax calculator. Plug in your own info (we don't save it) and see if you're better or worse off.
When the calculator says you will be better off, that’s only as relates to taxes. For example: If you make $30k and lose the ACA subsidy to get insurance, a $300 tax savings is offset by a multi-thousand dollars cost to be insured.
why's this cap at 450k? think of the poor ai scientists
what about when you factor in tariffs?
This one doesn't include tariffs. This older one does, but it reflects the House edition of the bill:
What's in the bill? A blow-by-blow of the major components, explained.
Cramming it through before more people can protest it. Bad law by bad people.
And if you really want to nerd out, my running tracker of EVERYTHING in the bill:
And, of course, a link to @natasharsarin.bsky.social and @budgetlab.bsky.social's research:
Whats going to happen to us? Crippling cuts to healthcare, research, education, safety nets, federal services - are we going to implode?
Or starve. Or die during bad weather we don't know is coming, or bad food the government can't recall.
Or measles outbreaks.
Wow is this saying the bottom 20% of Americans earn under $13K annually?
I’m more shocked that 50% of Americans earn less than 36k. I’m not sure why. I guess I’d never really thought about it before.
most people don't now do they. or think those people are "lazy" and not disabled or kids.
Yeah that’s what I thought of immediately. They must be mostly young people just getting their footing and working part time or people who can’t work full time for health reasons. Why do they need to be punished? It’s insanity. It’s cruelty. It’s so malicious and gross.
Also there are seniors on social security in there.
There are tons of people who limit their hours so they can get healthcare. Doesn't mean they should be forced to work more since that will just make their disabilities even WORSE. The GOP is literally going to kill people so the richest of us can get a tax break.
You have got to see this presentation by Senator Whitehouse on how your electric bill will go up: www.youtube.com/watch?v=4cXa... Global warming and AI will raise your electric bill by >30%. Screw you, Chuck Koch!
What percentage of the bottom 20% voted for Trump?
My 95 year old Mother today asked me to not retire so I can take care of her. So I pulled my papers off the table. Hey DJT and the rest of you elitist motherfuckers..🖕🏿. Remember Karma is a mofo. Mitch..I will not be getting over this. Don't you forget you turtle looking sob. Plans. 🤔