the thing that's so fucking infuriating about this is how much more that matters for the bottom 10% $1200 can be life or death at that level of income top 10%? $13K is nice, to be sure, but it's "maybe we'll take another vacation" nice not "oh good now we can afford to eat this month"
In younger days I became homeless once because my roommate ran my phone bill up to $90 and split and I couldn’t afford the rent by myself
Exactly seems like it’s proving a point more than anything.
Reverse RobinHooding. Wealth transfer going in absolutely the wind direction.
*wrong Edit button, stat!!
A hundred bucks a month for people most likely earning below minimum wage, and/or part time, no benefits. Sickening.
Something tells me that's the plan. I get the feeling Trump wants this country to be more like the UAE. A place of immense wealth and privilege with extremely strict laws (and lots of gaudy gold crap everywhere). Aside from higher education, his actions fit.
Kalecki time again
The rich, ironically, have no idea of the value of a dollar. They've never had to decide between food and rent, between utilities and medicine, between the phone bill and shoes for the kids. It's just scorekeeping for them. So another 13K points is a win - and that's all that matters.
And, of course, the bestest way to be sure you've won is if you can clearly see how many other people lost.
Yes! This! It will be devastating to the bottom 10%.
It's stealing from working folks to give money to rich folks. Historically speaking, this does not end well for rich folks.
Rich people should be killed and eaten
No, thank you; I don't need the extra brain rot. ... the compost bins could use the extra nutrients, though.
Top 10% is what annual salaries?
I worked for a social work agency for 13 years and my top gross pay was something like $26,000 a year. I used to daydream about making even $50 more take home pay each month. At one point I was taking odd jobs cleaning offices and homes and working catering jobs. Pushed myself into burnout fast.
This has been Republican policy since Reagan. There's always been a catchphrase, be it Trickle Down, Skin in the Game, or just Trump.
They RAISED taxes on people making <$30K for something like $1.3B in additional revenue. That’s not out of necessity. It’s just to inflict pain.
remember they believe being poor is your own personal failing git gud peasant
$1200 is the difference between making rent for an extra month and not, or paying the electric and water bills or not
Exactly
Right?!
Even this scale is kind of misleading because the difference between the 91st and 98th percentile looks a lot like the difference between the 85th and 91st percentile, but after 98.5 the graph go bonkers.
It's literally stealing from the poor to give to the rich. Not to mention the fact that they are borrowing (from China, among others) to give *even more* to the rich.
🇺🇸💩🕳️
Trumponomics—tax the poor and more tax cuts for the quadrillionaires
$1200 is my house payment (I am incredibly lucky with my housing costs). Losing that will make me homeless. I've worked at the same job 21 years and I'm a veteran. I'm so tired of this shit
$1200 is around 75% of my monthly income 🙃
Seriously, a 1000 dollar check given to me right now would change my life. A CEO getting a 500K bonus does materially NOTHING to their life
It's only going to be exacerbated when you take into account how much inflation will be accelerated by Trump's tariffs. The chart is all in 2025 dollars.
That's the point of this bill, though.
What's "funny" is if you broke down the top 10% into a similar chart it would look extremely similar. 5-6K gains for the 91%, 100k+ gains for the 99%. The people who need the least getting by far the most.
Don't worry, I'm sure it'll all trickle down soon! Sure it hasn't yet all those previous times, but I've got a good feeling about this one! They can't be that heartless after all!
Outside looking in ? It feels like we’re watching our previously admired neighbours purposely degrade and infect each other with hatred and chaos. It’s surreal We hope it changes soon 🇨🇦💪
The whole bill is a fuck you and die to so many especially rural areas
If the bottom 10% just worked harder they would be fine, and now they have extra incentive to put the extra hours in. That's right yes? That's what I hear... 🤦♂️
My bootstraps broke. 😬
I remember when my situation was bleak and I was blaming myself for not budgeting better. My roommate and friend pointed out that with the money I was earning, every dime went to necessities
Now add tariffs, right?
I really wish economy discourses would center the relative value of the same money at different economic strata. Not just in terms of percentage of wealth/income, but just how much more valuable a dollar is to a poor person than a rich person above and beyond that.
EVERY TIME I get in a discussion of flat taxes, and “everyone having skin in the game” I have to go through this. -Do you think there’s a minimum cost to stay alive? -well, yeah… - So if you take 10% from someone who needs every dollar, what then? - Huh. I didn’t think of it that way. 😐
Understanding the concept of marginal utility is a blasphemy against America's God.
What's next? Understanding marginal tax rates?
Ixnay on the arginalmay axtay atesray! Do you want the inquisition to pick all of us up? They'll do it!
Also the concept of the velocity of money! It’d be much harder to defend regressive tax cuts for the rich if everyone understood how giving money to poor people stimulates the economy way more than giving it to rich people who sit on it and hoard it!
We have a President who doesn't live in a house, he lives in hotel rooms and he just learned the word "groceries".
That's roughly $175 billion, if we instead spread that out across the bottom 50%, that would be a check for $2720 per household to those who actually need it
Which would immediately be used, stimulating the economy.
Like. Bottom 10%? $1200 is literally your entire paycheck. If not a large chunk of it. And given the cost of living is just getting higher and higher, well...Like you said. Life or death. Then you combine it with the EO demanding the institutionalization of homeless people? Fuck.
Yeah and in the 8th or 9th tenth, the amount of money is even less noticeable. I’d notice a grand a month, but 150 bucks? I don’t need that money back, but I need the services it paid for.
I suspect we would be well beyond furious if that top 10/th were broken down to show income for each percentile from 91 to 100.
💯🎯
Evil
Highest tenth gets 63% of the benefits to increase their income by just 2%. www.cbo.gov/interactive/...
$235,000 is the household income that puts you in that top tenth. $13,000 isn't a month of income at that amount. And I bet if they broke out the top 1%, the rest of the top tenth isn't getting much of those gains.
US and UK aren’t living beyond their means. It’s just that the rich are siphoning off the GDP. If they tax fairly (rich and middle class) they could both pay off the deficit. It’s obvious but those making policy /decisions protect the rich
$13k more over 10 years? It’s nothing. It’s ridiculous. Why are we doing this?
The fact the graph doesn't even TRY to scale makes it plainly obvious that the rich don't give a single solitary fuck about anyone but themselves. They likely don't even care about other rich people. They clearly aren't doing this for anyone but themselves.
A lot of the people in that top 10% are urban professional Dem voters who regularly vote to tax themselves more, and (for example) the change in the SALT cap alone will make up that difference. Where the hockey stick and moral culpability hits is once you get into the top 0.1%.
Break that down into percentiles and it’ll really piss you off.
Why do people vote against their own best interest? In case their rich someday they want their taxes low??!!!
Even if it gave everyone a boost, rising prices and health care costs and everything else are more than going to erase it. Who gives a shit about a tax cut when you can't spend it.
I had an argument with someone on this very app about taxes and they admitted they’d rather spend more money overall if it meant lower taxes than higher taxes while spending less overall due to more stuff being paid for. there’s a huge amount of Americans literally allergic to the word “tax”.
and also, allergic to helping other people to the point they’d rather spend more money themselves in order to not do it.
it goes back to racism, because racists would rather defund than racially integrate public services
To the top 10%, 13k is a rounding error on monthly earnings
Even in the other income brackets that nominally benefit, a couple of thousand dollars is gonna get more than erased by tariffs, plus extra money in my pocket doesn't do me any good if the thing I want literally can't be imported into the country because of getting rid of de minimis.
Every number like that, I automatically turn it into "How much heating oil?" (Retired schoolteacher)
Man, that we still have people reliant on heating oil is insane to me.
Right across the northeast -- older houses w/hydronic, HW baseboard, that don't have ductwork for hot air and aren't going to get it -- a lot of houses are going to burn something. Heat pumps until just a couple of years ago couldn't fill that niche, and it's a big one.
Oh, I've family who care about their oil fill ups. But it's still bonkers.
Good thing we have a program to help pay for cold climate mini-splits and another one to encourage cheap renewable electricity...[sobs]
And then putting work requirements on people for the pittance that’s left to feed their kids or give them healthcare, and $1,200 to $2,000 is way more than the child tax credit, much less any car repairs that could make most people unable to be able to get to work in most of the U.S.
Exactly.
There was no carrots! That’s what kills me, this was just a “fuck you it’s our money now” bill
What does "resource" mean in this context? Income? Disposable income? Something else? Thank you. A puzzled non-US reader.
This is especially true as food prices keep climbing
remember all the people especially children pulled out of poverty by the temporary advanced EIP payments in Biden's recovery plan?
It should be noted that that's just the damage *so far*. We've still got a lot of awful on the horizon.
The effects of the tariffs will also disproportionately impact the poor. So with tariffs the bottom 10% will see much more taken from their income
But those people in the top 0.0001 percent can't understand why it's a problem for people in the bottom 10% to lose $1200. "It's so little money, can't they just dip into their savings a little??"
For the wealthiest, only their accountant will even notice the difference.
Absolutely. And the idea that tariffs will help Americans because they can cut income taxes if the US takes in enough from tariffs, when income tax cuts for lower income people won't offset the higher prices they'll be paying. Their priority is helping the people who least need help.
yeah, most of this is going to people for whom it is a rounding error there is also likely a not-insignificant part of that top 10% that falls under "affluent blue state professionals" who are going to get fucked by other Trump policies enough to counteract whatever benefit they get from this bill
$245K in the 90th percentile. In DMV, NYC, Boston, LA, SF, Portland, Seattle metros, that is a public school teacher/local gov't employee + a engineer. They are comfortable but if they have kids, student loans, etc. they are still depending mostly on public schools, etc.
More than anything, their household income still come primarily or exclusively from wages. Stock options, etc. are not at all or a very small part of their compensation and a job loss immediately drops household income to a much lower percentile, so they won't even see the $5-6K.
It's affluence, not wealth. But it's still affluence, even if tenuous.
Would be interesting to see these as a % of annual income for each decile etc. The positive % change for top 1% would be tiny, the negative % change for bottom 10% very large
Also one of the obvious areas in which these people fail to understand successful power consolidation. Alienating people with the economic and political heft to punch back is not the stuff of remaking a society and making it stick successfully.
This has been one of the things that had just astounded me about the CEOs, especially tech CEOs, saying they are going to replace their workforce with AI. How on earth are you going to do that with the cooperation with the people whose jobs you are promising to eliminate?
They are immensely arrogant, and the worst kind of stupid, the stupid yet energetic. The stars aligning that it's the Austrian kind of fascism over the German are one of the few ways people, and society, have greater than expected odds to more or less be recognizable after.
Yeah, do they think that they'll be selling their product to? Other AI boys?
Marginal utility matters
Exactly!
Robbing children to pay for a bar upgrade on a millionaire's sex yacht
This is a chart that says, “My country’s morals were dredged up from a septic tank.”
I wonder how that $13K breaks down if you look at the top 1% vs the next 9%. I'd bet a lot of people who don't need the money will be getting much less than $13K, while the ones who need it least will get much more.
Top 10% are not concerned at all about another vacation - their entire lives are a fucking vacation. 13K is a nice tip to their private staff out of their pocket change.
I mean, it's one banana, Micah, how much could it cost? $13,000?
Death is the policy. They've already decided the bottom 50% of the country is dead weight. Each policy is designed to segregate and eventually eliminate those deemed unworthy. It's an anti-human policy. Their bullshit about greatness is really a cover for the garbage malthusian philosophy take.
