Trump Big Beautiful Bill
- Thread starter WVUALLEN
- Start date
Economic boom. It just passed.
Maybe later I'll link you to some analysis explaining in detail why this bill will mean an economic boom to both individual taxpayers and businesses.
Off the top of my head here are some immediate benefits for both
1) immediate expensing of equipment and capital expenditures for business expansion.
2) allowing small businesses to use pass through expenses for deductions on future expansions (Huge)
3) Full funding to finish border wall, hire more ICE agents to step up mass deportations of illegal ailiens
4) tax cuts for 90% of income earners
5) tax cuts on Seniors receiving Social Security....up to 4,000.00 exemptions
6) Work requirements for able bodied Medicaid recipients.
7) Funding for "iron dome" missile shield
8) No tax on overtime pay up to 25K
9) No taxes on tips up to 25K
10) Tax deductions for interest paid on new American cars, and lower energy prices especially for gasoline due to reduced regulations on domestic drilling.
So much more....Links later.
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I heard Bessent this morning on Salem News channel saying he expects 2 rate cuts this year as a result of this bill. Mostly on short term bonds.
Need to fire too late Jerome Powell.
Do you remember how bad the economy was under Obama and that toad kept interest rates near zero cause everything Obama tried was out of the stupid book. Shovel ready, cash for clunkers etc. Jerome Powell refuses to drop while there’s no reason to keep it where it is. Stupidity
When everyone was selling off stocks a few months back my investment house was urging me to buy. I scooped up some great bargains that as of today are in many cases 40% ahead of valuations when purchased! I'm waiting for my portfolio to generate HUGE income for me just before I retire in a couple of years.
Thanks DJT!
He also dropped rates for sleepy, creepy, crooked Joe when inflation was roaring about 7%. Now there is little to no inflation and he won't budge!
Deep State appratchik.
...for anyone interested
from Assist:
The One Big Beautiful Bill is designed to provide significant tax cuts for middle- and working-class families, potentially increasing their take-home pay by over $10,000 annually. It also aims to strengthen Medicaid, expand childcare access, and enhance the Child Tax Credit, making it more beneficial for families.
Who Benefits: The One, Big, Beautiful Bill Gives Seniors New Tax Relief
excerpt:
Passed at last: 6 Things to Know About Trump's 'Big, Beautiful Bill'
excerpt:
According to a distributional analysis from the nonpartisan Joint Committee on Taxation—which previously estimated the tax bill provides more than $600 billion in new tax relief to middle-class households—the largest proportional tax benefits go to workers and families making less than $50,000.
from Assist:
The One Big Beautiful Bill is designed to provide significant tax cuts for middle- and working-class families, potentially increasing their take-home pay by over $10,000 annually. It also aims to strengthen Medicaid, expand childcare access, and enhance the Child Tax Credit, making it more beneficial for families.
Who Benefits: The One, Big, Beautiful Bill Gives Seniors New Tax Relief
excerpt:
- An additional $4,000 per senior to the standard deduction will help seniors, whether receiving Social Security or continuing to work.
- A married senior citizen in New Jersey who earns tips as a taxi driver would have an additional $1,989 in his pocket from President Trump’s tax relief for seniors and no tax on tips, in addition to the expanded standard deduction.
Passed at last: 6 Things to Know About Trump's 'Big, Beautiful Bill'
excerpt:
Medicaid beneficiaries and food stamp recipients will see greater restrictions
No more subsidies for buying an electric vehicle
One Big Beautiful Bill: New Tax Relief Overwhelmingly Benefits Working Class
excerpt:According to a distributional analysis from the nonpartisan Joint Committee on Taxation—which previously estimated the tax bill provides more than $600 billion in new tax relief to middle-class households—the largest proportional tax benefits go to workers and families making less than $50,000.
Attachments
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JCT Chart_1e2lwzq3wk8fq.png -
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I want to replace the windows on my home. Using an equity line of credit if interest rates drop.
Plus you can write off the interest payments if it's a Ford, GMC/Chevy, or Ram.
Big tax deductions for anyone drawing Social Security. Medicaid comes with work requirements if you are not disabled. Medicare actually gets increased funding by closing some Obama care loopholes and restrictions on prescription medications.
The “millions” of people who will be losing Medicaid? It’s mostly tied to illegals, but the bar that was lowered under Obama and again under Biden to qualify for disability has been raised.
Good deal. I don't want to be paying my Social Security to those undeserving.
The bar needed lowered but I hope it dont destroy those who truly need it .
If you are a legal US Senior, medically indigent (unable to pay) and/or disabled, you have nothing to worry about Medicare or medicaid under the BBB.
However if you are an illegal ailien, able bodied, and/or capable of financial self sufficiency, you can expect your medicare/medicaid "freebies" from Uncle Sam to end.