Column: In the halls of Congress and on the canals of Venice, the new Gilded Age has a moment
The location side by side at the weekend was suitable: a big, ugly invoice in Washington and a large, cafcafi wedding in Venice.
The days of the Senate discussions on the approximately 1,000 -page legislation of President Trump and Republicans in partnership with the Revelry days. $ 50 million wedding Three -third of the world is the richest man Jeff Bezos and protected Lauren Sánchez: A surplus exhibition for a new gilded age RIGHTS AND HAVE-YACHTS. (Venice’s “Yacht Ports” All were reserved For the wedding, Bezos’s own 417 -meter “grove”, although not.)
The president was invited, Natch, but it was unpretentious. Think of the legislation of a happy double gift. Sánchez and Bezos have a lot to love by Trump Titled “One Big Beautiful invoice law” It passes through the Republican Congress. But many of Bezos’s Amazon employees and proportional customers? Not too much.
This can be the most unequal and clear reverse Robin hood budget giant. The deep Trump of 2017, which was disproportionately benefited to the rich, would be permanent and expanded on the tax deductions of Trump. Multitrillion -dollar cost will be balanced in the Medicaid program, which mostly serve more than 70 million people, health outages of approximately $ 1 trillion. Other deductions would cut clean energy projects (costing jobs and leave the future of alternative energy to China) and cutting nutritional programs for the needy. In the meantime, Trump’s new “Crocodile Alcatraz ,, paying for brutal detention centers, expenditures for immigration applications will increase about 15 times.
Bent line: About 3.5 trillion dollars additional debt For the next 10 years compared to the congress budget office.
This monster exacerbate What is it anyway Save income inequality In the United States. Within the scope of Obamacare, it will reverse the decrease in the last decade of the number of Americans without health insurance and 17 million According to the non -profit KFF, people will lose their scope. More rural hospitals dependent on Medicaid would be closed. Forget the “Minutia of Medicaid Policy” tweeted Vice President JD Vance, Hillbillies and other crushed Americans.
Health threats two Research articles have recently reported that Obamacare and Medicaid expansion has saved the lives of many low -income adults. A study Last month, the proposed interruptions found that preventive deaths could increase by about 17,000 per year. The otherIn May, it concluded that 20% of low and high -income Americans’ life of good documented inequality in the life of the lack of health insurance among lower income ones.
In other words, a so -called great bill of billing action would be a murderer.
Of course, it would be the worst. However, other identifiers are so harmful that only Trump’s death on Republicans can explain why they will vote for this political suicide package. With The surveys are so badThe 2026 midterm elections cannot come soon enough to remove the majority of Republicans in Congress and control the madness of Trump.
“The biggest transfer of reserves in American history,” in question The Atlantic of the Draft Details. “The biggest part of programs for low -income Americans so far” accordingly Budget Guru Bobby Kogan is at the American Starting Center. “Probably the most expensive legislation since the 1960s” in question Analyst Jessica Riedl of the Conservative Manhattan Institute said, “… It is digging trillions of new borrowing on top of the deficiencies that are already splashing.”
This pile could not be at a worse time.
For decades of budget experts have warned the future financial tsunami When it comes to the 2020s, the retirement Boomers will sink the economy while withdrawing from social security– Medicare and Medicaid Federal Revenues were evacuated by tax cuts. Nevertheless, republican presidents and congresses continued to reduce taxes and could not make necessary and relatively painless adjustments in the league with the democrats in the league.
And now we are here, we stab Medicaid Negative To make this and the general budget more firm more firmly, but to balance the cost More Tax cuts increase the debt by choosing wealthy.
Trump has made it clear that the most debt during a presidential period would break the first period registration (8.4 trillion dollars), Whimper on Wednesday A writing“Nobody wants to talk about growth.”
The Americans have the fiction that tax cuts pay for this fiction. Presidents Reagan, George W. Bush and Trump 1.0 claimed that economic growth would help reduce deficits by reducing tax rates for rich and companies. They were wrong. As Trump does this again and waiting for a different result, as he said, Definition of madness. George HW Bush was the only republican president who helped to reduce the vulnerabilities because he was raised Taxes as part of a balanced, two -party expenditure deduction And Tax increases – shared sacrifice, something Trump does not know anything.
Senate, Tuesday, Trump’s invoice to pass the vote, sending him back home, while sending him, the independent of Mainine Sen. Angus King was heard to shout While going to the Republican senators, “Shame for you.”
Doesn’t Trump and party slaves have no embarrassment so far?
Bezos billionaire groom in Venice also came for a little razzing. A great banner Before the three -day Bacchahanalia, the famous Piazza San Marco covered the carpet: iz If you can rent Venice for your wedding, you can pay more taxes. ”
He could do bezos, but he won’t. We went beyond the drip tax policy. Bezos, bottoms for other billionaires and all millionaires. However, we will all be exposed to stay in the evening and more than the most needy among us.
