this post was submitted on 07 Jul 2025
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[–] Dead_or_Alive@lemmy.world 4 points 1 day ago (1 children)

The Big Beautiful Bill isn’t really a tax cut. It is mostly comprised of deferred taxes. They only slashed a trillion from the budget. The rest is financed through increased debt.

The BBB will add over 3 trillion to the deficit which the public will pay one way or another.

Either higher taxes down the road, increased inflation or through higher interest rates… Most likely a combination of all three. But it will be paid.

[–] grue@lemmy.world 2 points 12 hours ago

The tax cuts for the 1% are real; it's just the ones for everybody else that are fake.