On the heels of the United States’ credit rating being downgraded, The United States House has sent President Trump’s “Big Beautiful Bill” to the Senate. This bill must die on arrival. Independent sources claim that this budget and tax bill will add 3.8 trillion dollars to America’s 36.2 trillion dollar debt over the next ten years.
As well as spending more money than the government receives from tax revenue, there are many problems with this bill. These problems include expanded tax cuts that reduce taxes on workers that earn tips.
“I am a blue collar worker. I could see reducing taxes on overtime, but many people that work for tips can make two to three hundred dollars a night – those people must pay taxes. Under this tax plan, a vast number of people in high end hospitality and certain forms of entertainment would not be taxed on their income,” said Reform Party Chairman Nicholas Hensley. “President Trump packages an idea that tips are supplemental to wages, and in some cases that is true, but people that work purely for tips need to pay their taxes. These people especially need to pay taxes when they make more than many wage-based workers.”
As well as creating a protected class of worker, Donald Trump’s tax bill codifies tax reductions for the top earners. Though the Republican majority argues that tax cuts improve the economy, Ross Perot said “Trickle down economics did not trickle down”.
