I see no direct opposition to what seems to be the only thing trump believes in. Tax breaks for billionaires is treated as a fait accompli, not something that could be opposed.
When nobody is opposing anything trump does, why single out this item? Sure, it deserves opposition but so does the entire rest of his agenda.
The first thing that I think of when I hear tax breaks for billionaires is the estate tax. I wonder if Trump has any plans of abolishing it.
He seems to be willing to do damage to the country like nobody has ever seen before in order to accomplish this end.
Trump pays almost nothing by being more aggressive with tax schemes skating on, or crossing legality, than most of his economic peers dare. He may have little sympathy for oligarchs who pay more.
Trump’s feelings towards people richer than himself must be mixed at best. He will want to string them on and then throw ‘em under the bus. Putin may be advising him to jail some.
I don’t see that anything he’s done so far is about tax cuts for billionaires. All he needs to do is issue an EO that the IRS shall not audit corps or rich people and the tax laws can stay just as they are.
Now you’re right he’s doing a darn fine job of vandalizing the country. And the stock and business portfolios of the rich people in it. And the earning power of the working people in it. Ignorant vandalism has a way of collapsing the tent onto everyone’s heads.
It is just a gift to Musk and others for supporting Trump. Corporate tax is so low that I think nothing will happen. There the funding is less direct, with lobby groups supporting senators etc.
Well, technically his entire budget is about that. The tax cuts he passed during his first term are set to expire, and he wants to extend them through reconciliation, which requires cutting elsewhere (or at least pretending you are) to make them budget-neutral.
You can quibble about whether extending expiring tax cuts on billionaires is the same as actually cutting taxes on billionaires, but low corporate tax rates and a less progressive tax code are absoulutely at the core of his economic policy.
A break in what taxes? Billionaires already don’t pay anything. All that’s left is to just outright give them money.
They are claiming that the current tax rates, which haven’t yet expired, should be the baseline, so staying with that regime is free, doesn’t require cutting elsewhere. I don’t know if the Senate parliamentarian has agreed yet.
There are already so many loopholes for the rich to abuse, can their taxes really get much lower?
The Senate parlimentarian was sidelined on the issue.
But to avoid that cost, Graham said that as Budget chairman, he would use a “current-policy baseline” that considers extensions of tax cuts to be cost-free because they simply maintain current policy.
“I have determined that current policy will be the budget baseline regarding taxation,” Graham said. “This will allow the tax cuts to be permanent — which will tremendously boost the economy.”
In the modern Republican party, math bows to ideology.
And not just his, but the entire GOP. The one policy issue they’ve been consistent on, and consistently actually implementing, is tax cuts. Trump doesn’t need to “push” for them, because the entire party is in agreement on this issue.
Cutting Obamacare? Cutting Medicare? Cutting Social Security? The GOP has been talking about all those for years now, but they keep waffling because when someone confronts them directly, like Biden did in a couple of State of the Union addresses, the GOP is smart enough to know they need to pretend to not support these cuts, even as they look for an opportunity to do them.
But tax cuts? Have they ever even tried to pretend they don’t support tax cuts?