Donald Trump doesn’t just love billionaires, he loves multimillionaires too
US tax policy deprives the government of revenue and overwhelmingly serves the interests of the richAfter the House passed its version of Donald Trump’s One Big Beautiful Bill Act (OBBBA) last year – the one that paired a $5tn-plus tax cut with $1tn-plus of cuts from food stamps and Medicaid – the House speaker, Mike Johnson, explained that “this is not giving tax cuts to the millionaires”. The beneficiaries, he said, were “small business owners” that “provide the jobs in every community in America”.Johnson was playing to the myth of the modest, sturdy Main Street job creator.
Reported by 1 outlet — The Guardian US. See all sources ↓
US tax policy deprives the government of revenue and overwhelmingly serves the interests of the richAfter the House passed its version of Donald Trump’s One Big Beautiful Bill Act (OBBBA) last year – the one that paired a $5tn-plus tax cut with $1tn-plus of cuts from food stamps and Medicaid – the House speaker, Mike Johnson, explained that “this is not giving tax cuts to the millionaires”. The beneficiaries, he said, were “small business owners” that “provide the jobs in every community in America”.Johnson was playing to the myth of the modest, sturdy Main Street job creator. It’s also the most consequential piece of BS distorting American policy that deprives the government of tax revenue, stunts American capitalism, twists regulations, thwarts competition and overwhelmingly serves millionaires’ interests.
Read the full report at The Guardian US ↗
Why it matters
A world story we're tracking; its significance and source trust firm up as more outlets confirm it.
- What's the story?
- US tax policy deprives the government of revenue and overwhelmingly serves the interests of the richAfter the House passed its version of Donald Trump’s One Big Beautiful Bill Act (OBBBA) last year – the one that paired a $5tn-plus tax cut with $1tn-plus of cuts from food stamps and Medicaid – the House speaker, Mike Johnson, explained that “this is not giving tax cuts to the millionaires”. The beneficiaries, he said, were “small business owners” that “provide the jobs in every community in America”.Johnson was playing to the myth of the modest, sturdy Main Street job creator.
- How widely is it covered?
- 1 outlet, average source rating 8.0/10.
- When was it last updated?
- just now ago.
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- Coverage card1 outlet1CoverageScouting report
Donald Trump doesn’t just love billionaires, he loves multimillionaires too
Sources1TypeCoverageThe Guardian US