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Politics,Money
(@Politics Dude)
(ID: 10)
Who is Donald Trump's election good for in terms of the economy?
In his first term he lowered taxes for the rich which made him and other rich people richer while the debt grew by 7 trillion dollars due to lower tax revenue,
He put up tariffs on imports which increased costs for consumers,
He wanted to ban TikTok for outcompeting American companies like FaceBook and Twitter,
He wants to ban electric cars from China because they are expected to outcompete American manufacturers due to quality and being more affordable.
Donald Trump invests in property so he might want the prices of homes and rent to increase
Donald Trump is clearly for the rich. 78% of Americans are living paycheck to paycheck according to Payroll.org
Most can't afford to buy a house and rent is high,
Donald Trump will make these issues worse.
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view postIn his first term he lowered taxes for the rich which made him and other rich people richer while the debt grew by 7 trillion dollars due to lower tax revenue,
He put up tariffs on imports which increased costs for consumers,
He wanted to ban TikTok for outcompeting American companies like FaceBook and Twitter,
He wants to ban electric cars from China because they are expected to outcompete American manufacturers due to quality and being more affordable.
Donald Trump invests in property so he might want the prices of homes and rent to increase
Donald Trump is clearly for the rich. 78% of Americans are living paycheck to paycheck according to Payroll.org
Most can't afford to buy a house and rent is high,
Donald Trump will make these issues worse.
Politics
(@Politics Patrick)
(ID: 86)
Donald Trump's "One Big Beautiful Bill Act" has now passed the senate.
This is a step closer for it becoming law.
The Bill makes permanent Donald Trump's tax cuts from 2017 and reduces the number of people who receive Medicare. Economists believe that it will add 4.5T$ to the US debt.
The bill now needs to go to the House of Representatives where it is expected to be approved. After that President Donald Trump can sign it into law.
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view postThis is a step closer for it becoming law.
The Bill makes permanent Donald Trump's tax cuts from 2017 and reduces the number of people who receive Medicare. Economists believe that it will add 4.5T$ to the US debt.
The bill now needs to go to the House of Representatives where it is expected to be approved. After that President Donald Trump can sign it into law.
