Trump tax victory can be a poisoned cup for Republicans

Donald Trump is close to achieving a major goal of his second term with the approval of the “beautiful” beautiful tax bill by a minimal majority in the House of Representatives.

However, while Trump and his Republican allies celebrated after the draft law passed one vote early on Thursday morning, the legislation could become a poisonous cup of the president and his party.

The draft law, which extends to Trump’s tax cuts for the year 2017 before its amplitude at the end of the year and spends on the social safety network, is the risks that are seen as a gift to the wealthy people who will harm living families and alienate voters.

The broader economic and financial pitfalls can also be important: In recent days, the American treasury that has been sold again as bond investors are betting that the American financial position will deteriorate due to the exciting nature of legislation. Wharton Business School analysts say it will raise the debt rate to the US GDP from 98 percent to 125 percent over the next decade.

“Everyone spoke to him in the financial markets, and they are staring at the draft law, and they believe that it will be much more in terms of financial restraint, and they do not necessarily see this,” said Christopher Waller, the Federal Reserve Governor who was appointed to the Board of Directors during the Trump term.

Scott Beesen, US Treasury Secretary, wrote to X that the draft law will stop “historical tax increases on diligent Americans” and save “millions of American jobs.” His deputy, Michael Volwakander, added that the legislation was part of the “pro -Trip growth agenda” and aims to “strengthen our financial foundation.”

However, the Independent Budget Committee of the Federal Budget has warned that it will cost more than 3 meters during the next decade, as tax cuts will be partially compensated only by spending discounts.

“The draft law is a beating debt bomb,” said the legislator in Kentucky Thomas Massi – a Republican in the House of Representatives to vote against the legislation – in the lower room hall. He added: “Congress can make funny mathematics and fictional mathematics, if she wants, but bond investors do not do so, and this week we have sent us a message.”

Critics say that Trump officials depend on an misplaced belief that tax cuts will stimulate economic activity to the point that they will get the deficit in the United States, as previously claimed the previous republican administrations regarding the tax cuts carried out by George W. Bush and Trump during his first term.

“Since the twenties of the twentieth century, at least, politicians have been indicating that tax cuts would partially pay themselves and will not be expensive as they seem first,” said Joseph Thorndik, a tax analyst. “The argument that reduces the reward for themselves cannot be supported, whether in economic literature or historical literature.”

Richard Clarida, former Federal Reserve Ruler in Pimco, the director of the Fund, said the tariff that Trump presented this year can help cover some gap. “Even if we get only 10 percent on everything, this will continue to range between 200 and 300 billion dollars annually.”

But as many commercial negotiations continued pending the huge uncertainty on the American commercial policy course, Thorndik warned that relying on revenue fees was a very old way to manage fiscal policy.

He said: “If this is in 1896, the dependence on the definitions may be reasonable. Although until that time many people considered it unwanted.” “It should be noted that the reason behind an income tax is that people did not like definitions.”

Democrats in the House of Representatives unanimously opposed legislation-where some attacked it that it was financially reckless, but most of them invalidate it to enhance the wealthiest funds of families at the expense of medium and low-income families.

“They took a saw for the basic needs of their diligent components to help the wealthy to become richer. They will not be forgotten.”

The party’s criticism was strengthened through an analysis of the non -partisan Congress budget office on Tuesday evening, which said that the bill is likely to benefit the Americans with high density, while it is consumed to the income available for the poorer.

“The changes will not be distributed equally between families,” said Philip Sagel, director of the Central Bank of Oman. “The agency is generally estimated that the resources will decrease for families at the lowest income distribution, while the resources will increase for families at the top of the tenth.”

The Omani Central Bank expectations show that the income available for the poorest families will be 2 percent lower in 2027, mainly as a result of discounts to benefits such as Medicaid, the poor health care plan, Al -Mudhah, and Stamps in the United States. Meanwhile, the income available to the highest paid families will climb 4 percent by 2027.

In recent weeks, Trump has called for more popular measures such as the high income tax rate for the richest families, eliminating the preferential tax treatment of the hedge fund managers and private stock groups known as “reserved benefit”, and the legislators warned against not being excessively assertive.

However, the final version of the draft law, as it was passed, did not include many of these striking tax provisions on the wealthy, but it included deeper discounts to Medicaid than expected, to satisfy the militant conservatives

However, the legislation included some of the president’s best promises to the campaign from the 2024 elections, including canceling taxes on advice and government pensions for the elderly – was happy.

“Now, it’s time for our US Senate friends to reach work, and send this law to my office as soon as possible! There is no time to waste,” wrote on Truth Social.