Big Beautiful Betrayal: Who Really Wins in This Budget?
This bill is not about shared prosperity. It’s a calculated set of moves: immediate rewards to the wealthy, temporary distractions for workers, delayed pain for the vulnerable, and ballooning debt.
Big Beautiful Betrayal: Who Really Wins in This Budget
The recently passed budget, the “One Big Beautiful Bill,” is being promoted as a broad-based tax relief and economic boost. But a closer look reveals a plan crafted to benefit the wealthy and large businesses, while temporarily distracting everyone else with short-lived perks. It’s less about policy, more about political timing and the real costs are staggering.
1. Who Gets the Real Benefits
The most expensive provisions in the bill deliver permanent tax cuts starting with 2025 tax filings, aimed squarely at the top tiers of earners and corporations. These include:
An increase in the cap on state and local tax (SALT) deductions, from $10,000 to $40,000, primarily benefiting higher-income households in high-tax states.
The reintroduction and expansion of business expense and depreciation deductions, favoring large firms and real estate owners.
A senior deduction. The advertised benefit impact to 85% being eligible for the deduction…64% are already tax free due to low income levels.
2. What’s Thrown to Everyone Else
To sell the bill to the public, three highly, campaigned on, “working-class relief” provisions were included:
A tax deduction for reported tip and overtime income (up to $25,000).
A car loan interest deduction (up to $10,000 annually).
A Social Security tax exemption for low- to middle-income seniors (up to $6,000).
These provisions are set to expire in 2028, aligning perfectly with the end of the current administration’s term. They start in 2025 but unlike the permanent provisions for the wealthy, these are short-term and carry less financial impact overall.
3. Political Timing, Not Economic Planning
Beyond tax provisions, the budget includes immediate increases in spending for the Defense Department and ICE starting in the 2026 federal budget. Meanwhile, major cuts to Medicaid and other public services don’t start until 2027. That means voters won’t feel the pain of these cuts until after the 2026 midterm elections, helping shield incumbents from electoral backlash.
4. The Hidden Cost: Exploding Debt
The estimated increase to the national debt is between $3.5 and $4.2 trillion, primarily due to reduced revenue and interest costs. And who earns interest on government debt? Wealthy bondholders and large financial institutions. This bill transfers future tax revenue from everyday Americans to the already rich via higher interest payments.
5. Tariffs as Regressive Taxation
The administration is also relying on tariff revenue to offset some of its cost, but tariffs are a hidden consumption tax. Lower income households spend more of their income on goods, so they bear the brunt.
This bill is not about shared prosperity. It’s a calculated set of moves: immediate rewards to the wealthy, temporary distractions for workers, delayed pain for the vulnerable, and ballooning debt for all of us. That’s not beautiful it’s betrayal by design.
George