▲ | mandmandam 2 days ago | |||||||||||||||||||||||||||||||
And many, many reasons to think that in fact they do. See my favorites for flagged stories about the DOGE staff. Even their stated reason - to fund trillions in tax cuts for the .1% [0] - is heinous. Inequality is already breaking the economy. 4.5 trillion dollars ($13k for each and every American) being transferred to the yacht class will inflict generational harm. 0 - https://www.usnews.com/news/us/articles/2025-01-10/trump-tax... | ||||||||||||||||||||||||||||||||
▲ | AnthonyMouse 2 days ago | parent | next [-] | |||||||||||||||||||||||||||||||
> to fund trillions in tax cuts for the .1% That isn't even what your link is saying. To begin with, it's citing a Treasury Department document requested by the Biden administration to do an analysis comparing the proposed tax cuts with a contrived alternative. If you do generic across-the-board tax cuts, not targeting any particular income group, everyone's taxes are reduced in proportion to how much they were paying to begin with. Obviously then the people who make more money and pay more taxes have them reduced by the given percentage and that is a larger absolute number. The same thing happens even if you target only the brackets for people who make less money. Suppose you lower the rates by 2% for every bracket below $400,000. That's not even enough to be in the 1% (for which you'd need to make ~$800,000), much less the 0.1%, but what happens in that case? Well, everyone's taxes go down by 2% of their income up to $400,000. If you make $40,000, they go down by $800. If you make $400,000, they go down by $8000. If you make $4,000,000, they also go down by $8000, from your first $400,000 in income. The absolute amount of the reduction is still highest for people who make more money, simply because it's a percentage of higher number. The analysis the Biden administration requested was to do the tax cuts for people making less than $400,000 and then raise the tax rates on people above $400,000 to make sure they didn't get any net reduction, and their contrived example would have people making $400,000 paying a higher tax rate than people making $500,000+. Basically the purpose of the analysis was to generate a large number to put in a headline rather than compare it to a real proposal to lower taxes in general. This is also why they announced the cumulative total over a decade rather than listing the annual number as you would when comparing it against an ordinary government budget. Because "~3.5% of the budget" sure sounds a lot less than "trillions of dollars". | ||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||
▲ | Teever 2 days ago | parent | prev | next [-] | |||||||||||||||||||||||||||||||
Man it's pretty crazy seeing all those reasonable looking stories flagged and made dead. Also what's with the blue non-link links? Never seen that before on HN. | ||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||
▲ | nprateem 2 days ago | parent | prev [-] | |||||||||||||||||||||||||||||||
The Mump playbook relies on wild exaggeration. In this case Musk reckons he can save $2tn which some (better informed) analysts are saying is bollocks. In fact, it's cover to let him destroy/neuter agencies they don't like and get endless material to pressurise any opponents. One positive though: if there is any alien tech, Musky will find it. You can bet that's high on his list, as improbable as it may be. | ||||||||||||||||||||||||||||||||
|