Is Three Percent Worth Destroying Mankind?

Why, Yes. Yes It Is.

Let’s talk about the coming doom- the “One, Big, Bullshit Bill’ just narrowly passed in the Senate after passing the House. There are changes, so the House will have to pass it again. (Update; they have.)

Before Trump’s Tax Cuts and Jobs Act (TCJA) of 2017, the top marginal income tax rate was 39.6%. 

The threshold for that top bracket began with single individuals with taxable income above $418,000 and is now above $600,000.

It temporarily reduced the top rate to 37%, but it expires at the end of 2025, and would revert to the top rate of 39.6% in 2026 unless Congress acts. 

So, all the hubbub is over less than 3%.

The issue is that these cuts already cost around $4 Trillion in deficit over ten years, and extending it would mean another $3 trillion at least over the next ten years. More than a quarter of US debt already comes from Trump alone.

So, in the strictest sense, the One Big Bullshit Bill doesn’t additionally cut taxes for the rich, other than continuing the current rate of 37%.

What it does to get around that is give new, higher levels to the estate tax, allowing more expenses that only very rich people are likely to have.

And, it aggressively cuts $1.1T from MedicAid and SNAP, all seen as ways of offsetting the continued lower top tax rate. And, because of the gravity of the deficit, it also triggers automatic cuts to MediCare of around $500B.

The trillion and a half they take away from food and health is not actually going to eliminate the $1.6T yearly deficit. Especially with a trillion dollar military budget and the GDP spiraling down. The tax cuts still add an additional $3T beyond the benefits cuts.

But, hold on there! A 3% net change shouldn’t be this impacting. I mean, well, should it?

But, it is, claim the oligarchs, and apparently well worth destroying the middle and lower class over. But, it’s superfluous. There was no need or benefit to cut anything.

Biden left a high and rising GDP, lowered inflation, record low unemployment, rising wages and a record stock market. More people working making more money and spending it at more stable prices. How in the hell is that bad?

Corporations were, arguably, going to continue making back that 3% and then some under Biden’s policies, even after the TCJA expired.

Even all the money spent on environmental issues would have just come into another pocket through the services it purchases. And, into the economy by generating wages, and taxes and increased spending. All of these are win-win for corporations, who get to take the tax breaks for the expenses now and reap larger margins when the work is done.

And, the corporate rate of 21% doesn’t expire, and they still have numerous new deductions in the bill. It’s literally only the rich individuals who face this measly bump.

Even with all that out in plain sight, they back the Republicans efforts to undo everything since the New Deal.

Over saving 2.6% on their taxes.

So, why do it?

A 3% hike should not bother a billionaire in the least. In fact, the only people who might have a beef are the small business owners who make between the $600k threshold and $1M income. Those levels of ‘rich’ are often physically running their company, and one could imagine 3% could make a difference to those on the low end of the top rate who are putting money into their business, or healthcare issues.

But, remember, if you make that $600k, you pay the higher rate only on the amount that goes over. So, if you net $1M, you’d have in the area of $15k +/- in added tax.

Let’s break it down as simply as we can- say if you won the lottery- 37% of $1M is $370.000. So, 39.6% - $396,000.

But, as we all know, income below that $600k threshold is calculated by each bracket, so always averages out lower than the top bracket anyways.

Still, $26,000 per million more. On money you net above $600k.

Side rant- these bastards spend that much money per year just on maintenance for their Ferrari. Aaargghh!

When you take it up the scale, it becomes even more embarrassing. At $10M, you’re looking at $260,000 more. Still chump change for $10M. At $100M, it’s still a laughable $2.6M bump.

And, remember, this is not taxes on wealth, but on income. These people are making this kind of money every damn year. Imagine only having $6.1M instead of $6.3M come in every year. Oh, the horror!

That’s not exactly the kind of savings that should make it worth booting millions of people off of food and healthcare. People tip higher % than that for a beer and a burger.

But, that’s not who is complaining, and spending money on this. The donors behind Trump and Republicans are billionaires who could spend that much on Starbucks lattes and not know it.

So, why do it?

It can’t be about the money- really. I mean, really?

But, sadly, it is. These corporations go through hoops and garters to save a half of a percent, or gain that much in the market. The scale of it is insane. Their detachment from reality makes them ambivalent at best to the damage their greed does to the world.

And the oligarchs didn’t even really have to ask this time. It’s long been known that they want the tax break to be permanent, that they want all costly regulations repealed, and they don’t want people getting money that doesn’t at least go through their mitts.

There was no need to make these cuts when the TCJA was passed and there isn’t one now. The only reason now is they dovetail with the intentional profiteering cruelty laid out in Project 2025 and being implemented by its lead author, OMB Secretary and Heritage Foundation co-founder Russel Vought.

There is no monetary savings from detaining people in concentration camps and rendering them to another country. It is a steep cost.

There is no money saved by dismissing half of the government’s staff- it just makes it more expensive to operate.

There’s no savings from shutting down the national parks, worse yet, they bring in $30B per year- likely more than all the expenses that Elon cut.

But, here’s the sad twist. Absolutely nothing in Project 2025 is financially viable. All of it costs money and reduces revenues. Slashing government services and the safety net will not offset the tax cuts, let alone the rise in government costs from their ‘policies’, I mean, crimes against humanity and the Constitution.

And the immigration war has left Kristie ‘Puppy Killer’ Noem almost out of funds for the year already, so they’re giving her an additional almost $90B more for ICE in the new budget.

It’s all about using the power of the government bureaucracy to take over the government. Ignoring the law and using the facilities for their own end.

That’s why the bill, supposedly a ‘reconciliation’ bill that is supposed to be just about budget, also holds hidden little cudgels like taking away the power of the federal courts to place injunctions or stops on presidential orders. It also forbids judges to charge the government with contempt when Trump violates a judge’s orders. I know.

It literally legalizes the cruelty, and places Trump formally above the law in all respects.

Much of it’s been stripped from the Senate version by the Parliamentarian, as have several other provisions, which is triggering discussions of overturning her. Still, a few of these poison pills have slipped in. But, as the Supreme Court just ruled that district judges can’t order nationwide injunctions, only for their own plaintiffs, it essentially has done what the bill’s injunction provision would have.

We still can’t escape the thought that the cruelty is the whole reason for any of this shit.

The cuts and new illegal freedoms for Trump will do severe damage to the economy and the well-being of the nation. The damage will be far more than the 3% tax hike would have been on the rich. Ultimately, the rich must see a bigger loss, because consumer spending power will likely go down by far more than that measly 3%.

Hell, the GDP has gone down by 3% just in tRump’s first quarter. Going from 2.5% down to -0.5% should be a great big hairy deal. It would be if it happened under a Democrat.

The rich were rich when it was 39.6%. They were rich when it was 50% under JFK. They were still rich when it was 91% under Eisenhower!

Methinks they dost protesteth too much.

Again, this belies that the hidden battle against ‘woke’ is the real game.

The tax breaks, then, are too small to be the real point. They’re the red herring. They just keep the necessary number of rich people on their side. The hidden measures that disenfranchise the poor, minorities, immigrants of color and allow tRump more freedom to break the law are much more important because they are the tools of fascist power. They’re hidden in reconciliation because they could never pass a Senate filibuster.

How about this- put everything back like it was- hire everybody back, resume payments, and keep all of our spending the same as it was during the Biden years. Just take the taxes off of tips, overtime and SSA. And, here’s the novel part- the rich actually pay the 37%! I know! High five!

Even if the rate did go down to Bush II levels, that’s only another two percent down. Hell, even 35% wouldn’t be so bad if they f-ing paid it.

The main problem is that the biggest and richest don’t pay anywhere near that 37%. Many corporations don’t pay anything at all, and that’s before we get into offshoring. Financial professionals are readily able to turn their incomes into capital gains. Corporations are. Dynastic money is. What they have to take, they pay 20% on, the rest goes into Shroedinger’s Bank and may never be seen again.

If they paid their actual tax rate on all of their true net earnings, paid their fines when they misbehaved, paid their workers well, and kept their facilities and products safe, there’d be no need to cut or raise anything, and nobody would be worried about the rich exploiting everyone.

It’s best summed up by Paul Wellstone’s famous quote- “we all do better when we all do better”.

Biden’s term proved this, raising us from Covid trauma to the best economy on the planet and lowering the deficit by hundreds of billions.

Meanwhile, all of this Trump/GOP cruelty and grifting is blowing up the deficit and the national debt, two things that Republicans harp on constantly when Democrats are in power, and seem to forget about completely when they are.

Not to mention, destroying the Constitutional rule of law and our reputation in the world.

Even spread out over ten years and delayed until 2027 so it won’t kick in until after the mid-terms, taking $100B out of the annual medical industry cashflow is going to be felt nationally. The research and grant cancellations and firings of critical staff will start that process immediately.

Tariffs, funding cuts, department closures and firings, increased spending on military immigration raids and detentions- they’re all going to start hitting us now. The government, financially, will be a chaotic whirlpool of corrupt agendas. Government services are already harder to access. Food is already rotting in the fields, on trucks and in warehouses. The fallout in the economy from all of these combined efforts will be disastrous.

And, we’re certainly not paying off a $35T debt by cutting taxes on the wealthiest people and leaving $50T in the Wall Street Casino. And, we’re certainly not strengthening our voter base by booting 16 million low-income people off of healthcare and food.

But, sure, let’s cut SNAP, MedicAid, MediCare, FEMA, NOAA, the CDC, this could take a while- USAID, USIP, Sesame Street, school lunches, arts programs, scientific grants, cancer research- fucking cancer for God’s sake……

TIWWCHNT!!

C.2025 Cousin B