Category: Trump taxes

More Detail on Trump’s “Big, Beautiful, UGLY Bill”

On July 3rd, the House of Representatives voted in favor of the single most inhumane piece of legislation in modern American history – a budget that strips healthcare away from 17 million Americans, takes food assistance away from 3 million Americans, eliminates school meal access for more than 18 million kids, adds nearly $4 trillion to national debt, sends electricity costs surging, and substantially raises health care premiums for older adults with ACA coverage.

All for what? Just so that 84 of the wealthiest people of the world get a tax break. So Donald Trump got what he wanted. His so-called  “Big Beautiful Bill” has now become law. Say goodbye to Medicaid, and say goodbye to SNAP.

The “Big, Beautiful Bill” slashes food and health benefits for the poorest Americans, while giving tax cuts to higher earners – blowing a hole in the nation’s safety net, accourding to healthcare experts and advocates for lower-income people.

Why it matters…  Experts say the cuts could unleash a tadal wave of pain – overcrowded emergency rooms, an increase in chronic health care issues, more medical debt, and more folks going hungry.

While a handful of the wealthiest people of the world get richer, the middle class and some of the poorest people of the world will die, because they will be denied health care. So now there is “No tax on tips” which gives just a few people a break, but that provision in the bill expires in a few years. But what about “Lower taxes for the rich” because of the bill. The bill extends the 2017 tax break that Trump gave to the rich in his first term. This bill cements this tax break permanently for the rich.

What happened about “No taxes on Social Security”? That provision was pretty much cut out of the bill, even though Trump promised that he would eliminate taxes on Social Security. A tax deduction on Social Security was added, but capped at $6,000. 95% of people who collect Social Security will continue to pay taxes on their benefit.

The people still do not know what’s in a bill that the Senate and House approved of and that Donald J. Trump signed into law. The lawmakers didn’t even have time to read the whole bill. But what is known is that the rich benefit and the middle class and poor are now behind the 8-ball.

So again, let’s go through some of the highlights that will haunt the Republican party in the mid-term elections.

  • $1.1 Trillion in Health Care Cuts.
  • 17 million losing health care.
  • Medicaid will disappear.
  • Kids with disabilities and the ones needing insulin are about to loose that.
  • All government assistance, including food stamps, housing and government assistance is lost just to give a massive tax break to 84 of the richest people in the world.
  • $4 Trillion tax cut for the rich would lock in many of the 2017 tax cuts passed in Trumps first term for the richest Americans.
  • It turbocharges funding for Trumps massive deportation.
  • It begins a seismic shift in the nation’s fiscal trajectory and raises the risk of a debt crisis. The national debt rises substantially, with $3.5 Trillion to $5 Trillion added.
  • In the Quinnipiac poll, only 29% support the bill, and 55% oppose it. The lawmakers that represent their people did exactly the opposite of what the majority wanted, just so that they could please Donald J. Trump. In a Fox News poll, only 39% support the bill, and 59% oppose it.
  • This bill will damage small cities and towns, many of which are Republican strongholds. Why? Because it stops money from being destined to local hospitals, approximately 1,000 hospitals across the country. Many of these hospitals will close because of the lack of funding. These hospitals are in rural areas, where the hospital itself is one of the largest employers in the area, and people will lose jobs. Towns will file for bankruptcy. They can no longer stay solvent.

Medicaid will no longer be approved for people that do not qualify for Medicare.

The so-called fiscal conservatives fell in line with the bill. The Republican party caved in. No longer can they ever own the moniker of being a fiscal conservative. The Republican party is a joke, and they do not represent their constituents, but instead they represent Donald J. Trump, a convicted felon, a tax cheat, a fraudster and a convicted rapist.

Trump Devastation Continues in America

March 23, 2025

Well, I’m done talking about the stock markets until April 2nd. I think everyone gets the drift. Donald Trump is destroying America. Let’s talk about him!

Trump is a FRAUD.

Trump is a CON-ARTIST.

Trump is a SEXUAL-PREDATURE.

Trump is a HORRIBLE PERSON who is an IDIOT.

Trump is a COVICTED FELON who is the President of the United States.

I cannot and will not ever support such a sick individual.

TRUMP’S PLAN IS NOT WORKING !

Canada has his number. Mexico has his number. Europe has his number.  The Federal judges have his number. Even the Supreme Court has his number. Yet, he’s such an IDIOT that on April 2nd, he plans to go through with his tariff plan that will be sent to countries around the world. He will continue to be sued, and eventually SCOTUS will put Trump and Elon Musk in their place !   IT’s COMING !

April 2nd will become the NEXT big news around the world, as stocks will again crash, so hard they may even close the markets early on April 2nd. Everyone knows that Canada plans to reciprocate every added tariff that Trump puts on Canada, so it’s about to get much worse for the American consumer. Trump claims that the United States does not need Canada. But we actually do. If the markets collapse on April 2nd, watch Trump cave in and remove the tariffs he just put in effect just 24 hours earlier. He’s testing the patience of the world now, and the world will not take his bull sitting still. They will ALL fire back!

Can the economy ever recover? Trump already caused people to loose at least $5 Trillion dollars who support the stock markets. And 401K Accounts and pensions are getting raped. Medicade in on the chopping block and the future of Medicare is uncertain. There is no end in sight, except an oncoming recession, followed by a depression if the markets can’t settle down. It is inevitable.  We cannot stay on this path. So many jobs have been lost.

Trump signed an executive order to get rid of birthright citizenship. Birthright citizenship was explicitly added to the Constitution in 1868 when the 14th Amendment was adopted following the Civil War.  His action is TOTALLY ILLEGAL. But he doesn’t care because he believes his newfound executive powers of presidential immunity given by SCOTUS oversees any action that he makes as president, so he believes he now has the right, regardless of what the U.S. Constitution says. 

USAID is Gone!

Several FBI Agents are gone! Probationary Employees are Gone!

According to government data maintained by OPM, 220,000 Federal employees had less than a year on the job as of March 2024. They are gone!

The Department of Veteran’s Affairs lost 1000 temporary employees. They are gone!

The civilian workforce is heading to a 5 to 8 percent decline. GDP is no longer growing.

There has been $900 million dollars in cuts in the departments of Education services. Just gone!.

About 350 Federal Employees that maintain and guard our nuclear weapons are now gone!

The Center of Disease Control and Prevention has lost about 1300 probationary employees which is 1/10th of the agency’s workforce.

Probationary employees were also fired at public health agencies, including the National Institutes of Health, the Food and Drug Administration and the Centers for Medicare and Medicaid Services, but HHS has not released a final number.

From the Department of Homeland Security, 405 people lost their jobs, why, because they were probationary.  They are gone!.

The Internal Revenue Service will lay off thousands in the middle of tax season. They will be gone, just when you need them during tax season.

The National Parks service has laid off about 1000 people.

The Consumer Protection Financial Bureau has been shut down. Completely gone!

The Agriculture Department has been hit. There were at least 2000 Non-Fire Fighting Employees terminated.

Trump put a 90-day hold on most foreign assistance right after he was elected. All Federal Grants and Loans have been frozen as of last month.

Trump has fired 17 Inspectors General.

The Department of Justice fired at least a dozen attorneys that served in politically appointed positions that pursued prosecutions of Trump before he was president. He fired them because they tried to prosecute him!

Trump just signed an executive order to close down the Department of Education, which he has no authority to do. The U.S. Congress voted and approved the formation of the Department of Education, and he cannot get rid of it with a stroke of a pen. It can only be elimitated by 2/3 of a vote in both the U.S. House and Senate. Lawsuits are now pending. 

Now that he’s destroyed so many people’s lives, but now it’s back to tariffs. Another option can be that Donald Trump will again CHICKEN OUT and not put out more tariffs to countries around the world on April 2nd.

As an ignorant idiot and con-artist that he is, I think that even Trump will see the catastrophic damage he is causing to America, or is he just not smart enough to realize how this country is bleeding Democracy thanks to his policies and the permanent damage he is causing to people’s lives?

Canadians are told by their Prime-Minister not to visit the United States this year, and to make other vacation plans. Canadians are no longer flying the American flag next to the Canadian flag. Rather than accept higher tariffs on imports, Canada is refusing to receive the goods. They have taken American imported liquor off of their shelves. Trump is causing long-term damage to our closest friend and neighbor – Canada.

This is nothing less than a trade war that is back-firing on Donald Trump. He is becoming to be known as “The Art of the No-Deal”.

American prices are about to skyrocket. Food, fuel, merchandise from retail stores, restaurants, car dealerships, computers and utilities are now going up. The egg prices he vowed to go down are now going up. Fuel has jumped 50 cents per gallon in the last 30 days.

So this is the guy that’s going to fix the economy. In what way? I’m still trying to figure out why people thought it was broke, and now they our economy to a fraudster that has gone bankrupt many times. So many people voted for this fool.

Trump’s meme coin has absolutely crashed in the market, going from about $45.00 a share to now only $11.65 as of this post. The stock has lost billions of dollars.

He has destroyed peoples savings, the very people that have supported him to become president.

Trump was right. He said there will be “pain” before things get better. Well, the pain has arrived, and his hard supporters are also really feeling it now.

What about his media company called ‘TruthSocial’? He claims that’s his voice is the real voice of America, as he continues his con-artist skills to get people to sign up and donate money to him. He claims that he has never let people down. Really, Mr. Trump?

The stock price for Trump Media, known on the NASDAQ Market as ‘Trump Media and Technology Group (DJT) down down 40.48% in value to date in 2025, now setting at $20.25 per share, down $13.77 per share.

This is devastating news if you invest in Trump Truth Social. So in his mind, he’s not letting people down. But in his supporters minds now that have been directly affected by the markets, they are now looking at Trump in a different light.

Unfortunately, people who support Trump are realizing the hard way that Trump is not a good leader in America. Actually he belongs in prison. You cannot trust such a con-artist and convicted felon that he is. It is unimaginable to me on how SICK this specimen of a human being is. All of the billionaires are going down the dark road now, loosing money along with his followers.

Elon Musk’s company, Tesla, stock shares are now down at least 50% worldwide. The prices of the Tesla has gone up 100% in Canada. The sales of Tesla in China are just about extinct. China has their own electric vehicle made by a company called ‘BYD’ that is so much cheaper in China, that there is no competition. Exports of BYD vehicles from China to other countries is picking up big time. Even import fees to these other countries from China still make their vehicle more popular than the Tesla. These Chinese vehicles use a Blade Technology, and the Chinese have figured a way to charge their electric car in just about 5 minutes of time and there are literally millions of charging stations across the country that can handle the charging requirements of the Chinese car.

The world is about to leave America behind, Thanks to Donald J. Trump! And Americans will continue to feel the ‘pain’ long after Trump is finally gone.

Trump Threats Continue to TANK MARKETS

March 13, 2025

So what did Donald Trump’s threats cause today. Focusing on the markets, it was 100% predictable. The DOW ended the day down by 537 points, or 1.3%. The S&P 500 fell 1.39% and the Nasdaq Composite went down by 1.3%.

But Trump says that it doesn’t phase him. He indicated today that he is not going to bend on the 25% tariffs on steel and aluminum, vowing that any resulting economic disruption “won’t be very long.” His Treasury Secretary claims that Trump’s tariffs will bring back the economy. How, by some miracle?

The bottom line evident to everyone is that if Donald Trump does not start caring about the markets and peoples life savings, then the markets will continue to decline and the people will have very lasting pain. Trump says he doesn’t watch the markets, but of course that’s just another lie. In a very short period time, the markets have dropped over 4,000 points from their record highs. There are already talks about a recession. If we hit that point, not much can stop us to head towards a depression.

To me what is uncomprehensible is the fact that this country is declining from being on-top of the world economically to one of the least admired countries in the world. Many of our allies across the globe looked at America as the ‘beacon of light’ for democracy and freedom prior to Donald Trump, but now they are distancing themselves from America and the traitorous policies of Trump. Countries like Canada and Mexico feel betrayed and feel hurt.

I will concede that the Canadians and Mexicans haven’t been totally honest and reasonable regarding their taxes on products that Americans buy, but at least there was some kind of order in the past between the United States and our neighboring countries to keep the idea of free trade more than just a thought. The world seemed normal and people were accepting the world as status quo.

With Trump’s tariffs and the reciprocal tariffs, free trade is now about something that’s happened in the past. Yet, Donald Trump is trying to force the rest of the world to accept his trade practices, or else there will be a penalty to pay in the form of a tariff, when ultimately the American people will have to pay. Trump is realizing that the world doesn’t have to listen to him and they are not. Instead, they are picking other partners to trade with, leaving Trump and his America behind. Canada is now trading with the European Union, China and Japan, and for the most part is not charging a tariff on anything because these countries are not tariffing them. But Canada is now tariffing America, all because of Donald Trump.

The biggest trade problem in the world can be said in two words…

DONALD TRUMP

THE U.S. Economy Taking a Big Hit with Trump Tariffs

March 12, 2025

Today, the DOW fell again, but not before it started off in the green, slumped to almost 41,000 points, and then varied throughout the day, with a final figure below the start of the day. But, the loss today was negligible. Just .20% and just 82.55 points below the starting mark for the day of 41,350.93. The previous close was 41,433.48 on March 11.

So at least as the markets are concerned, the investors can breathe as sigh of relief, but there are still 2 days to go before the end of market close on Friday. The markets did fair today because the futures were good throughout the night, so the starting point today was higher at market open – 41,721.36. Because of the futures trading, the market began 370.43 points higher when it opened today but still couldn’t stay above water at the closing bell.

The problem is that Donald Trump created a catastrophe in the markets that will be hard to turn back or to even stop at this point. The DOW dropped over 1,500 points in just one 7 day period and even with the good start because of the futures markets, the DOW today dropped another .20% and still going in the wrong direction.  The U.S. economy will continue to reflect the pain people will experience because of Trump’s tariffs.

Trump claims that he doesn’t look at the markets. But you know that’s a lie. He watches the markets closely, but truly doesn’t understand the implications when the stocks go down and how much it affects the middle class and the poor. Within the last 30 days, the DOW has dropped almost 4,700 points. It’s known as the ‘Trump stock effect’.

Until Trump stops implementing new tariffs each week, and stops posting on X and TruthSocial the plans of his upcoming tariffs, the American people and businesses stand to loose lots of money and the economy will continue to sink.

But now the latest developments. This evening on March 12, 2025, Trump has initiated a 25% tariff on steel and aluminum coming into this country, from anywhere in the world. Now steel and aluminum prices will go up. Automobile prices will be hit and should be noticeable almost immediately. People will step back and not purchase automobiles,  because now they will feel they need to wait until prices go back down. So Trump is not done. His tool of destruction is the tariff, and with the modest drop today in the Dow Jones Industrial Average, the week will continue to be volatile. Canada and Mexico immediately retaliated this evening with reciprocal tariffs on steel and aluminum. Unfortunately the markets should continue to tank tomorrow with this news.

So the modest losses of today with the DOW will now be stepped up and the day tomorrow will be a pretty terrible day on the markets. The markets will continue to fall, and now the destruction of our economy is getting into a territory that Trump may not be able to recover from. Again, Trump is not in step with the American people and doesn’t have much regard for their well-being, as they are feeling the ‘pain’ Trump claimed would come.

Starting around February 12th, the markets started to really start tumbling in a negative direction. On the very same day, the Russian markets started to peak. Trump made announcements about his upcoming tariffs and his stance about Ukraine, which sent stocks in Russia soaring. The Russian markets haven’t been this good since the beginning of the war 3 years ago. When Trump opens his mouth and supports Putin, their markets rally.

Trump appears to be doing more for Russia’s economy than he is for the U.S. economy. Trump opens his mouth, initiates tariffs that affect Americans, and our economy suffers while the stock markets sink. There are 30 major companies represented on the DOW JONES stock exchange, and only 11 of the 30 made positive gains in the market today. So 19 companies had losses in their market shares. Trump’s ignorance is on show for the whole world to see. He is treating the U.S. economy like one of his businesses. And on this course it will also go bankrupt as did many of Trump’s businesses over the years.

I’ll report on the futures market soon, and what to expect tomorrow.