Trump's One Big Beautiful Bill -- July 3, 2025

There will be a lot of articles asking the question, "who won, who lost?"

If I'm asked, my answer:

In the big scheme of things, if someone asks me who are the winners, who are the losers with this bill, this is my answer. It's very, very simple.

The big winner is the United States.

The big loser is the rest of the world.

Seriously. It's pretty easy.

Or another way to say the same thing: The big winners: those who support MAGA. -- those who want America to succeed, and widen the gap between capitalists and socialists.

The big losers: elitists and globalists. Those who hate to see America succeed at the "expense" of the rest of the world.

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Thoughts

OBBB:

• US debt: "it's a spending problem not a revenue problem"
• it's been proven, without a doubt, that human behavior defaults to living beyond one's means
• that is also true with many / most / all countries ever since the invention of the nation-state
• in the past 100 years, the US federal government has had a budget surplus in 12 non-consecutive fiscal years.
• the most recent year in which the US has a budgetary surplus: FY 2001
• wow, that was almost 25 years ago -- ancient history
  
• in CY 2000: Bill Clinton, Tom Daschle, Harry Reid
  
• another truism: those who try to reduce government spending are portrayed as enemies of the people, or worse
  
• the GOP should take a page from the Dems' playbook and worry about the US debt only in years when the government is led by the opposition party 

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More

 l

Apparently these tax cuts are in the OBBB. There is still confusion. But VDH says these tax cuts are in the bill or there is talk about these tax cuts:

• no federal income tax for the military -- being talked about
• no federal income tax for first responders -- being talked about
• no taxes on overtime -- in the bill?
• no taxes on social security (and apparently no income limits yet) -- in the bill?

So, we'll have to wait and see. But it's amazing. Even after the all 980 pages of the tax bill were read out loud in the US Senate, we still -- apparently -- don't really know what's in the bill.