HOW MUCH MONEY WILL TRUMP MAKE?
In 2024, Forbes estimated Donald Trump’s net worth at $7.1 billion.
If Congress passes his budget bill, the top 10 percent of American households - that includes Trump - will get 65 percent of its tax cuts. That’s $3.1 trillion over the next 10 years for him and the richest Americans.
WHERE WILL THE MONEY COME FROM?
Lots of that $3.1 trillion will come from government assistance programs for America’s children. About 45% of America’s kids depend on Medicaid and the Supplemental Assistance Nutrition Program (SNAP) for healthcare, food, or both. Trump’s budget leaves America’s neediest children “poorer, hungrier, and sicker.”
CARING FOLKS DON’T LIKE IT
Congresswoman Kathy Castor’s assessment of the bill says: “Children and families across America are at risk of losing affordable health coverage and access to healthy meals to pay for a massive tax cut for billionaires and big corporations.”
Congress Minority Leader Hakeem Jeffries says: “Children will get hurt. Women will get hurt. Older Americans who rely on Medicaid for nursing home care and for home care will get hurt. People with disabilities who rely on Medicaid to survive will get hurt. Hospitals in your districts will close. Nursing homes will shut down. And people will die.”
TRUMP’S BILL RAISES AMERICAN DEBT
It ups the debt ceiling by $4 trillion and enacts “hundreds of billions of dollars in cuts to Medicaid and the Supplemental Nutrition Assistance Program (SNAP). It also rescinds a series of clean energy tax credits passed by Democrats in 2022.
This year, American debt amounts to $36.21 trillion dollars. Congressborrowedthatmoneyover theyearsfrominvestors–foreignand domestic - to fund government programs. The New York Times reports if Congress adopts Trump’s budget bill, that debt will rise to “more than 113%” of the American economy.
“A fresh analysis from the Congressional Budget Office said the tax provisions would increase the federal deficit by $3.8 trillion” over the next decade, while Medicaid, food stamps and other services” would suffer from “$1 trillion in reduced spending.” The lowest-income households in the U.S. would see their resources drop, while the highest ones would see a boost,” according to the CBO. That means 20 % of Americans making over $217,000 a year will get 60 percent of Trump’s Big, Beautiful Bill’s tax cuts.
WHAT ABOUT YOU?
Bandera’s “average household income is $54,950 with a poverty rate of 13.35%,” according to the World Population Review .
Households making $35,000 or less will receive a tax cut of about $160, while those making $20,000 or less will see a slight tax increase, according to the Tax Policy Center.
That’s all millionaires and billionaires care about you.
Jodie Sinclair is an award-winning writer who holds a master’s degree in journalism from Columbia University and resides in Bandera
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