GXED(SH:600617) Sou Hu Cai Jing·2025-07-08 09:16Core Points - The article discusses the implications of Trump's recently signed "Big and Beautiful" bill, which has sparked significant public protests and criticism regarding its impact on income inequality and economic policies [3][6][10] - The bill is criticized for exacerbating wealth disparity, with the top 10% of earners benefiting significantly while the bottom 10% face substantial losses [10][12] Economic Impact - The "Big and Beautiful" bill includes a corporate tax cut of 14 percentage points and a personal income tax reduction of only 2.6%, alongside cuts to social welfare programs [10][12] - The Congressional Budget Office (CBO) estimates that the lowest income households will lose approximately 10,000 RMB annually, while the top earners will gain up to 12,000 USD, highlighting the widening wealth gap [10][12] Public Response - Protests erupted on July 4th, traditionally a day of independence, as citizens expressed dissatisfaction with Trump's policies, particularly regarding poverty and economic inequality [6][8] - The protests reflect a broader discontent with the current administration's handling of economic issues, leading to calls for change [6][8] International Relations and Technology - The article warns that Trump's policies may inadvertently support China's rise, particularly in renewable energy and technology sectors, as the U.S. lags behind in these areas [12][14] - Concerns are raised about the restrictions on the battery industry and U.S.-China cooperation, which could hinder American companies' innovation and competitiveness [14][16] Notable Figures - Thomas Friedman criticizes Trump's approach, suggesting it fails to recognize the future trends in global technology and energy, potentially allowing China to take the lead [12][16] - Elon Musk is mentioned as a prominent critic of the bill, although he has not taken significant action against it despite previous conflicts with Trump [16]