You can thank the stock market for a diminishing federal deficit, @foxjust says (via @opinion) https://t.co/3ncU7Ipl4o ...

Hello everyone. The president wants GDP to grow 25% a year. AI job loss seems to be way overstated. We got a new way to think about the US economy transitioning. And LA public schools, they lost their minds and they proved the problem with big bureaucracies. We're live today from the desk of Anthony Pompiano. Before we get into today's episode, I need your help. My goal is to get to 1 million subscribers on YouTube. But today, today's a big day. We have 41,000 subs. Exactly. 41,000. That means that you you ...

Tariffs reduced the federal deficit and smacked the US economy with a deflationary force that was needed.The critics will never admit it, but the tariffs have been a very good economic policy decision regardless of your politics. ...

The U.S. Congress will have to approve President Donald Trump's proposal for a $2,00 tariff rebate check,. Alex Wroblewski / AFP via Getty Images Close Key Takeaways President Donald Trump's proposed tariff rebate checks may have a bumpy road to becoming a reality. Over the weekend, Treasury Secretary Scott Bessent said Trump's proposed $2,000 tariff "dividend†check would require congressional approval. However, a key member of the House of Representatives said there would be a "robust debate†over what to ...

Core Points - The IRS released important tax-planning numbers for 2026 despite a partial government shutdown, providing insights into the tax situation for Americans [1][2] - The new tax brackets and standard deduction values reflect adjustments due to inflation and changes from the Trump tax bill, with brackets adjusted approximately 2% higher for 2026 [3][4] - The One Big Beautiful Bill Act (OBBBA) maintains current tax rates, preventing a tax hike for nearly two-thirds of taxpayers, and makes permanent the income-tax brackets established by the Tax Cuts and Jobs Act [4][6] Tax Brackets and Deductions - The U.S. has a progressive tax system where individuals are taxed at increasing rates as their income rises, with only the income within a higher bracket being taxed at that rate [5] - The OBBBA introduces an additional inflation adjustment for the 10% and 12% tax brackets starting in 2026, which is expected to have a modest impact on tax bills [6][7] - The cost of the extra inflation adjustment is projected to add approximately $24 billion to the federal deficit over a decade, while extending current marginal tax rates is estimated to add $3.1 trillion to the deficit [7] Broader Implications - The OBBBA affects more than just tax brackets and rates; it also impacts deductions and tax credits, which play a significant role in reducing taxable income and tax liability [8]

Federal Deficit & Debt - Grok estimates the U S federal deficit to be $24 trillion in 2025 and $24-25 trillion in 2026 [1] - The U S federal debt is expected to increase by approximately $5 trillion in the next 2 years [1] Political Implications - Politicians did not disclose the $5 trillion debt ceiling [1]

Legislative Process & Political Landscape - The bill faces challenges in the House due to disagreements among Republican factions, including hardline conservatives and moderate Republicans [3][4][8][9][10] - The House Freedom Caucus seeks significant cuts to the bill, while other Republicans prioritize different aspects like Medicaid and green energy tax credits [6][7][8][9] - Democrats are united in opposition, highlighting potential impacts on healthcare and food assistance, and are targeting vulnerable House Republicans [21][22] - The bill's progress is indicated by movement through procedural votes, suggesting a potential breakthrough [28] Economic Impact & Policy Concerns - Analysis suggests the bill includes tax cuts for the wealthy and service cuts for others, potentially costing $3 trillion over the next decade [11][12] - Concerns exist regarding the impact on rural hospitals due to potential Medicaid cuts [15] - Economists are analyzing the effects of increased deportations on the job market and overall economic growth [16] - Reduced immigration could lead to slower job market growth, impacting the economy and exacerbating existing social security challenges due to an aging population [17][18][19][20] Key Issues & Debates - The debate centers on the level of cuts to Medicaid and access to it, with hardline conservatives advocating for steeper reductions [26] - The bill includes funding for immigration enforcement, deportations, national security, and law enforcement [15] - The Senate bill added $750 billion to the federal deficit and debt, raising concerns [7]

Healthcare & Social Programs Impact - The bill is projected to negatively impact healthcare coverage for approximately 72 million Americans relying on Medicaid [3][10] - Food assistance will be reduced for over 40 million Americans dependent on SNAP [3] - Veterans' access to healthcare may be compromised due to the closure of rural hospitals [11][12] - Planned Parenthood and other vital services are facing cuts [7] Political & Fiscal Implications - The bill utilizes an accounting gimmick to obscure the cost of extending 2017 tax cuts, effectively lowering the sticker price by $3.8 trillion [16] - The reconciliation process was used to make sweeping policy changes beyond budgetary matters [18] - The bill is expected to balloon the deficit by trillions of dollars, potentially leading to increased interest rates [7][18][19] - Public disapproval of the bill is significant, with a two-to-one opposition [13][23] Legislative Process & Transparency - The bill was drafted and revised until the last minute, with lawmakers receiving drafts with red lines as late as 4 a m [8][9] - Concerns exist that even those who voted for the bill may not fully understand its contents [8]

Tax Policy & Federal Deficit - The GOP's tax bill's potential impact on the federal deficit is a key concern [1] - The discussion focuses on why the impact of the tax bill should matter to the audience [1] Media & Communication - Bloomberg Opinion is hosting a live discussion on the topic [1] - The discussion features @skgreen, @MaryEllenKlas, and @DavidMDrucker [1]