This disgusting legislation has now passed the Senate and will return to the House. Trump’s dream of transferring huge sums of wealth to the ultra rich while killing what remains of the US welfare state is nearly come true
How bad does it have to get before people realise/admit they made a mistake in voting for him I wonder?
So many people are going to get utterly fucked over, it's going to be awful.
Just as insidious is the increasing control it gives to these corporations/big businesses these ultra-rich tend to own/control. Three investment companies between them have controlling interests of over 80% of the fortune 500 companies. A lot of the rest are mainly dominated by one individual/family. These 3 companies are also the same ones buying up huge tracts of agricultural land and housing. So big they are literally unaccountable to nobody.
If this bill passes the house (and it will) it salts the ground for Republicans for years to come.
A good example is that Republican governors refused Obama’s Medicaid expansion, which led to people blaming Obama instead of the governors for not getting anything.
There’s also polling to suggest a big chunk of Americans aren’t familiar with the bill, never mind how bad it is.
yeah but it's not anything at the same now is it
it's a bill that directly destroys almost 20m peoples healthcare
I actually agree with him on this one. Perhaps by deporting him and the January 6th rioters to somewhere interesting. Siberia perhaps
Maybe worth a listen? Also a bit on Britain‘s spy network in the US. 30s /40s
Musk is upset over this, USA heDing for fiscal car crash, to be honest most Western governments are on the same course but if the USA goes tits up everybody does.
There is a huge difference between spending on public services and a social safety net, versus a big cash giveaway to the ultra rich and big business.
The most insane lie told about an immigrant so far
www.ndtv.com
'Cannibal' Migrant On Deportation Flight "Literally Ate His Own Arms"
A "deranged" cannibal immigrant allegedly began eating his own arms during a deportation flight, Homeland Security Secretary Kristi Noem claimed on Tuesday.
www.ndtv.com
There is morally but not in the eyes of the bond market/lenders. What they’re interested in is whether countries can pay the money they’ve borrowed back and if they can at current value of the pound/dollar or whether that currency value will be debased/inflated away in future….in which case they will want higher returns to keep pace
The ideological left and right both seem to struggle with this concept
The right would argue that their tax cuts will generate investment and growth which would make the likelihood of repaying debt higher. GDP outpacing debt interest making it easier to service debt.
The left may argue that by providing better health services, education etc more people can work, less relying on welfare thereby boosting GDP. Or investment in publc infrastructure, transport links etc again, helping to increase GDP. This is not happening currently in the U.K. which is why we’re in the shit in my view
The thing is Steve that this isn’t new, we have lessons from the past 100 or so years to see what happens when huge tax giveaways and financial deregulation are passed, likewise when more social democratic policies are passed.
This is an experiment that has been run multiple times with the same conclusion. The UK’s problem to me seems people wanting Scandinavian public services on US taxes
I agree with view on trumps bill and can understand why musk is fucked off
The uk is a strange one and agree, the issue we’ve got is people don’t want to pay more tax. There is also a massive reliance on hand outs though and we don’t seem to spend the money well. The numbers are frightening.
We are struggling to incorporate debt interest of £100bn+ a year into the budget. We either grow or pray that rates miraculously come down (what trumps also desperate for as well) otherwise debt is likely to spiral…..then we are likely to all see proper austerity - none of us want that*
*edit - or alternatively we go into recession, inflation falls and we print more (QE). Which is least progressive form of ‘taxation’ as everyone, especially those without assets, gets fucked
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"He said he was literally eating his own arms. That is what he did. He called himself a cannibal and ate other people and ate himself that day."The most insane lie told about an immigrant so far
'Cannibal' Migrant On Deportation Flight "Literally Ate His Own Arms"
A "deranged" cannibal immigrant allegedly began eating his own arms during a deportation flight, Homeland Security Secretary Kristi Noem claimed on Tuesday.
Somewhere between Monty Python and Brasseye!
How did that work out in reality?
Tax cuts don’t generate growth, there’s zero evidence for it. Growth is an excuse made up as to why the right want tax cuts, which is all the right ever wants as their entire political ideology is “I want to keep more money and not contribute to society”
Trump’s bill steals from the poor to give to the rich on an enormous scale. It’s both morally disgusting and fiscally disastrous.
My view has long been that prioritising health and education is most important in countries that can’t rely on abundant natural resources like the US or oil states. In this country education and training are an afterthought while the health service has been allowed to lapse into a state that its founder would have been horrified to see.
The Scandinavians have been the happiest countries in the world for some time and have higher taxes, but they get very tangible things for that in return. In the UK the cost of everything seems to soar but the money just seems to disappear into a pit.
Don’t disagree with a fair bit of that. I was trying to explain what the left and right argue and why both seem to appear to ignore the impact of bond market/cost of borrowing
The health service can’t continue to operate as it is. It’s a shambles and totally inefficient. We’re pouring more and more in and not getting the return
I read the other day that by 2036 the NHS is forecast to employ 1 in 11 people. How does that even work ?!!
. Only way out I can see is tech, AI and possibly robots In the meantime we as a country need to start taking some personal responsibility/ accountability for our health and wellbeing
After a free breakfast the first lesson of the day for schools should be a cross country run.The health service can’t continue to operate as it is. It’s a shambles and totally inefficient. We’re pouring more and more in and not getting the return
I read the other day that by 2036 the NHS is forecast to employ 1 in 11 people. How does that even work ?!!
In the meantime we as a country need to start taking some personal responsibility/ accountability for our health and wellbeing
All weathers. Let's get our youngsters fit rather than fat.
All governments whatever their supposed political alignment are borrowing all the time feeding inflation and eroding savings faster than interest rates. Do you even understand that in the UK much of the government spending goes to private companies anyway.
2025 Analysis of UK Government Strategic Suppliers
Read about who the government's Strategic Suppliers are in 2025, their roles, biggest contract wins, frameworks and more.
www.tussell.com
Fifty years ago when I was a student a pint of beer in the pub was under 20p a pint of milk was 4p and potatoes were 3p a pound, what are they now £4.50, £1 and £1 respectively, so a pound is worth around 20 times less.
Could not agree more with this. Visiting Scandinavian countries, or increasing other countries we would have in recent history deemed 'below' us such as in Eastern Europe, is like visiting a different planet. We're getting left behind and the gap is rapidly getting bigger.
At the same time we're told more and more tax is being paid yet we seem to be getting less and less. Same people being handed massive contracts over and over again but failing to deliver. What's the venn diagram of companies who keep getting rewarded for failure and companies that make large political donations?
From what I've seen of chatGPT, grok etc I am not looking to have them perform medical procedures on me anytime soon!
Haha, maybe not just yet Dave. Hopefully you won’t need their services for a while (if at all) on that score anyway
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Neither care and let’s be honest the bond market is completely irrational as shown yesterday. generally the big hits to govt borrowing are thing like Covid and war and stuff outside of manifestos. Outside of Greece and Argentina there’s no developed nations that have seriously had trouble with spending too much, it’s a boogeyman used to push policy that benefits certain people who invest in bonds. Who just happen to be super rich and therefore libertarian.
Are we sure on that, feels like freedom's are slipping away fast to me,after all the markets set the contraints?
hmmm, I’m not sure we’ve had a recent history when most developed nations were operating at 100%+ debt to gdp, with aging populations, ballooning public sector spending and after trillions already having been printed for years on end.
maybe all will be fine, maybe AI/tech will collectively drag us all out of a productivity slump and save the day. only time will tell I guess
ps keep an eye on Japan