House Passes $5Trillion Cut While Claiming It's Not for Millionaires
KEY POINTS
- ā¢The House passed the One Big Beautiful Bill Act last year, cutting over $5 trillion in taxes while slashing $1 trillion from food stamps and Medicaid.
- ā¢House Speaker Mike Johnson claimed the tax cuts were for small businesses, not millionaires, portraying them as main job creators.
- ā¢Critics argue the policy starves government revenue and favors the wealthy, undermining competition and harming American capitalism.
In a dazzling feat of selective generosity, the US House pushed through Donald Trump's One Big Beautiful Bill Act (OBBBA) last year, slicing over $5 trillion in taxes yet somehow slicing over $1 trillion from food stamps and Medicaid. Speaker Mike Johnson assured America these benevolent cuts weren't for millionaires, but for 'small business owners'āthe invisible job creators underdog story we all love, according to his heartfelt speech. Despite the $5tn glittering price tag, the act seems to favor millionaires hiding behind mom-and-pop faƧades. The consequence? The government funds disappear, middle America tightens belts, and capitalism limps, while well-off folks apparently join a secret exclusive club RSVPād by regulatory loopholes.
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(1 of 3)Nothing says 'for the small guy' like $5 trillion in tax cuts coupled with over $1 trillion ripped from the needy, all wrapped in millionaire-approved Main Street fairy tales.
When you cut $5 trillion in taxes but insist you're not helping millionaires, itās basically Monopoly money for the eliteās side hustle.
Mike Johnson claims small businesses get the love, meanwhile food stamps and Medicaid get ghostedāproving love in politics is conditional and sharply budgeted.
Source: Theguardian | Published: 8/15/2026 | Author: Eduardo Porter
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