Expert: Trump's' Beautiful Bill 'will exacerbate wealth inequality

According to BlockBeats, on May 24th, the impact on high-income and low-income families was sharply contrasted in a massive legislative proposal passed by House Republicans on Thursday. Experts pointed out that most of the financial incentives in the "Beauty Act", including tax cuts for business owners, investors and homeowners in high tax areas, will flow to the wealthiest Americans. The situation for low-income individuals will be even worse. This is mainly because Republicans partially offset these tax cuts by cutting social security programs. The non partisan federal evaluation agency, the Congressional Budget Office (CBO), estimates that due to bill adjustments, the income of the bottom 10% of households will decrease by 2% in 2027 and 4% in 2033. In contrast, the income of the top 10% of households will increase by 4% in 2027 and 2% in 2033. (Golden Ten)