Reverse "Robin Hood" effects of OBBBA and Trump's Tariffs

 

The House version of “One Big Beautiful Bill Act” (OBBBA -Trump’s signature piece of legislation) would leave the poorest 10% of households $1,600 poorer and the richest 10% with $12,000 more each year.

More specifically:

  • It would cause 16 million Americans to lose health insurance, according to the Center on Budget and Policy Priorities.

  • It would lead to 4 million fewer Americans getting food stamps, according to the nonpartisan Congressional Budget Office.
    +
  • It would increase the deficit by $2.4 trillion over the next decade, according to the CBO, with the national debt already threatening to be an exploding time bomb to be shouldered by our kids and grandkids.
The distributional effects of the OBBBA are made even worse when combined with the effects of the tariffs (import taxes) being levied by Trump, as shown here:


Source: Combined Distributional Effects of the One Big Beautiful Bill Act and of Tariffs

This is a huge wealth transfer from the lower income people to the richer. If this cannot be stopped, it will and should be a huge albatross around the necks of all Republican candidates – not only those in Congress, but state and local Republicans who do not speak out against the bill.

Bottom line: Paying for food, clothing, healthcare, rent and access to education will all be more difficult for those least able to pay.

Prepared and paid for by Olson Senate Committee, P.O. Box 15, Prior Lake, MN 55372

 

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