The One, Big, Beautiful tax bill - that kills the poor and pays the rich

[Trump_is_Mentally_fit]

 

[BillsFanNC]

 

[Homelander]

 

[The Frankish Reich]

So, shockingly, the bill that passed is a whole lot worse than anyone expected.

Yes, worse. 

Budget busting, complexity-increasing, special interest-favoring.

This is what they do when they have the power to do whatever they want. They become the parody of the Party of the Wealthy and special interests.

2 hours ago, BillsFanNC said:

 

Eric, buddy, weirdly no mention of No Tax on Social Security! I wonder why.

[Roundybout]

The party of “cutting debt” cheering on a bill that adds $20 trillion to the deficit through 2035? 
 

Interesting.

[Joe Ferguson forever]

https://finance.yahoo.com/news/bond-market-jitters-rise-on-narrative-shift-from-positive-tariff-news-to-mounting-us-debt-crisis-080046279.html

 

The 30-year Treasury yield (^TYX) is now trading at its highest level since 2007, climbing above 5.1% following a weak Treasury auction and renewed fiscal concerns.

The latest leg higher came early Thursday after the House approved President Trump’s sweeping tax reform package, reigniting investor anxiety over the country's worsening fiscal trajectory.

 

Edited 7 hours ago by Joe Ferguson forever

[The Frankish Reich]

Just now, Joe Ferguson forever said:

https://finance.yahoo.com/news/bond-market-jitters-rise-on-narrative-shift-from-positive-tariff-news-to-mounting-us-debt-crisis-080046279.html

True. The 30 year is at 5.1% as I write this. Borrowing costs have gone up ... a lot.

 

https://www.ft.com/content/c2dd8918-d6c1-4c60-b0d8-4959e287b11a

The 30-year Treasury yield rose 0.11 percentage points to 5.096 per cent in evening trading in New York, the highest level since late 2023, as the price of the bonds fell. It extended its rise to 5.12 per cent after the bill passed the House of Representatives by a single vote, up more than 0.2 percentage points this week.

[Joe Ferguson forever]

4 minutes ago, The Frankish Reich said:

True. The 30 year is at 5.1% as I write this. Borrowing costs have gone up ... a lot.

 

https://www.ft.com/content/c2dd8918-d6c1-4c60-b0d8-4959e287b11a

The 30-year Treasury yield rose 0.11 percentage points to 5.096 per cent in evening trading in New York, the highest level since late 2023, as the price of the bonds fell. It extended its rise to 5.12 per cent after the bill passed the House of Representatives by a single vote, up more than 0.2 percentage points this week.

where's @sherpa when you need him?  He's probably not interested now.

[sherpa]

20 minutes ago, Joe Ferguson forever said:

where's @sherpa when you need him?  He's probably not interested now.

 

No, I'm always interested in the markets.

[Big Blitz]

3 hours ago, Trump_is_Mentally_fit said:

 

 

Lol how about now?

 

The markets have already been operating under the assumption the tax cuts were going to pass.  Since Trump won.  

[Roundybout]

4 minutes ago, Big Blitz said:

 

Lol how about now?

 

The markets have already been operating under the assumption the tax cuts were going to pass.  Since Trump won.  

Thoughts on the bonds being above 5%?

[Big Blitz]

3 minutes ago, Roundybout said:

Thoughts on the bonds being above 5%?

 

Need Democrats to agree we need to make serious cuts to government spending.  
 

Need the American people to understand we can’t have everything.  
 

 

Start with deporting.  Cutting off the fraud and abuse of our entitlements.  Find a mainstream media outlet that’s not on life support and still reaches the brain dead in this country with information actual facts on why this is unsustainable and that cuts are not a disaster where grandma gets pushed off a cliff.  
 

[Roundybout]

13 minutes ago, Big Blitz said:

 

Need Democrats to agree we need to make serious cuts to government spending.  
 

Need the American people to understand we can’t have everything.  
 

 

Start with deporting.  Cutting off the fraud and abuse of our entitlements.  Find a mainstream media outlet that’s not on life support and still reaches the brain dead in this country with information actual facts on why this is unsustainable and that cuts are not a disaster where grandma gets pushed off a cliff.  
 

We absolutely can have everything. You should read Abundance by Ezra Klein. 

[Joe Ferguson forever]

17 minutes ago, Big Blitz said:

 

Need Democrats to agree we need to make serious cuts to government spending.  
 

Need the American people to understand we can’t have everything.  
 

 

Start with deporting.  Cutting off the fraud and abuse of our entitlements.  Find a mainstream media outlet that’s not on life support and still reaches the brain dead in this country with information actual facts on why this is unsustainable and that cuts are not a disaster where grandma gets pushed off a cliff.  
 

The R's have the house, senate and presidency and they put forth a bill that would add trillions to the deficit while cutting services.  They have no excuse and neither do you for supporting them.

[sherpa]

49 minutes ago, Roundybout said:

Thoughts on the bonds being above 5%?

 

I'm not sure if you're a trader or financially aware, but it was very easy to get yields above 5% during the last administration.

I do all the financials stuff for the local vol fire co., and had two CD's above 5.4% "called" after the election.

Having a CD called is quite rare.

We have our last cd purchased at 5.3% maturing on the 29th. It was purchased well before Jan 20.

 

[Joe Ferguson forever]

1 hour ago, sherpa said:

 

I'm not sure if you're a trader or financially aware, but it was very easy to get yields above 5% during the last administration.

I do all the financials stuff for the local vol fire co., and had two CD's above 5.4% "called" after the election.

Having a CD called is quite rare.

We have our last cd purchased at 5.3% maturing on the 29th. It was purchased well before Jan 20.

 

were talking about the 30 year T bill.  Its yield hasn't been this high since 2007.  It's rise has serious implications

 

Since bond prices move inversely to yields, rising yields indicate investors are selling bonds. This behavior runs counter to the typical flight-to-safety response during market turmoil and has fueled worries of a broader "sell America" trade.

Wall Street analysts say the volatility reflects a shift in investor sentiment as recent optimism around trade developments gives way to renewed concern over the nation’s ballooning debt.

And while markets initially shrugged off the credit downgrade, analysts caution the bond market isn’t out of the woods, pointing to rising fiscal uncertainty and stubborn inflation as key factors likely to keep long-term yields volatile in the short run.

[sherpa]

1 hour ago, Joe Ferguson forever said:

were talking about the 30 year T bill.  Its yield hasn't been this high since 2007.  It's rise has serious implications

 

Since bond prices move inversely to yields, rising yields indicate investors are selling bonds. This behavior runs counter to the typical flight-to-safety response during market turmoil and has fueled worries of a broader "sell America" trade.

Wall Street analysts say the volatility reflects a shift in investor sentiment as recent optimism around trade developments gives way to renewed concern over the nation’s ballooning debt.

And while markets initially shrugged off the credit downgrade, analysts caution the bond market isn’t out of the woods, pointing to rising fiscal uncertainty and stubborn inflation as key factors likely to keep long-term yields volatile in the short run.

 

It's a bond, not a bill, as I have mentioned in the past.

What is being forwarded, seemingly, as some kind of cause for concern is about a 35 basis point rise in the bond yield.

This is normal market stuff, and nothing to be concerned about.

That is not to say that gov spending in the US market is not a concern. It definitely is.

It has been since the goofy stimulus package that started out as "build back better," and ended as the idiotically named "inflation reduction act."

There is no future in guessing that either side is fiscally prudent.

 

I think the Republicans are far better, but we are where we are.

[Albwan]

IMO the poor welfare people will eventually have to be thrown under the bus. 

It's either that or flat out bankruptcy.

[TH3]

20 minutes ago, sherpa said:

 

It's a bond, not a bill, as I have mentioned in the past.

What is being forwarded, seemingly, as some kind of cause for concern is about a 35 basis point rise in the bond yield.

This is normal market stuff, and nothing to be concerned about.

That is not to say that gov spending in the US market is not a concern. It definitely is.

It has been since the goofy stimulus package that started out as "build back better," and ended as the idiotically named "inflation reduction act."

There is no future in guessing that either side is fiscally prudent.

 

I think the Republicans are far better, but we are where we are.

It’s not normal market stuff

[sherpa]

1 minute ago, TH3 said:

It’s not normal market stuff

 

OK.

35 basis points on a 30 year bond is not normal?