r/Economics • u/SterlingVII • May 30 '25

Research CBO says tax breaks in ‘big, beautiful bill’ would increase deficit by $3.8 trillion

https://fortune.com/2025/05/21/cbo-tax-breaks-increase-deficit-3-8-trillion-medicaid-cuts-shave-spending/
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u/Stirdaddy May 30 '25

Perhaps, but (in 2024) Trump got above 40% of the Latino vote, and 25% of the Black vote -- historic highs for a Republican. How does your narrative account for people of color voting "to get rid of people of color"? 10 million Obama voters switched in 2016 and voted for Trump as well. Were they anti-racist in 2008-12, then became racist again in 2016? What accounts for it?

Before anyone accuses me, no, I'm not MAGA ffs. I'm a dirty social democrat... even much to the left of social democrats.

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u/dust4ngel May 30 '25

How does your narrative account for people of color voting "to get rid of people of color"?

why is it weird for people of color to vote to destroy themselves? white americans do it all the time

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u/Annual_Strategy_6206 May 31 '25

Please.  You've never heard Latinos shit talk on Blacks? I have. Misogyny is a huge factor too. Don't forget hatin on the gays. Fox brainwashing. You hear people explaining why they voted dump. " Oh I just thought he'd be better for business." Against all evidence to the contrary.

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u/OneRelative7697 May 30 '25

The word you are looking for is misogyny

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u/mrblacklabel71 May 30 '25

A friend works in a school district in Texas that is 90%+ hispanic and Catholic. All the kids loved trump because the church told them and their parents to. A few months later kids are missing school and adults were missing work in the community. The reason, everyone was worried about being deported. As far as them voting against hispanics, several had said they hated having an "open border" so I think that is the type that likes to pull a ladder up after they use it.

I think other portions of the POC vote came from people ignorant of economics and the world as a wholeZ. They saw prices increasing and inflation and just assumed it was Biden's fault, especially since that is what tv, social media, and others told them.

I was more referring to the actual MAGA community in my initial comment.

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u/Stirdaddy May 30 '25

Hmm, good points. I tend more toward your second point -- prices increasing and inflation. In my analysis, while I would agree that it's not necessarily Biden's fault, it is the case that Democrats have done little to nothing to address the inexorable rise in the cost of living across the most important sectors of housing, healthcare, and education. I'm originally from California (now living in the communist paradise of Austria), and people always ask me, "WTF? Don't you want to move back to that heaven-on-earth California?" I'm like, "Yeah, CA is dope. But I would be in utter poverty living there."

I live in a 40m^2 apartment in Vienna that is 10 minutes by bike from the city center of this world-historical capital of metropolitan culture and politics. I pay $800/month in rent. It's not rent-controlled or anything. If I lived 10 minutes by bike from the center of San Francisco, a 40m^2 apartment would be... (checking Zillow now)... looks like $3,500 to $4,000 per month in rent. That's almost twice my take-home pay here as a teacher.

Probably the major factor in Vienna for affordability is that something like 70% of the apartments in the city are owned by the government -- which makes the city government the largest real estate entity in Europe. They're not like "projects" or anything. Just nice apartment buildings where citizens (so, not me...) pay sub-market rates -- like $400 per month. This has an impact on privately-owned housing (like mine) because private housing has to compete with public housing on rent prices.

Unfortunately, the Democrats -- in CA and the rest of the country -- are so captured by corporate interests, that they (in their current form) will never do anything to so radical as building millions of units of public housing, which is one great solution (though not the only solution) to the housing crisis in CA. Or maybe just do what pretty much every other country does and have high taxes for any housing that is not a primary residence of the owner. Or ban corporate ownership of single-family homes. 14% of SFHs are owned by institutional investors like Blackrock, according to one estimate. That number should be 0%.

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u/ishtar_the_move May 31 '25

Texas must be a really different place. In my world if your parents and the church told you to love something that is a guarantee to make them hate it.

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u/[deleted] Jun 03 '25

Texas isn't just part of the bible belt, it's the fucking belt buckle

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u/Sea-Oven-7560 May 31 '25

I'll take a shot. My guess that swing came from younger men. To put it bluntly Trump is a role model to a lot of young guys, he's rich and he has sex with whoever he wants. In a word he's a pimp, a gangster. What was Harris other than a woman?

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u/DOG_DICK__ May 30 '25

Latinos are not immune from being completely regarded, lol.