Christina BorrowLucid | Chones
@borrowlucid.eth
Tryna understand OBBBA, do I have this right? So, the big beautiful bill raises inflation and national debt, while giving tax cuts to the rich, so they're gonna bet on bitcoin, because cheaper dirty energy for mining and more reliable commodity? Also, international transactions are easier in crypto, so when migrants send money home, they'll use USDC instead of Western Union?
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plor
@plor.eth
Don't get caught in the talking points, the tax cuts and national debt are because they are keeping the status quo, i.e. 2017 cuts that were set to expire. Those were not tax cuts for the rich as claimed, even the sources that would love this to be true had to admit that (ask for sources). Inflation is another matter, I'd say mostly untouched for the reasons above. A couple new things that do reduce revenue, the SALT deduction is back, which is a tax cut for rich people in blue states, as well as no tax on tips and social security.
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Christina BorrowLucid | Chones
@borrowlucid.eth
plor <3 wasn't thinking in terms of blue states, more in terms of a balanced system. How does it work? I'm having trouble balancing the system, like if we put it into something like machinations.
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plor
@plor.eth
Balance is not the right angle, there is still a giant deficit which is imbalanced to start. I only brought up blue states because SALT deductions are mostly applied there.
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