A view of the US Capitol in Washington, DC, on June 30, 2025.
Jim Watson | Afp | Getty Images
The upcoming legislation, often touted as President Donald Trump’s “big beautiful bill,” exemplifies how government caters to the wealthy, offering a plethora of new tax breaks that only serve to entrench corporate elitism. Taxpayers earning a million dollars or more are set to benefit disproportionately, enjoying an expected 3% boost in after-tax income. This figures starkly alongside the average increase of just 2.5% for every other American. While millionaires see an average windfall of $75,000 in 2026 from this bill, the average worker continues to feel the brunt of inflation and government mismanagement.
Most core provisions of the 2017 tax cuts will be extended, further entrenching the privileges afforded to the affluent. Despite promises of tax relief for all, once again, it is the small business owner and the working-class family that will bear the burden of inflated expenses exacerbated by corporate and governmental greed.
The five key changes in this misguided bill serve only to benefit high earners and the wealthy, reinforcing a system where personal responsibility is undermined by handouts for those at the top.
SALT
The Senate’s version of the state and local tax, or SALT, cap shift, is nothing short of a betrayal to everyday taxpayers. The existing cap will soar from $10,000 to $40,000 for those making less than $500,000, underscores a glaring favoritism towards blue-state elites. Originally, the Senate opposed this blatant benefit for high earners, but capitulations from House members have led to a deal that serves only the wealthy.
This legislation allows high-income earners to continue exploiting loopholes, creating a disparity that rewards those in advantageous positions over the average worker seeking to uphold traditional values of hard work and merit. While employees face higher taxes and increased costs, those in the upper echelons evade accountability.
The Senate has chosen to preserve loopholes that have already strayed too far from the principles of equality. This act of politics perpetuates a cycle favoring a select few while ignoring the struggles of those who labor day in and day out.
Insiders in the service industries, specifically those managing high-wage white-collar firms, stand to gain immensely from this legislation, effectively keeping this elite class insulated from financial pressure.
Qualified small business stock benefit
In a move that superficially champions entrepreneurship, the changes to qualified small business stock, or QSBS, inherently favor the affluent. This initiative, rooted in past administrations, ostensibly aims to boost small-business investment. However, by raising the threshold to qualify as a “small business,” the legislation serves to widen the gap between the true innovators and the entrenched corporate class. The wealthy can now shelter exorbitant capital gains, leaving everyday small business owners in the dust.
Such policy clearly prioritizes wealth accumulation over equitable growth, undermining the very foundation that should support our nation’s entrepreneurs.
Estate and gift tax
The permanent estate tax provision sends a blatant message to everyday Americans: the elite get the privileges, while the rest continue to feel the pressure of rising living costs. Increasing the exemption limits to $15 million per estate means that the affluent will continue to escape the taxes that would ordinarily support communal needs. Permanently establishing this tax shows a disregard for working families struggling to make ends meet in an economically demanding environment.
Itemized deductions
By imposing limits on itemized deductions, this bill effectively pushes aside the average taxpayer’s concerns while providing benefits largely to the wealthy. The new regulations intentionally sideline the majority of Americans who already find it difficult to navigate tax obligations amidst a rising cost of living. The net effect only magnifies the inequity between those who can leverage tax benefits and the working class.
Philanthropy
Here lies a paradox: while the legislation seeks to incentivize charitable giving among lower- and middle-income earners, it places significant constraints on the wealthy who are traditionally the backbone of philanthropy. Capping deductions and establishing new floors does not encourage genuine giving; rather, it showcases how elitist policies dismantle the incentives that drive charitable acts. The narrative of uplifting the less fortunate is overshadowed by a system that, once again, favors corporate interests over individual action.
This legislation represents a profound failure to honor the values of hard work, responsibility, and fairness. It is time to steer our policies away from the elitist tendencies of Washington and redirect focus towards ordinary Americans striving for a fair chance at prosperity.
