LyrArc Article Gist
This is not just offering something to every group, it is rebuilding the middle class when seen in the larger context of rebuilding America's industrial base and taking  it to new heights after losing it to China under Bush-Obama 2000-2016. Under MAGA Trump inequality is tackled just differently from the way Democrats tackled it under Biden. The tax break for auto loans, interest on auto loans is deductible for taxes, is part of the new Tax Bill to appeal to auto workers. It is only applicable to US made cars and this promotes US made cars over foreign factory made cars such as the Germans and Koreans and some Japanese auto makers did before 2025. Reagan scrapped this tax break, it is back under Trump as the Republican base now includes auto workers and the now back to growth mode middle class. The deduction in local and state taxes increases to 30,000 to benefit small business owners. There is also the tax on tips which is removed. Retired people get an added $4000 deduction and not elimination of taxes on social security benefits entirely because of the Bryd rule that prevents changes to retirement with a simple majority vote not the 60 votes in the Senate.  ...

LyrArc Article Gist
The Byrd rule says Congress cannot pass changes to retirement rules in a reconciliation bill which do not require 60 votes to pass in the Senate. Using this method to get Trump's mega bill for tax cuts passed means that of DJT's promises to eliminate taxes on tips and social security only the tips one will be made into law. Congress will still give retirees a break by adding $4000 to the standard deduction for those 65 years and over. 

Social Security benefits were never taxed before 1984. In that year Reagan began taxing Social Security benefits.

LyrArc Article Gist
Krugman points out that the U.S. Federal Reserve's forecasts in March 2012 show the U.S. will experience low inflation and high unemployment for many years. These forecasts are in sharp contrast to the expectations in the equity markets based on an uptick for a couple of months of unemployment numbers. The Fed's own statements suggest the improvement in hiring may be temporary and a response to the overreaction in hiring in 2009-2010 to the financial crisis, and not a lasting improvement. The Fed pointed out that the long term unemployed are at about 40% of the total unemployed and the share of the population that is working in March 2012 has barely budged from 58% in 2009.