Suche
Mein Konto
Germany, dare more: Lessons from Trump's Big Beautiful Bill”!
US government introduces the “Big Beautiful Bill”, which includes far-reaching tax and spending reforms. A look at the effects and differences to German reforms.
Germany, dare more: Lessons from Trump's Big Beautiful Bill”!
Currently, the US government's mega financial bill, known as the "Big Beautiful Bill", is generating major headlines and heated discussions. The law, which affects taxes, government spending and border protection, has now cleared the final hurdle in the House of Representatives and will be crucial for the economic direction of the USA in the coming period. Loud ZDF The law aims to permanently extend the tax cuts from Donald Trump's first term (2017-2021).
With an estimated loss to the tax authorities of 4.5 trillion US dollars (the equivalent of around 3.8 trillion euros), the plans have come under criticism. The reforms include eliminating taxes on tips and overtime, as well as cuts to key social programs such as Medicaid and food assistance. It is estimated that these measures could cause nearly 12 million people to lose their insurance coverage within 10 years, further increasing concerns about social security. daily news points out that these cuts could hit low-income families particularly hard.
Limits of change
While the US system regularly initiates major reforms, German authorities often struggle with incomplete reform projects. For example, the much-discussed tax reform remains an unfinished project, and citizens' money also shows major gaps Picture notes. Why does the political landscape in Germany fail to make such bold decisions as in the USA? The reasons could be found in electoral law, bureaucracy and the lack of willingness to change.
Another critical point is the planned additional spending to improve national security and the military, while at the same time the debt ceiling is to be raised by five trillion dollars. Experts warn that national debt could rise by more than $3.3 trillion (€2.8 trillion) within the next ten years. The US debt burden is currently already 123% of gross domestic product, which limits the financial scope.
Criticism and resistance
Opinions on the measures are divided. While President Trump speaks of “record tax cuts” for US citizens and uses a calculator on the White House website to calculate individual tax savings, there are also clear critical voices. Chuck Schumer, a leading Democrat, called the law a “big ugly betrayal.” Even within the Republicans there is resistance; Prominent senators like Thom Tillis and Rand Paul voted against the bill.
The economic consequences of the measures adopted are uncertain. Analysts fear that the effect on economic growth will remain minimal and that the planned tariffs could further fuel inflation, which would further burden the purchasing power of the lower income groups in particular. Given these developments, not only the US government but also the entire American people are facing a fork in the road that has major economic and social dimensions.
In Germany the question arises as to whether one can learn from the decisions of the USA. More courage to change, including in financial matters, could perhaps help to reform one's own system and make the country fit for the future.