Why Do Billionaires Get Tax Cuts?

June 26, 2025

I’m not a fan of the proposed tax cuts. I don’t buy that tax cuts pay for themselves. If they did, we wouldn’t have such historical high deficits and national debt. I believe we’ve been gaslighted by politicians for most of my life on this point.

I get it; there’s a debate over government spending. The logical way to handle this issue is to cut “waste, fraud and abuse” while leaving taxes at the level they are. Once spending is reduced, we can determine how much, if any, taxes can be cut. If taxes are cut, they should be cut first for the lower income folks who can most benefit from having more money to spend. Sure it would be great if I paid less taxes, but not if it means hurting people who are less fortunate. No doubt there are lower income people who “abuse the system;”. Just as there are high income people who abuse the system. That’s no reason to punish all lower income folks.

I’d love to see an opinion piece in the WSJ from a billionaire explaining why she or he deserves a tax cut.