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Unleash Prosperity Hotline
Issue #1301
07/08/2025
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1) We're All Going to Die From the Big Beautiful Bill!
Leftists and the media are ramping up their attacks on the Trump tax cut bill with claims that, as House minority leader Hakeem Jeffries put it last week: "People will literally die" from the GOP work requirements. The liberal Center for American Progress ([link removed]) claims deaths will number in the "tens of thousands of Americans each year." And they add: "These estimates are not hysterical."
One liberal group ([link removed]) estimates 36 million Americans will be at risk of losing health benefits.
We're having deja vu.
They said the same thing 30 years ago when Bill Clinton and a Republican Congress instituted work for welfare requirements. Frank Lautenberg from New Jersey predicted "hungry and homeless children" would be "begging for money, begging for food" as in the streets of Calcutta.
Democrats in the House said Republicans would "have blood on their hands."
Guess what? Poverty didn't rise. Hunger didn't rise. The overall child poverty rate fell to its lowest level in decades.
Then this happened:
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The liberal Brookings Institution ([link removed]) found that work requirements incentivized people to get jobs, and 10 years later these folks climbed the economic ladder and were BETTER OFF.
But now, everyone is going to die! Again.
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2) The Committee for an Irresponsible Federal Budget Strikes Out Again
Speaking of distortion, nearly every news story on the Trump tax cut cites attacks by the Committee for a Responsible Federal Budget.
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CRFB trashed the tax cut as "the most expensive, dishonest and reckless budget bill ever."
We wonder how it's dishonest to prevent the biggest tax increase in American history. Their bizarro math says that this giant $4 trillion tax bomb they wanted to detonate on the economy next year wouldn't hurt the economy!
Speaking of dishonesty, we just want to remind folks that the "deficit hawks" at CRFB ENDORSED the Biden Inflation Acceleration Act /Green New Deal. They drank the Biden Kook-aid that this would reduce the deficit by more than $100 billion.
Instead, a new study by the Cato Institute estimates that after just two years, that law's green giveaways were on tap to cost between $936 billion and $2 trillion over the next 10 years, and between $2 trillion and $5 trillion by 2050.
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The Trump tax bill thankfully REPEALS most of those green energy boondoggles and CRFB is against that!
It's a free country and advocacy groups can say and do what they want. But CRFB has become the leading voice against supply side economic policies and it masquerades as a "bipartisan" group.
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3) Movin' Out
United Van Lines publishes data each year on where households are moving to and from.
Here are the five states with the largest exodus percentage:
1. New Jersey
2. Illinois
3. New York
4. California
5. Massachusetts
Gee, what a shock. The five states that are deep blue politically and with the highest taxes are losing people at the fastest pace.
The latest data contains some surprises. Perhaps the biggest is that West Virginia has the highest proportion of people moving in from other states (net domestic migrants). West Virginia, which by various measures is among the poorest states, is also joined with traditionally backwater states, such as Alabama (6th) and Arkansas (9th).
Delaware ranked second, at 64%, perhaps taking advantage of suburban and exurban moves from three nearby large metropolitan areas (Washington, Baltimore and Philadelphia).
United Van Lines considers states with 55% or more inbound moves as "high inbound" and those with 55% or less outbound moves as "high outbound."
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4) Headline of the Day
Who says things aren't getting better?
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5) "Tax Me More" Millionaires for Mamdani
We got a big kick out of yesterday's WSJ article quoting a bunch of mostly young Wall Street millionaires and rich corporate lawyers who support New York mayoral candidate and socialist Zohran Mamdani's pledge to raise taxes on the rich.
"In my eyes, I should absolutely be paying my fair share for the people that need it," says James Hueston, a 27-year old venture capitalist. "I don't think that he's increasing taxation for the sake of it. I think that he's doing it to fund very explicitly good policies."
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If wealthy people like Hueston think life in New York City is so inequitable, nothing is stopping them from writing a bigger check to the government so it can give more free stuff away.
The Journal notes that political perversity among New York City elites has a long history: "Tom Wolfe coined the term “radical chic” in 1970, after attending a farcically out-of-touch fundraiser for the Black Panthers at Leonard Bernstein’s 13-room duplex overlooking Central Park."
New York has the highest taxes on millionaires (almost 14%, on top of the federal 37% rate) anywhere in North America. And no city has lost more wealth.
This headline from The New York Post from a few weeks ago should give Manhattan voters pause:
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That was in just the last five years. If Mamdani wins, South Florida is going to get really, really rich.
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6) Uh Oh He's Back!
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