Trump talks big, but he always backs down. He calls it the art of the deal, but billionaire’s bible the Wall Street Journal, this week a paper owned by his frenemy Rupert Murdoch no less, calls the president’s latest climbdown, “The Great Tariff Rollback.”
The Journal‘s finger-pointing headline also addressed an additional about-face: Despite his floating, and then maybe unfloating, proposals to the contrary in recent days, when the House tax-writing committee released its draft of legislation for Trump’s “one, big, beautiful bill”—extending trillions in tax cuts while shrinking government spending on health programs (and other vital initiatives)—it included a raise in the national debt limit by 4 trillion dollars rather than a raise in taxes on the rich.
The bill also reneges on other promises Trump had made regarding an end to taxes on tips, overtime and Social Security benefits.
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