TikToker Proposes Solution to Offset "Big Beautiful Bill" Deficit Increase

The United States is facing a potential surge in its national deficit due to the recently proposed "Big Beautiful Bill." The bill, while aiming to address various social and economic issues, is projected to add roughly $2.4 trillion to the deficit over the next 10 years, according to the Congressional Budget Office. This translates to an additional $240 billion annually. A significant portion of this increase stems from the extension of the TCJA (Trump Tax Cuts) and additional tax cuts such as those for tips and overtime pay. However, one TikTok user, Vivian Ivy (@conspiracookie), suggests a potential solution. "I say we take away the tax cuts for the top 1%", Ivy proposes in her video. She calculates that this would offset approximately 25% of the TCJA tax cuts, potentially saving roughly $1 trillion over the next decade or $100 billion annually. This, she argues, would reduce the current projected deficit increase by 41%. While the video doesn't delve into the complexities of economic modeling or the potential drawbacks of such a measure, it highlights a contrasting viewpoint to the current budgetary discourse. The debate around the "Big Beautiful Bill" and its fiscal implications is ongoing, and Ivy's suggestion provides a fresh perspective to the conversation.