{"id":4269,"date":"2026-08-02T12:39:50","date_gmt":"2026-08-02T12:39:50","guid":{"rendered":"https:\/\/nextaddressamerica.com\/?p=4269"},"modified":"2026-08-02T12:39:50","modified_gmt":"2026-08-02T12:39:50","slug":"while-millions-face-cuts-superyacht-sales-are-somehow-exploding","status":"publish","type":"post","link":"https:\/\/nextaddressamerica.com\/?p=4269","title":{"rendered":"While millions face cuts, superyacht sales are somehow exploding"},"content":{"rendered":"
\n

Heading into midterm season, voters are experiencing Trump\u2019s economic illiteracy first hand, even as Trump, embarrassingly, keeps blaming Biden<\/u>. If he hadn\u2019t elevated personal loyalty over professional competence when choosing his cabinet, staff would advise him that blaming a long gone<\/u> predecessor makes Trump look weak, but he did, so they don\u2019t, and here we are. <\/p>\n

Read more Inside the surrender: How Trump forced an elite law firm to \u2018bend the knee\u2019<\/a><\/p>\n

Trump\u2019s illegal<\/u> tariffs and un-strategized war in Iran have caused prices to skyrocket globally. His tariffs on essential inputs like steel, aluminum, and clean energy components have driven up operational expenses across the power sector<\/u>, raising costs that are then passed down to consumers. His war in Iran has also elevated the price of oil<\/u> energy, travel, and consumer borrowing costs. As global oil markets face increased volatility<\/u>, prices for gasoline, diesel, heating oil, airfares, and mortgage rates remain significantly higher<\/u> than their pre-war baselines. <\/p>\n

Americans are also just beginning to enjoy Republicans\u2019 \u201cBig Beautiful Bill\u201d (BBB), signed into law in July 2025<\/u> with staggered effective dates. The bill delivered the largest cuts to food assistance, health care, education programs, and student loan services in U.S. history<\/u>, in order to pay for tax breaks for the wealthy. Slashing taxes for the uber rich while cutting subsidies for healthcare and the poor, the law also hurt small businesses and farmers while benefitting large corporations<\/u>. Can you say oligarchic coup?<\/p>\n

The BBB also gave a major boost to the superyacht, private jet, and private luxury travel<\/u> sectors. Massive tax and regulatory gifts freed cash at the top, allowing the top 1% to spend their money on toys for the uber rich, like superyachts. By restoring 100% first-year bonus depreciation for qualifying \u201cbusiness assets\u201d like superyachts and jets, following the BBB\u2019s passage, demand skyrocketed as affluent buyers and charter operators rushed to utilize the tax write-off, helping superyacht sales explode<\/u>.<\/p>\n

Trump\u2019s Big Bill: Beautiful if you\u2019re rich, downright ugly if you\u2019re not<\/strong><\/p>\n

Despite clearly contracting economic indicators, Trump continues to call the affordability crisis a \u201choax,\u201d and a fake narrative<\/u> manufactured by Democrats, much to the consternation of any Republican candidate not guaranteed re-election through gerrymandering. But numbers don\u2019t lie, which may explain Trump\u2019s aversion to them. <\/p>\n

The law cut roughly $187 billion from SNAP food assistance, the largest cuts to SNAP in the history of the program<\/u>, with reductions phasing in between 2026 and 2028, after the midterms. If Democrats regain control of one or both legislative houses, Republicans, by design, will be able to blame them for the cuts Republicans passed. On food assistance, expanded work requirements, more frequent recertification, and the defunding of SNAP-Ed nutrition programs are expected to lower SNAP enrollment by an average of 4.7 million people while reducing nutrition allotments for those who remain. Economists expect these cuts to increase poverty, food insecurity, and hunger among low-income communities.<\/p>\n

On the healthcare side, over 11 million Americans<\/u> are expected to lose their eligibility for Medicaid by 2034 due to increased work-reporting requirements, shorter certification periods, and new copays for poor adults who are living at or just above the poverty line. The law cut ACA marketplace open enrollment, and eliminated special enrollment periods for low-income people. Republicans claim the cuts will reduce waste, fraud, and abuse and encourage people to work, but the cuts fall almost entirely on low-income <\/u>working<\/em><\/u><\/em> households<\/u> while the benefits accrue to higher earners.<\/p>\n

The exploding national debt is another Trump disaster. The national debt rose by a staggering $7.8 trillion<\/u> during the first Trump administration, ranking \u201cas the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration<\/em><\/u><\/em>\u2026\u201d This year, the national debt jumped past $37 trillion<\/u>, despite draconian program cuts nationwide, thanks to Republicans\u2019 out of control spending on Iran, ICE, and building a police state<\/u>, along with tax gifts to the rich. This debt is not sustainable<\/u>.<\/p>\n

Read more Family member reveals Trump\u2019s \u2018undiagnosed condition\u2019<\/a><\/p>\n

So what <\/strong>are<\/em><\/strong><\/em> the GOP\u2019s plans to address consumer prices, other than leaving the bill for our children?<\/strong><\/p>\n

Despite the obvious cause and effect of Trump\u2019s tariffs, war in Iran, Big Beautiful Bill, and overall administrative incompetence, Trump continues to blame Biden<\/u> for nearly every current economic ill. Earlier this week, Trump told supporters in Michigan that the affordability problems they were experiencing were \u201cvestiges of the Biden administration<\/u>,\u201d then devoted most of his speech to lying about what the United States could look like if \u201cDumocrats\u201d or \u201cDumbocrats<\/u>\u201d win this fall. \u201cI\u2019m one day in office,\u201d he brayed<\/u>, \u201cand the fake news goes affordability, affordability!\u2019\u201d His audience roared in appreciative laughter. <\/p>\n

Trump lacks the economic acumen to understand or care that Biden inherited a covid economic crisis in 2021, and spurred the strongest economic and labor market recovery<\/u> in modern history. With limited bi-partisan support, Biden modeled the economic recovery package of FDR with his left hand, while galvanizing NATO\u2019s response to Russia with his right. The resulting infrastructure, chips, and manufacturing initiatives had not been seen in the US<\/u> in half a century. Trump can\u2019t compete, at least not with anyone outside the Fox propaganda network.<\/p>\n

So this year, instead of addressing costs, inflation, and a faltering economy, the GOP is relying on messaging instead<\/u>, framing the Democratic Party as aligned with far-left radical agendas. Sadly, their anti-communist messaging that doesn\u2019t seem to be landing<\/u>, since most MAGA voters don\u2019t really understand what the term means, but understand that hamburger and gas now cost more. <\/p>\n

In every political debate of this midterm season so far, republicans have blamed democrats for problems they themselves have caused. Ultimately, if voters don\u2019t educate themselves, ween themselves off State News<\/u>, and turn out to vote, we will get the government we deserve. <\/p>\n

But fear not, all is not lost. Superyacht sales in the US rose by over 40% following Trump\u2019s first tax giveaway<\/u>, and continue to rise<\/u> under Trump 2.0. Surely- hopefully- eventually- someday, that staggering wealth will start to trickle down.<\/p>\n

Sabrina Haake is a political analyst and 25+ year federal trial attorney specializing in 1st and 14th A defense. She writes the free Substack, The Haake Take.<\/em><\/p>\n

Read more Donald the dealer \u2014 and the hidden fear driving Trump\u2019s ultimate reckoning<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Heading into midterm season, voters are experiencing Trump\u2019s economic illiteracy first hand, even as Trump, embarrassingly, keeps blaming Biden. 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