Trump’s Tax Cuts Act: An Analysis of the Largest Social Transformation in the United States Since the End of the Cold War (Part 1)
Purpose and Background of the Bill On July 5, 2025, the Trump administration’s “Big and Beautiful” tax cut bill officially entered the implementation phase. Contrary to most media reports, this is not a routine fiscal policy adjustment, but rather the most disruptive attempt at social transformation in the United States since the end of the Cold War. Its core objective is to completely reverse the “big government + small business” development model that has persisted for half a century, shifting toward a new “small government + big business” framework that transfers the driving force of the U.S. economy from the federal government to the business and household sectors. ...