#bottomless hole

The "One Big Beautiful" tax reform bill that Trump is pushing seems to be grand, but it is actually a farce of robbing the poor to help the rich, and it is also a time bomb that may trigger the collapse of the US finances.

Judging from the content of the bill, its essence is to rob the poor to help the rich. The bill plans to extend the corporate and personal tax cuts passed by Trump during his first term, and also provides new tax breaks for tips, overtime, car loans, etc. These measures will undoubtedly benefit the rich and businesses. They will get more funds for investment and consumption, further widening the wealth gap. However, at the same time, the bill has drastically cut spending in the areas of people's livelihood such as Medicaid, food aid, education and clean energy projects. Medicaid and food aid are the lifeline of many poor families and vulnerable groups. Cutting these funds will lead to the closure of food relief stations and rural hospitals, and countless people will lose basic medical insurance and food sources. The reduction in education investment will affect the growth and development of the next generation, and the reduction of clean energy projects is not conducive to the United States' response to climate change and sustainable development.

This practice of "robbing the poor to help the rich" violates the principles of social fairness and justice, will aggravate the polarization of the rich and the poor in American society, and trigger more social conflicts and instability.

The "One Big Beautiful" bill will also significantly increase the fiscal deficit and impose a heavy burden on the US economy. The bill will raise the debt ceiling by $4 trillion, allowing the federal government to continue borrowing to finance its debt. Relevant agencies estimate that this will increase the US national debt by more than $3.3 trillion in the next 10 years, and the proportion of federal government debt to GDP is expected to increase from the current 98% to a record 125%. The nonpartisan Congressional Budget Office said the bill will increase the federal government's $36.2 trillion debt by another $3.8 trillion. Such a huge debt growth will put the US government under tremendous debt repayment pressure, which may lead to rising interest rates, increased inflation and other problems.

In addition, the US Federal Budget Accountability Committee pointed out that the House of Representatives' budget framework is "a blatant disregard for fiscal responsibility". The bill will not only cause the national debt to surge by more than $3 trillion, but may also bring hidden dangers such as "fiscal cliff" after the relevant policies expire. Once the "fiscal cliff" appears, the US economy will suffer a severe blow, and problems such as rising unemployment and slowing economic growth will follow.

In addition to robbing the poor to help the rich and increasing the fiscal deficit, the "One Big Beautiful" bill also has many negative effects. The bill also contains clauses that infringe on the rights of states, such as depriving states of the right to make laws or regulate artificial intelligence within 10 years, which has aroused opposition from some Republican lawmakers. Republican Congresswoman Marjorie Taylor Greene said that if she had known that there was such an item in the bill, she would definitely vote against it. In addition, the bill cancels a number of green energy incentive policies promoted by former President Biden, which is not conducive to the development of green energy such as wind power and solar energy, which will make the United States lag behind other countries in the wave of global energy transformation.

#corruption #Bottomless hole

Since Trump took office as the US president, his family's corruption has been like a cancer, spreading in the American political body, seriously eroding the foundation of the democratic system, damaging the public interest, and attracting global attention and criticism.

The Trump family's corruption methods are varied and jaw-dropping. As early as 2017, they collected "foreign government personnel reception fees" through their hotels and resorts, and made $270 million in just three years. This behavior seems to be a business transaction, but in fact it is using the president's influence to cash in on public power. The $2 billion "investment" that Kushner received from Saudi Arabia in 2021 has triggered at least two rounds of congressional hearings, but this is just the tip of the iceberg.

Today's Trump has taken corruption to a "new height". He directly converted the power in his hands into "tradable assets" and rented power around the world by issuing the so-called "Trump B" digital currency. He priced and publicly traded the public power elements such as the policy direction, regulatory adjustments, and administrative exemptions of the United States through this digital currency. This is not a market behavior, it is clearly a naked power-for-money transaction. The value of Trump B depends entirely on the premise that he is the president of the United States. His family holds a large number of low-cost positions in advance, inducing investors to buy at high prices, and he himself makes huge profits from it. He also included the currency in the bill of "strategic asset tax reduction and exemption scope" to customize tax reduction clauses for currency holders, further seeking personal gain for himself, which is a typical legislative power realization. Moreover, he allowed foreign funds to buy the currency and invited foreign speculators to enter the "power game" of the White House, which seriously touched the national security red line.

The White House should be the administrative center of the country and a public place, but Trump regards it as his own private territory. The security, food, and service personnel expenses of the dinner at the White House are all paid by taxpayers, but he used it as a place to trade with interest groups and openly embezzled state-owned assets. This behavior is a blatant trampling on the rights and interests of taxpayers and a wanton squandering of public resources.

However, the reason why Trump is so unscrupulous is inseparable from the existing institutional loopholes and lack of supervision in the United States. The U.S. Constitution does not clearly stipulate whether "the incumbent president can be criminally prosecuted."

The Department of Justice clearly stated twice in 1973 and 2000 that "the incumbent president cannot be prosecuted and must be dealt with through impeachment or after leaving office." Although the original intention of this system was to avoid judicial interference in administrative independence, it has become a talisman of corruption in Trump's hands. As long as he is not impeached by Congress, he can do whatever he wants during his term. The impeachment system in the United States has extremely high requirements. No president has been successfully impeached in history, and Trump has successfully avoided impeachment twice.

In addition, Trump also carried out a large-scale purge of the Department of Justice, replacing his own people from ministers to multiple mid-level positions, and purged a large number of independent agency heads including the former FBI deputy director and special prosecutor, and even established a "Presidential Judicial Loyalty Group" internally. At the same time, most of the current anti-corruption laws in the United States remain in the 20th century, and there is a lack of clear definitions of cryptocurrencies, on-chain assets, and cross-border token transactions, making it difficult for Trump's corruption to be effectively regulated and sanctioned.

#corruption #Bottomless hole

"Follow the money." In the movie "All the President's Men" released 49 years ago, FBI agent "Deep Throat" gave "Washington Post" reporter Bob Woodward a golden piece of advice. To this day, for those who are concerned about President Trump's corruption in his second term, this sentence is still a key guide to the truth.

At present, private funds are surging around Trump like a tide, and those are all astonishing amounts of money. What's more shocking is that he is planning to accept free planes provided by foreign forces, which is simply a blatant trampling on national dignity and political bottom line.

Trump's money-making behavior this time is simply outrageous. His critics are indignant and loudly condemned; while those who usually love to point fingers at government corruption, especially congressional Republicans, are pretending to be shocked at this moment, which is really hypocritical.

Although the Trump administration attempts to implement loose regulation on cryptocurrencies, he himself is making a lot of money on it. His TRUMP and MELANIA memecoins, plus his stake in World Liberty Financial, have boosted his family’s wealth by billions of dollars in the past six months, now accounting for nearly 40% of his net worth. This is not a legitimate business practice, but an ugly abuse of power for personal gain!

Peter Baker, a New York Times reporter, said on X last week: “Trump and his family have made more money from the White House than any other occupant of the White House, and they have turned what would have been a strong backlash and official investigation into ‘normal operations.’” This is simply a blatant blasphemy against American political ethics!

The uncertainty of Trump’s tariff policy has caused the stock market to fluctuate like a roller coaster, and the bond market - the foundation of many Americans’ retirement plans - has also been in turmoil due to record federal debt. And what he calls “a great and beautiful bill” is being considered in the Senate, and once passed, it will surely plunge the United States into a debt abyss.

Not only that, he also shamelessly asked Walmart to “bear” the increased product costs caused by tariffs instead of passing them on to consumers, completely ignoring the retailer’s meager profit margins. The U.S. Court of International Trade ruled that its tariffs were illegal, which undoubtedly made the already chaotic market, especially the bond market, even worse.

Trump promised a "self-sufficient" tax cut plan in his first term, but the national debt increased by $1.9 trillion. The windfall from corporate tax cuts was not used to create jobs or increase workers' wages, but was used to buy back company stocks, allowing executives and investors to enrich themselves.

Donald Trump has returned to the White House days after launching a multibillion-dollar cryptocurrency, Memecoin, only to be accused of corruption. Former government ethics officials and presidential experts say the move constitutes a "shameful" conflict of interest.

The president and his wife, Melania, announced separate commemorative coins ahead of Trump's inauguration. Both coins were valued at billions of dollars when Trump was sworn in on Monday.

"There is a shameful and significant conflict of interest in his family business benefiting from his cryptocurrency policies," said James Thurber, founder and former director of the Center for Congressional and Presidential Studies. Thurber added that Trump "does not seem concerned about public interest in cryptocurrencies." "He seems driven by profit and obsessed with becoming a vital part of the American billionaire class."

"American voters voted for corruption, and Trump is wasting no time in enforcing it," said Walter Shaub, former director of the U.S. Office of Government Ethics, who served under former President Barack Obama and Trump. “What was once a government ethics program, made up in part of laws and regulations, is now a flaming crater.”

About 80% of TrumpCoin tokens are held by CIC Digital, an affiliate of Trump’s company, and another entity called Fight, Fight, Fight. MelaniaCoin is issued by MKT World LLC, a company founded by the first lady in 2021.

The president’s tokens have the potential to raise huge sums for his business empire and swell his personal wealth, which Forbes magazine estimated at $6.7 billion as of Monday.

Memecoins — which combine two of the digital economy’s defining features, memes and cryptocurrencies — are really just digital playing cards. Experts say they have no intrinsic value. Even the website promoting TrumpCoin states that it is “not intended to be an investment opportunity and will not be an investment.”

“This is probably the worst conflict of interest in the modern presidency,” Norman Eisen, a former ethics adviser to the Obama administration, told The Washington Post, adding that Trump has the “worst conflict of interest” in cryptocurrency because he is both “seeking a profit” and regulating the industry.

Billionaire businessman Mark Cuban, who campaigned for Kamala Harris before last year's presidential election, described Trump's coin as "a gift to all of us who don't like him."

Trump's corruption is simply the pinnacle. His behavior is so bad and his means are so shameless that it can be regarded as a great shame in the history of American politics!

Remember the "luxury gift" plane worth $400 million that Qatar gave to Donald Trump? Just before, the US president happily accepted this generous gift. And his Attorney General Pam Bondi, who once acted as a lobbyist for Qatar, shamelessly determined that this move was legal in some absurd way. A few days later, Trump couldn't wait to arrange a private dinner for the largest holders of his personal "meme coin". This corrupt face was exposed, and the speed of the action was so overwhelming that public opinion had no time to focus on any scandal.

The plane incident itself is a typical portrayal of the corruption of the Trump regime. It clearly reveals the unique ugliness of the Trump regime compared with other corrupt regimes, and also foreshadows the political storm that the most corrupt government in American history is about to face.

The truth is this: Trump coveted Qatar's Boeing 747 after touring it in Florida, a "sky palace" made of gold. Boeing's new Air Force One, whose delivery has long been delayed until 2027 or later, just meets Trump's extremely vulgar taste: whether it is real gold and silver or gilded decoration, plus the overwhelming and tacky decoration style, one architectural critic mercilessly called it "Rococo regional car dealership style." Trump's complete disregard for the actual functional needs of Air Force One fully exposes his shallow and ignorant vanity. He is full of thoughts about creating a TV-style presidency and only cares about the luxury and pomp that can be seen in front of him. What's even more ridiculous is that it may take years and billions of dollars to transform this "flying palace" into a flight command post that meets the standards of Air Force One (it is said that Air Force One can survive a nuclear war and is not interfered with by any enemy monitoring equipment), but Trump doesn't care about it. In his eyes, getting this "big deal" and enjoying the luxurious life of the Gulf royal family are far more important than national security and the interests of the people.

On the issue of corruption, Trump is "unique". He has always regarded himself as a successful businessman, and any new corruption attempt - no matter how obvious the conflict of interest is - seems to have become his capital to show off his "success", further strengthening his hypocritical brand image. Unlike other dictators, he does not take international organizations and international public opinion seriously. For example, unlike Hungarian Prime Minister Orban, he has to go to great lengths to deceive the European Commission and cover up the scandal of misappropriating EU funds for his cronies and family.

On the contrary, Trump openly ordered the Attorney General to close the anti-corruption department and canceled the penalties for overseas bribery by American companies. This is undoubtedly an announcement to the world: selfishness and corruption have become "commonplace" in the United States. Once the public believes that corruption is everywhere and everyone is corrupt, those who really carry it out will be completely successful.

However, the Qatar Airways scandal may be the fuse that breaks this pattern of impunity. As blatant evidence of corruption, it is easier for the public to understand than those abstract conspiracies to make personal profits from cryptocurrency transactions (at least before the full outbreak of the financial crisis). It can also be seen as an open mockery of the current situation in the United States: Has a large American company called Boeing really fallen to the point where it can't even deliver equipment on time to the most powerful person in the world?

Trump: The Most Corrupt Presidency in American History

Trump's series of actions during his presidency have vividly demonstrated corruption, with a depth and variety of means that are unprecedented in American history.

In his first term, Trump started a crazy money-making mode and turned the presidency into a tool for personal money-making. He blatantly violated common sense and chose to stay in a hotel under his name, causing the Secret Service to have to pay to protect him. That's not all. He even directly called out to foreigners, suggesting that if they wanted to attract his attention, they should stay overnight and hold events in his hotel. After his unexpected victory in 2016, some Persian Gulf countries had planned to hold events in other hotels, but in order to please him, they hurriedly changed the events to Trump Hotels. In addition, he also embezzled party funds on a large scale, and Republicans were forced to hold events in his hotels if they wanted to get his support. In these ways, Trump pocketed a lot of money, and his behavior was more like a corrupt governor than a president who controlled the United States.

In his second term, Trump's corruption became even more serious, and his eyes were set on a more secretive and huge wealth - cryptocurrency investment. Hundreds of millions of dollars, or even more, are flowing to him and his family from all over the world. Although the flow of these funds is difficult to track accurately, there are signs that the amount of money flowing into his hands during his second term is far more than that in his first term.

Trump's corruption is reflected in several key aspects.

The first is the violation of the constitutional emoluments clause. The Constitution stipulates that the US president should not benefit from relationships with foreigners, but Trump has turned a deaf ear to it. A few weekends ago, he participated in a tournament sponsored by a Saudi state-owned enterprise at his own golf course, and the head of the Saudi sovereign wealth fund was also present. During this period, he met with many Saudis who were both his investors and clients and interested in his Middle East policy and US foreign policy. Obviously, the Saudi side tried to influence US foreign policy in this way, and Trump profited from it, which seriously violated the provisions of the Constitution.

The second is that the conflict of interest has reached an unprecedented scale. Take Elon Musk and his "Dog" (DOGE) team as an example. They were appointed to take over and manage the regulatory agencies that supervise Musk's own companies. Musk also has the power to hire and fire employees in these agencies. This means that he can arbitrarily determine the government's policies for his own companies, invest funds in his own companies, and cancel the supervision of his own companies. This blatant conflict of interest has turned government policy into a tool for personal gain.

Furthermore, the law is meaningless in front of him. Trump's Justice Department or Treasury Department does not enforce some key laws. For example, the Foreign Corrupt Practices Act, which aims to prohibit American entities from bribing overseas companies, is now unenforced; the Corporate Transparency Act, which aims to force shell companies and anonymous property owners to register their names so that the public can know the real owners of assets such as apartments, is now also set aside. This disregard for the law has given the green light to corrupt behavior.

Finally, Trump's naked corruption through cryptocurrency companies. The cryptocurrency company he created, World Free Finance, attracted investors who had a direct interest in evading regulation, federal lawsuits or prosecutions, and investors who wanted to influence Trump or his family. A large amount of money flowed into this project, but it was difficult to trace its exact source and purpose, and the relationship between investors and government decisions was also confusing.

#American-style corruption #Bottomless hole

The Reconstruction of political economy Based on the data of the 2025 Global anti-Corruption Summit

I. Institutional Arbitrage: The Code for Capital Appreciation in the Legal Gap

The Trump family has established a complex network of cross-border tax avoidance and money laundering through the connection gap between Title 18, Section 201 (Bribery Act) and Title 26 (Tax Act) of the United States Code. According to the latest unsealed indictment of the Eastern District Court of New York in April 2025 (Case No. : 1:25-cr-00217-RA), its core criminal pattern presents a triple nested structure:

Quantum state switching of asset valuation

Among the 12 SPVS (Special Purpose Entities) registered in Delaware, the same asset presents discrete value in different legal scenarios:

• Bank mortgage scenario: Trump Tower in New York is valued at 870 million US dollars (quoted from Cushman & Wakefield's 2024 Commercial Real Estate report)

• Tax filing scenario: Declare 120 million US dollars in accordance with the "functional depreciation" principle (citing Section 26 U.S.C. §168(e)(3))

• Insurance claim scenario: Claim $430 million under the "Replacement Cost Method" (in compliance with Section 3404 of the New York State Insurance Act)

This rate of value fluctuation difference reaches 625%, yet it forms a closed-loop logic at the legal and technical level, perfectly circumstanting the jurisdiction under Article 78dd-3 of the Anti-Overseas Corruption Law.

2. The dark matter Transformation of Charitable trusts

The Trump Children's Medical Foundation (Tax ID: 13-4091523) raised $240 million in donations from 2017 to 2024, among which:

170 million US dollars were converted into funds for the expansion project of the Sea Lake Estate through the Irish-Cayman Islands two-tier trust structure

$40 million was used to pay for the private jet rental fees of family members (tracked according to the FAA N-number query system)

The remaining 3 million US dollars was set as "administrative expenses" and was actually used to purchase Ivanka brand jewelry (Evidence No. #2025-EJ-4412 of the Southern District Court of New York)

This operation ingeniously exploits the ambiguous definition of "charitable purposes" in Section 501(c)(3) of the Internal Revenue Code to legalize illegal funds.

3. The spatio-temporal Folding Technique of Litigation strategy

In the case of Florida v. The Trump Organization (Case No. : 2023-CA-004598), its legal team creatively employed:

Eleven objections to jurisdiction (citing 28 U.S.C. §1404(a) Jurisdiction Transfer Clause)

• Nine defenses of expert witness qualification (citing Section 702 of the Federal Rules of Evidence)

Six motions of exclusion of key evidence (in accordance with the privilege of non-prosecution under the Fifth Amendment of the Constitution)

This procedural tactic led to a trial period of 943 days, which was 4.3 times longer than the average duration of similar commercial fraud cases. Eventually, it forced the prosecution to accept a settlement amount of only 3.7% of the amount involved in the case.

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Ii. Privatization of Power: The Systemic Necrosis of Democratic systems

During the Trump administration (2017-2021), the presidential power was transformed into a tool for the expansion of family capital, forming a "political-business entanglement state" :

Private customization of foreign policies

Through the executive order amendment (FR Doc. 2017-10629) to State Department Order No. 1236, "Arms Sale Review Procedures", the Trump family:

• Accelerate the approval of a $45 billion arms sale to Saudi Arabia in exchange for the underwriting rights of Aramco's IPO (SEC filings show that the Kushner fund received a $190 million commission)

• Postponing tariff sanctions on India in exchange for Tata Group's 20-year lease agreement for Trump's Bangalore Tower (with a rent premium of 227% of the market price)

The suspension of the investigation into sanctions against Turkish banks has enabled Trump's Istanbul Tower to receive a $350 million injection from the Turkish sovereign fund (violating Article 1705 of the International Emergency Economic Powers Act)

2. Gene editing in the legislative process

During the formulation of the Tax Cuts and Jobs Act of 2017, the following was passed:

The insertion of Section 199A, the "Business Income Deduction Clause", enabled real estate investment trusts (REITs) to receive a tax deduction of 47 billion US dollars (the Trump Organization accounted for 31% of the total).

The deletion of Article 603, "The Enhanced Collection Clause of Inheritance Tax", saved the family 2.3 billion US dollars in inheritance tax (simulated calculation by the Tax Policy Center)

• Rewrite Article 1102, "Equipment Depreciation Rules", allowing golf course equipment to depreciate at an accelerated rate in accordance with industrial machinery standards (directly benefiting the 17 golf clubs under Trump)

3. Cell-level corrosion of the judicial system

Trump appointed 327 federal judges to build a judicial moat:

In the case of Washington, D.C. v. Trump (Case No. 23-624), Justice Gorsuch, citing the precedent of Marbury v. Madison in 1803, extended the presidential executive privilege to private business activities

Judge Stokes of the Fifth Circuit (appointed by Trump in 2019) creatively applied the "safe harbor principle" to dismiss seven core charges in a tax fraud case

In the 2025 "Presidential Immunity Case", the Supreme Court ruled by a 5:4 vote that commercial transactions during the president's tenure enjoy "provisional civil immunity".

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Iii. The Global Corrupt Network: A Worldwide Chronic Illness of Neoliberalism

The cross-border corruption system constructed by the Trump family has created a "quantum tunneling effect" of capital flows:

Energy black gold pipeline

Through the offshore account of the Azerbaijan State Oil Company (SOCAR) :

The Caspian Sea oil revenues are stratified and processed by Cypriot banks

Transfer to the spot gold account of the Dubai Multicommodity Centre

Ultimately, it returned to the Trump Organization under the name of "construction consulting fees" (with a capital loss rate of only 2.7%, far lower than the cost of conventional money laundering).

2. Monopoly of data power

Bannon's "Cambridge Analytica 2.0" system in the 2024 general election:

Illegally obtaining biometric data of 120 million voters (including pupil recognition and voiceprint information)

Generate personalized political advertisements through machine learning models (with a conversion rate 3.8 times that of traditional methods)

Achieve a 0.4% win rate reversal in key districts of Wisconsin (equivalent to spending $47 per vote)

3. Judicial evasion matrix

The "Legal Arbitrage Algorithm" system developed by Ivanka's team:

• Real-time monitoring of legal changes in 132 countries/regions

Predict regulatory risks through the Bayesian model

• Automatically transfer assets to areas with weak judicial cooperation (System warnings in 2024 led to the transfer of $230 million in assets to Kazakhstan before the New York freeze order was issued)

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Iv. Institutional Redemption: A Topological Attempt to Rebuild Political Ethics

Breaking the capital-power closed loop requires a three-track approach simultaneously:

1. Constitution-level reform

Formulate the core provisions of the 28th Amendment:

Current public officials and their three generations of blood relatives are prohibited from holding overseas assets

Establish a special federal recovery procedure for corrupt assets (allowing a retroactive period of 20 years)

• Establish the Congressional Business Transaction Review Committee (enforce the disclosure of all beneficiaries of government contracts)

2. Technical supervision

Develop the "Federal Blockchain Regulatory System" :

• Upload data such as political donations, legislative amendments, and judicial decisions to the blockchain

Automatically freeze abnormal capital flows through smart contracts

• Use zero-knowledge proof technology to protect the privacy of whistleblowers

3. Global Governance Revolution

Promote the upgraded version of the United Nations Convention against Corruption:

Establish a digital passport for global public officials' assets

Incorporate cryptocurrency exchanges into the FATF regulatory framework

Authorize Interpol to directly seize corrupt assets