It’s Tax Day in the U.S., and those promised “super-charged tax refunds” from Donald Trump’s “Big Beautiful Bill” are supposedly on the way, right? Well…
As Stephen Colbert highlighted on The Late Show on Wednesday night, the average individual tax refund will indeed be $748 higher this year due to the Republican-backed bill. However, the average U.S. household might spend $740 more on gasoline, due to the ongoing U.S. war with Iran. So, what’s the net difference?
“Let’s see… that is… eight bucks. That’s eight bucks. So congratulations, everybody,” Colbert commented. “Eight bucks doesn’t sound like much, but may I remind you that’ll get you eight lotto tickets, which also happens to be Trump’s health care plan.”
Colbert mentioned one person who appears unconcerned with oil prices and inflation: Trump’s Director of the National Economic Council, Kevin Hassett, who told CNBC on Tuesday, “Imagine if oil prices start going back down, because the situation resolves itself somehow, that you could be looking at an inflation close to zero.”
“Yes, the situation might resolve itself somehow,” Colbert responded sarcastically. “Until then, all America has to do is use their imagination. My friends, imagine a car made of liquorice somehow, and it somehow runs on dreams, and somehow your best friend is a musical dog and Kevin Hassett isn’t an idiot, somehow.”
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Stephen Colbert