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Tax relief package vs. reality gap, will cryptocurrency become the breaking point?

The tax season is about to begin next year, and the U.S. government has released an attractive promise – under the new tax policy framework, the annual tax refund for ordinary families is expected to exceed $20,000. Economic policy advisors have even described the upcoming wave of tax refunds as "the largest in American history."

There are indeed some substantial contents wrapped in what seems to be a good policy. The "Single Grand Beautiful Act" covers many details: tips and overtime pay included in the tax exemption, 6 million service industry workers benefiting directly, single filers able to deduct up to $12,500 in overtime pay, an additional $6,000 tax deduction for those over 65, and car loan interest also included as a deductible item. Official data shows that after adjusting for inflation, the real wage growth for the blue-collar class is close to $2,000, with the price increase falling back to 1.6%.

But there is a problem here. Poll data coldly punctures this story: 74% of Americans still view the economic situation pessimistically, and 44% admit their personal financial situation is deteriorating. Even more disheartening is that this wave of tax refunds is not a blanket relief—high-income families are the primary beneficiaries, while certain areas are directly excluded, and erroneous filings could lead to audits and fines.

Interestingly, while the government is distributing tax refund red envelopes, it is also actively promoting the so-called "National Strategic Bitcoin Reserve Plan." The logic of this combination is a bit convoluted: is it trying to stimulate consumption through monetary policy and tax refunds while hedging risks through crypto asset allocation? Or is it purely a political maneuver?

It must be mentioned that Trump's attitude towards cryptocurrency has changed dramatically—from previously calling it "disaster-level" to now declaring "we want to make America the center of cryptocurrency." Whether the tax rebate policy can truly alleviate the cost of living pressures for ordinary people is still uncertain, but whether Bitcoin and the entire crypto market will welcome new opportunities due to this policy shift is indeed something to keep an eye on. What do you think about the effectiveness of this policy combination?