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Most Trump Voters Didn't Vote to Make Richest Richer, But GOP Congress Is About To


Most Trump Voters Didn't Vote to Make Richest Richer, But GOP Congress Is About To

Chuck Collins

Donald Trump’s voters have high hopes that he’ll boost the economy and protect jobs for those who’ve been left behind after three decades of flat or shrinking paychecks.

They didn’t vote to make the super-wealthy even wealthier.

Even Steve Mnuchin, the Goldman Sachs banker Trump picked to be his treasury secretary, seems to understand this. He promised “no absolute tax cuts for the upper class.”


When is more not enough?


And, as Krugman points out today, if government spending follows Reagan patterns the following is rather likely:
"Well, what happened in the Reagan years was “twin deficits”: the budget deficit pushed up interest rates, which caused a strong dollar, which caused a bigger trade deficit, mainly in manufactured goods (which are still most of what’s tradable.) This led to an accelerated decline in the industrial orientation of the U.S. economy"
In other words, we would continue the decline in US manufacturing jobs, and quite possibly a steeper decline ala the Reagan era.


This foul hoarding began in Europe during the early middle ages when seigneurs figured out a way to keep and accumulate fortunes gained by attacking others and stealing their valuables. The "aristocracy" is a myth created to elevate their status above that of their fellow human and buttress their claim to privilege. The American 10% is trying to re-establish this blue-blood entitlement, except that now we're dealing with Wall Street thieves, hotel managers (Trump), peddlers of oil, and exploiters of a capitalist system created to serve their type. Passing on the wealth and protecting it from being shared by the masses is just another maneuver to protect their hoarding instincts.


He wants to have a fifteen per cent tax on the rich- can't even fund the military on that.


We already know that. DUH! Now what?


Fifteen percent tax for everyone, including Corporations. No deductions. Would that be fair?


NO. A 15% flat tax would be HORRIBLE.


He was caught on tape pre-election with Wall Street billionaires and said as he was shaking hands with them "I will lower your taxes."

Like always, he keeps to his word.


How, for crying out loud, could anyone NOT see that voting for Trump was a vote for making the rich richer? So my view is that most Trump voters, who, contrary to the misconception, were predominantly well-off small to medium sized business owners, did in fact vote to make the rich richer. Why do you think the Dow screamed through 20,000 today?


No, our state is considering a higher rate for those who make at least one million a year, and most in the state support it.


Of course. The myth of the disgruntled unemployed coal miner who swills beer and rides in an old pick up is exactly that a myth.


Calling for lower tax rates- that's what it is all about.


Of course- I saw that tape. Thing is: we can't run a country with such low tax rates.


Of course it would be. This is all about Trump- he does not care about anyone else.


You mean you do. Bully for you!


Just thinking- why would a billionaire have such a problem paying taxes? Tax rates used to be much higher for wealthy people especially capital gains, and there was not all this complaining.


Bully for me for what? What are you responding to?


Corporations used to pay at least thirty five per cent and that was low. We can't even run a military with people not paying taxes. Remember, this is all about Trump for himself first guy to be president who did not show his tax returns. There is now a petition about that, and congressman Jim McGovern introduced a bill that would force all presidents to show their returns. Trump already has a lawsuit through the ethics committee due to conflict of interest.


I would not mind seeing corporate taxes drop to zero IF capital gains and dividend income taxes were raised enough to cover the short fall to government income.