Donald Trump Reveals His Economic Plan for the Really Rich

Evan Vucci/AP Photo

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Donald Trump just finished reading his big economic policy speech from a teleprompter. He’s really bad at reading from a teleprompter, looking alternately bored and outraged. Here are the pieces that caught my eye:

  • Huge tax cut for the rich.
  • But no spending cuts that he’s willing to admit to.
  • End of estate taxes.
  • Cut corporate tax rate to 15 percent.
  • Allow corporations to repatriate foreign earnings at a special 10 percent rate.
  • Declare China a currency manipulator, even though their currency is currently overvalued, not undervalued. A market rate for the renminbi would make Chinese imports even cheaper.
  • Slash regulations on corporations.
  • Pretend global warming doesn’t exist.
  • Ban all new financial regulation.
  • Repeal Obamacare.
  • Implement a childcare tax deduction instead of a tax credit.
  • He will work with Ivanka on a childcare plan. Because, I guess, Ivanka has kids, so she’s an expert on the problems that low-income workers have with childcare.

This is not exhaustive, and most of the speech was just the usual tired Republican orthodoxy. Mitt Romney could have given 90 percent of it. There was also a lot of random guff about how disastrous the economy is; how the unemployment rate is a hoax; and how American energy, planes, cars, steel, and so forth will employ way more American workers once Trump becomes president.

You bet. As near as I can tell, literally every single one of his proposals above would benefit the rich and do virtually nothing for the working and middle classes. But he sure knows how to put a populist spin on giveaways to the rich, doesn’t he?

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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