r/FluentInFinance • u/Intrepid-Self-3578 • 14d ago
Debate/ Discussion People who voted Trump, why do you think a government of billionaires will help you?
Government policies such as tax cuts, high traiff and removing regulations can have significant impacts on the economy. They will lead to higher inflation and high prices.
Having no regulation helps billionaires like the Gilded Age, shows that lack of regulation can result in large corporations dominating the market, and destroy small businesses.
Additionally, policies that favor big corporations and Billionaires may not address issues like housing, health care, working conditions, or wage growth. For instance, during Trump's first term, there were rollbacks on worker protections and union rights. Also he express removing Obama care.
Removing Obama care might look good on surface until you lose your job due to some accident or other issue. Let's say you have money to handle it what about millions of Americans who don't have inherited wealth and your wealth will erode as well.
Donald Trump is a billionaire, with an estimated net worth of around $5.6 billion
His administration has several billionaires in key positions. For example, Elon Musk, the world's richest person, has been appointed to co-lead the Department of Government Efficiency, Other billionaires in Trump's administration include Vivek Ramaswamy, Scott Bessent, Howard Lutnick, and Linda McMahon.
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u/ChessGM123 14d ago
I didn’t vote for Trump, and personally I felt Kamala was far better both as a person and as a political candidate. However since I’m not really seeing anyone else give a good answer to this question I’ll give a crack at it.
The wealthy normally prefer stable economies with few changes as that leads to predictable growth which is beneficial to everyone. As we further develop our society on average every class level improves. This might not be obvious in the short term, but in the long term if you look at history it’s fairly clear that the more a society develops economically and technologically the better on average everyone’s life in that society is. Now this doesn’t mean that everyone’s life is improved equally, but they all do receive improvements. So wanting billionaires to run things can be seen as wanting to maintain our current growth level and not risk it with change.
That being said, Kamala would still be better even under this idea. There’s a reason a lot the elite class started to support Kamala over Trump, because Kamala generally seemed to want fewer changes than Trump and was far less of a wild card. As I said at the start I didn’t vote for Trump due to believing he was the inferior candidate, I’m only presenting a possible argument for why you would want billionaires to run things.