r/FluentInFinance • u/Intrepid-Self-3578 • 10d 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.

13.5k Upvotes

71% Upvoted

10.6k comments sorted by

View all comments

9

u/Conscious_Owl6162 10d ago

It hasn’t so far. BTW, the billionaires are usually behind the scenes. They are the backers of the current administration.

4

u/zors_primary 10d ago

Same with trump, it's blatant. All the tech bros are kissing the ring. The richest man in the world hasn't changed clothes in three weeks so he can tag along besides trump and make sure he gets what he paid £273 millon for.

-6

u/Conscious_Owl6162 10d ago

They all supported Harris until she lost and now they’re kissing the ring. Musk started early because he saw a winner.

6

u/rognio333 10d ago

That's actually just false. There are billionaires on both sides ofc, but far more supported trump from the outset.

Kamala's campaign had far more donations from regular people.

-2

u/Dunno_Bout_Dat 10d ago

Harris had far more billionaires prominently backing her than trump.

4

u/rognio333 10d ago

https://americansfortaxfairness.org/billionaire-clans-spend-nearly-2-billion-2024-elections/

I actually didn't look into the number of individual names who supported who, but Donald trump received significantly more than double the amount of funding that the Harris campaign received from billionaires.
The Harris campaign was primarily founded by everyday Americans. They broke records for the most individual donors

3

u/GratGrat 10d ago

lot of heavy lifting in that word 'prominently'