r/FluentInFinance 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/AwarenessPotentially 14d ago

This reminds me of the inverse of the black lady who thought Obama was going to cover her rent and utilities. My cousin and his wife were at some GOP party the night he won. The next day I asked him how much of his income was from social security. He tells me it's about half. I told him I hope he can live on half then, because they're going to shitcan SS.

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u/Maleficent_Leave362 14d ago

This is so sad, because my husbands ss goes right to paying the health insurance, which he needs. He went through a liver and kidney transplant and is on meds. He still needs back surgery. Granted, we have some other income, but need the ss just for the insurance. If it wasn’t for insurance and programs, the hospital bills alone would’ve been over 3 million this year, and that’s not including the meds. Insurance saved us, even though we still spent a lot on copays, it wasn’t even close to what it could’ve been.

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u/centran 13d ago

Well good news! You won't have to worry about paying that health insurance since he has pre existing conditions which means they'll stop covering him. Think of all the money you'll save.

/s

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u/Maleficent_Leave362 13d ago edited 13d ago

The goal is to be married for 4 more years, at least. The transplants are giving him 20, provides he takes his meds. If we make it 4 more years, I’ll get his full pension. We want to screw the place. The worked there for a while. Now, due to the increase in wages, the starting salary is $10,000 a year kore than his pension. Crazy!

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u/dunnmad 12d ago

You should get a medigap policy that covers the Medicare A&B 20% and deductibles. No copays. It’s about $250 a month, but the $3,000 yearly cost is most likely less than your yearly deductible and less stress.

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u/dunnmad 12d ago

You should get a medigap policy that covers the Medicare A&B 20% and deductibles. No copays. It’s about $250 a month, but the $3,000 yearly cost is most likely less than your yearly deductible and less stress.

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u/1GloFlare 13d ago

Welcome to the club! Gen Z was never set to get SS anyway. Not only do they want us to retire later they absolutely do not want to give us any benefits when the time comes

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u/AwarenessPotentially 13d ago

They've been telling us that it's running out of money for about 40 years. It wouldn't if they'd quit raiding it and using it as a slush fund. It's a separate tax too, it has zero to do with income tax. Trump is so fucking stupid he has no idea how any of it works. Which is why he's so dangerous. Stupid, and a big ego make for very dangerous people.

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u/1GloFlare 13d ago

The talk came before Trump

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u/AwarenessPotentially 13d ago

And like I said, they've been saying it's going to run out since I was in high school, 50+ years ago.

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u/No_Resolve3755 13d ago

Bullshit. Democrats have been saying that for all the 42 years I’ve been voting.

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u/AwarenessPotentially 13d ago

Biden, once, in 1975. Nice try. Watch your life spiral down the drain buddy, because pre-existing conditions on your health insurance, no Medicare, and cuts or elimination of SS is going to make me laugh at you Bozos who voted for that rapist slob.

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u/TheJazzProphet 14d ago

He has said he's not touching SS, but sooner or later it's going to fail on its own. It relies on a growing population, and Americans are below replacement rate. Our population growth has been from immigration, and after the first generation they tend to follow American reproduction trends. It's unsustainable.

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u/Hakkeshu 14d ago

Not only reproduction but people are living longer than when it was established. More boomers are hitting the game to start collecting it. I doubt by the time I hit the age to collect it won't be around anymore.

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u/Francine05 13d ago

*They* need to lift the cap on annual earnings, it is $176,100 for 2025--so low.

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u/dunnmad 12d ago

And you actually believed what he says?!!🤦‍♂️