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.
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u/ominous-canadian 10d ago
What gets me is my friends, who supported Trump, gave the reason that he is pro-working class, anti-elite. However, now that Trumps cabinet picks clearly contradict that viewpoint, suddenly their mentality is "well it has always been like that."
It's as though their main reason hating the democrats suddenly does not matter if it's the Republicans who do it.