The 2024 presidential election may seem like a stark contrast to Trump’s previous term, where he tapped into economic discontent among lower-income voters. However, upon closer examination, it becomes clear that Trump’s campaign funding came predominantly from billionaires, indicating a more nuanced and complex picture.
Trump has promised to deliver “the best jobs, the biggest paychecks and the brightest economic future” for America. Yet, his policies are unlikely to benefit working-class Americans. His planned tariffs could lead to trade wars, reducing economic growth on all sides. Mass deportations would disrupt businesses and destroy lives, leading to a net loss of jobs.
Corporate tax cuts might boost profits but won’t stimulate economic growth. Trump’s healthcare plan aims to cut costs by banning coverage for gender-affirming care, but relies on false claims about its costs. In reality, the US has a parasitic for-profit system that squeezes money out of patients.
Trump continues the upward redistribution of wealth, which was already happening under both Democratic and Republican administrations. The ultra-rich dominate the US political system through judicial review and revolving door relationships with government officials.
The result is a rigged system in favor of the rich. For instance, the Supreme Court has consistently declared child labor laws unconstitutional. Employers can violate labor law with impunity, while small infractions by poor people are harshly policed.
As Trump’s second term looms, his transition team will be led by two billionaires. The Senate, also dominated by millionaires, will have to approve these staffing decisions. This means the wealthy will continue to run things.
Billionaire-run systems use deportations as union-busting tactics. Deportations drive a “race to the bottom” that depresses living standards for all workers. Socialists demand an extension of labor and political rights for all working people, regardless of immigration status. The next four years require building mass resistance against deportations in schools, neighborhoods, and workplaces.
Source: https://www.socialistalternative.org/2024/12/20/trumps-economy-big-profits-for-billionaires-empty-promises-for-workers