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Rolling Stone

Rolling Stone

Trump Brags About Cutting Taxes for the Nation's 'Highest' Earners

Rolling Stone
Summary
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73% Informative

Donald Trump is closing out his 2024 campaign with a pitch of economic prosperity.

The former president brags about cutting taxes for the nation’s “highest” earners.

The tax code revisions heavily favored the ultra-wealthy and big corporations.

The legislation slashed federal revenues, driving up the deficit.

In May , Trump reportedly asked a gathering of oil executives to contribute $1 billion to his campaign — promising regulatory rollback and disfavorable policies towards green energy in exchange.

In order to make up the deficit, Trump has proposed the implementation of a 15-20 percent tariff on all imported goods.

Such a penalty would inevitably result in increased prices for common goods and necessities.