Donald Trump is offering a vision of crony rentier capitalism that has enticed many captains of industry and finance. In catering to their wishes for more tax cuts and less regulation, he would make most Americans’ lives poorer, harder, and shorter.
NEW YORK – As America’s crucial presidential election approaches, the campaign has reached a fever pitch, with Donald Trump and his cronies issuing increasingly radical promises of what they would do with power. But such promises, for example regarding fiscal policy, inevitably will be broken. After all, it is mathematically impossible to cut taxes for corporations and billionaires, sustain basic programs like defense and Social Security, and lower the deficit simultaneously.
NEW YORK – As America’s crucial presidential election approaches, the campaign has reached a fever pitch, with Donald Trump and his cronies issuing increasingly radical promises of what they would do with power. But such promises, for example regarding fiscal policy, inevitably will be broken. After all, it is mathematically impossible to cut taxes for corporations and billionaires, sustain basic programs like defense and Social Security, and lower the deficit simultaneously.