Donald Trump Reveals His Economic Plan for the Really Rich

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Donald Trump just finished reading his big economic policy speech from a teleprompter. He’s really bad at reading from a teleprompter, looking alternately bored and outraged. Here are the pieces that caught my eye:

  • Huge tax cut for the rich.
  • But no spending cuts that he’s willing to admit to.
  • End of estate taxes.
  • Cut corporate tax rate to 15 percent.
  • Allow corporations to repatriate foreign earnings at a special 10 percent rate.
  • Declare China a currency manipulator, even though their currency is currently overvalued, not undervalued. A market rate for the renminbi would make Chinese imports even cheaper.
  • Slash regulations on corporations.
  • Pretend global warming doesn’t exist.
  • Ban all new financial regulation.
  • Repeal Obamacare.
  • Implement a childcare tax deduction instead of a tax credit.
  • He will work with Ivanka on a childcare plan. Because, I guess, Ivanka has kids, so she’s an expert on the problems that low-income workers have with childcare.

This is not exhaustive, and most of the speech was just the usual tired Republican orthodoxy. Mitt Romney could have given 90 percent of it. There was also a lot of random guff about how disastrous the economy is; how the unemployment rate is a hoax; and how American energy, planes, cars, steel, and so forth will employ way more American workers once Trump becomes president.

You bet. As near as I can tell, literally every single one of his proposals above would benefit the rich and do virtually nothing for the working and middle classes. But he sure knows how to put a populist spin on giveaways to the rich, doesn’t he?

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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