Donald Trump is portrayed as a "populist" committed to average working-class people, but his policies benefit wealthy elites at the expense of everyone else. His administration includes 13 billionaires -- including Elon Musk, the world's richest oligarch -- and he is cutting taxes on the rich and corporations while imposing a consumption tax on the poor through tariffs. Ben Norton explains how Trump is waging a class war.
VIDEO with charts here: https://www.youtube.com/watch?v=eL8cg-wWBO8
Check out our related video on JD Vance's speech on reindustrializing the US: https://www.youtube.com/watch?v=ywmpea6vvOE
Why Donald Trump won the US election: https://geopoliticaleconomy.com/2024/11/08/donald-trump-us-election-kamala-harris-economy/
Topics
0:00 Intro
0:09 (CLIP) Trump at McDonald's
0:33 Billionaires in Trump admin
1:36 Big Tech oligarchs
2:36 Corruption and bribery
3:17 Trump meme coin
4:20 Tax cuts for the rich
5:20 Tariffs are a tax
6:45 Trump's tax law benefited rich
8:25 Billionaires avoid taxes
10:01 Historical tax rates
11:44 Corporate tax rate
12:50 Progressive taxation
15:02 Why Trump won: inflation
16:43 Election turnout
18:02 Trump's low approval rating
20:20 Why people are angry
21:03 (CLIP) Obama on Wall Street
21:19 BlackRock CEO
21:48 Elon Musk
22:12 (CLIP) Trump on Tesla
22:21 US economy relies on rich
24:05 Unemployment rate is misleading
25:36 Stagnant real wages
29:34 Inflation is sticky
30:31 No more cheap goods
31:14 Scott Bessent & George Soros
33:25 (CLIP) Scott Bessent on American Dream
33:40 Cheap goods & China
36:51 Tariffs & reindustrialization
38:22 Myth of American Dream
40:07 US life expectancy is falling
41:17 Scapegoating
43:37 Recession warnings
45:01 Housing
47:02 Elon Musk buys White House position
47:35 Blackstone CEO Stephen Schwarzman
48:34 Trump's fake "populism"
49:22 Hopeful examples
50:15 Mexico: AMLO
51:43 Mexico: Claudia Sheinbaum
53:11 Learning from Mexico
54:50 China's poverty reduction
57:54 US oligarchy
58:37 Outro
