The Trump government wants to cut taxes, and if his first term is anything to go by, without cutting government spending (they’ll cut social programs but increase defense, police, infrastructure, and other spending). In fact government spending rose massively even before Covid and with a majority in the senate and house during Trump’s first term.
Now how could they possibly due this without further ballooning the debt (like they did in his first term)… Tariffs are part of that. They shall first hit businesses importing goods, but those businesses obviously won’t take the hit themselves, they shall pass it along to American consumers. Now who spends a much higher percentage of their income on goods? Lower and middle class folk. So the rich shall get richer with a reduced tax burden, and those in lower income brackets shall grow poorer with the increase in cost of goods not offsetting the meagre tax breaks they get.
Fun times. Just another GOP wealth shift to the 1%. Lol