However you slice it, the wealthy are going to benefit more than the poor and middle income under almost any economic scenario in a capitalistic society. Low interest rates, high interest rates, tax cuts, etc, the wealthy will benefit more because they have more money to begin with and are extremely financially intelligent and resourceful. The outlier, of course, came during the Pandemic when the economy was shut down and the stimulus checks were only for those earning less than 75K a year.
The verdict is out whether Trump will cut social security and Medicare. He said a couple of weeks ago he will not do so. We all know how erratic Trump can be so we will have to see about that.
The fact of the matter is that Joe Biden and his administration have already cut Medicare, in particular, Medicare Advantage and that is why stocks such as UNH and HUM have been under pressure.
As for job cuts, high tech, in particular, Megacap Tech has cut massive amounts of high paying manager jobs.
Old school Democrats have a difficult time grasping that the Democratic Party today is not the party of FDR, JFK, LBJ or even Jimmy Carter. The DNC has become a pro corporate Party that does not care about the working and middle income classes. And the DNC has become the super hawk party that loves to support and create wars.
The bottom line is that, although Trump is erratic, he has shown a lot more compassion for the working class than Biden and the DNC. He is also a more competent, stronger leader than Biden/Harris. It is not the best of choices for President, but Trump has better economic and foreign policies than Biden. |
