Is Trump a Populist? - Market Mad House
For instance, a common dictionary definition of populism is “support for the concerns of ordinary people.” However, Trump’s signature legislative achievement is a $1.4 trillion tax reform package that critics attack as a “giveaway to the rich.” In particular, the Tax Cuts and Jobs Act reduced the top individual tax rate to 37%, The Balance points out. Moreover, the act could reduce the number of affordable housing units by 200,000 by cutting tax credits, Mother Jones notes. Additionally, the Tax Cut and Jobs Act is wildly unpopular. For instance, only 27% of Americans called the act a “good idea,” an April 16, 2018, Wall Street Journal/NBC News poll estimates. To be fair to Trump, the Tax Cut and Jobs Act is the work of Congressional Republicans. Those Republicans have vast ideological differences from the President. Importantly, Congressional Republicans have the power to kill Trump’s agenda unless he goes along with their pet legislation. Thus, Trump the populist has no choice but to go along with whatever Congressional Republicans want.
Post to Tumblr