WHAT HAS TRUMP DONE FOR YOU?

What Has Trump Done to Increase Your Wealth? Spoiler: Not Much

As the 2024 election approaches, the answer for the vast majority of Americans—excluding billionaires—is starkly clear: not much, if anything, on the promises made by politicians and the realities they’ve faced over the past few years. One question that looms is: What has Donald Trump done to increase your wealth? For the vast majority of Americans—excluding billionaires—the answer is starkly clear: not much, if anything at all.

The Trump Presidency: A Billionaire’s Playground

During his office, Trump championed policies "pro-growth" and "pro-business." However, a closer examination reveals that these policies primarily benefited the wealthy and large corporations, leaving average Americans out in the cold.

1. The Tax Cuts and Jobs Act (TCJA): Passed in 2017, the TCJA was heralded as a win for the American worker. However, the reality was quite different. The tax cuts heavily favored the wealthiest individuals and corporations, with 83% of the benefits going to the top 1% by 2027. While some middle-class families saw a temporary boost in their paychecks, these were often offset by the elimination of deductions that many relied on, such as state and local tax deductions. For the average American, the promised "trickle-down" effect never materialized.
2. Deregulation: Trump’s administration rolled back numerous regulations, arguing that it would boost the economy and create jobs. While this may have provided short-term gains for big businesses, it often came at the expense of worker protections, environmental safeguards, and consumer rights. The long-term consequences of these rollbacks are still unfolding, but one thing is certain: they did little to increase the wealth of everyday Americans.
3. Trade Wars: Trump’s trade policies, particularly the trade war with China, were sold as a way to protect American jobs. However, these policies increased consumer costs and hurt American farmers, manufacturers, and workers. The tariffs imposed on Chinese goods resulted in higher prices for everyday items, from electronics to clothing, effectively reducing the purchasing power of the average American family.

The Democrats Have Your Back

While Trump’s policies were largely designed to benefit the wealthy, the Democratic Party has taken a different approach. Under the Biden administration, we’ve seen a renewed focus on policies aimed at improving the lives of all Americans, not just the elite.

1. The American Rescue Plan: This sweeping legislation directly relieved millions of Americans through stimulus checks, enhanced unemployment benefits, and child tax credits. These measures helped lift millions out of poverty and boosted the economy during the COVID-19 pandemic.
2. Infrastructure Investment: The bipartisan Infrastructure Investment and Jobs Act is set to create millions of jobs, improve the nation’s infrastructure, and provide long-term economic benefits. This investment addresses critical transportation, water systems, and broadband access needs and ensures that the benefits reach all Americans, not just the wealthy.
3. Healthcare Expansion: The Democrats have consistently worked to expand access to affordable healthcare. The Biden administration has strengthened the Affordable Care Act, reducing premiums for millions and expanding Medicaid in several states. These efforts have made healthcare more accessible and affordable, benefiting the average American.
4. Education and Workforce Development: The Biden administration has also focused on expanding access to education and job training programs. Initiatives such as increased funding for community colleges, apprenticeships, and job retraining programs are designed to help workers adapt to the changing economy and secure better-paying jobs.

The Bottom Line

When it comes to increasing the wealth and improving the lives of average Americans, Trump’s record falls flat. His policies were designed to benefit the wealthy, and any gains seen by ordinary citizens were minimal and often temporary. In contrast, the Democratic Party has pursued policies to lift all boats, providing tangible benefits to working families, small business owners, and the middle class.

Considering your options in the upcoming election, it’s essential to ask yourself: Who has genuinely had your back? The record clearly shows that while Trump has done little to improve your life or increase your wealth, the Democrats have been working tirelessly to pass laws that make a real difference.