Geopolitical Economy Report
Geopolitical Economy Report
Ben Norton
Class war: How Trump helps the rich and hurts everyone else
58 minutes Posted Mar 26, 2025 at 12:00 am.
Intro
(CLIP) Trump at McDonald's
Billionaires in Trump admin
Big Tech oligarchs
Corruption and bribery
Trump meme coin
Tax cuts for the rich
Tariffs are a tax
Trump's tax law benefited rich
Billionaires avoid taxes
Historical tax rates
Corporate tax rate
Progressive taxation
Why Trump won: inflation
Election turnout
Trump's low approval rating
Why people are angry
(CLIP) Obama on Wall Street
BlackRock CEO
Elon Musk
(CLIP) Trump on Tesla
US economy relies on rich
Unemployment rate is misleading
Stagnant real wages
Inflation is sticky
No more cheap goods
Scott Bessent & George Soros
(CLIP) Scott Bessent on American Dream
Cheap goods & China
Tariffs & reindustrialization
Myth of American Dream
US life expectancy is falling
Scapegoating
Recession warnings
Housing
Elon Musk buys White House position
Blackstone CEO Stephen Schwarzman
Trump's fake "populism"
Hopeful examples
Mexico: AMLO
Mexico: Claudia Sheinbaum
Learning from Mexico
China's poverty reduction
US oligarchy
Outro
0:00
58:49
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Show notes
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/
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