Justin Wolfers

If you want simpler language, it's called a screw the poor tax.

It's a larger chunk of the paycheck of low and middle income Americans than for the wealthy.

So what has he actually done?

He finds the wealthy when it comes to tax cuts.

He finds middle and low income Americans when it comes to tariff hikes.

And when it comes to cutting government programs, the only ones he cuts, Medicaid, for instance, those that affect low-income Americans.

So we spend less to help low-income folks, tax them more, and give bigger tax cuts to the top end.

Let's steal the rest of the audience in on what you just said.

So what we've had is folks giving tax cuts to the rich now for several generations.

This was the heart of Reagan and the heart of Thatcher, if you want to sound very fancy British.

Back then they justified it.

They said what will happen is this will stimulate investment, employment, growth.

It will trickle down from the rich to the poor.

It turns out when you find ways for the rich to get rich, the rich get rich.

Turns out when sharing is optional, they often choose not to do it.

Right.

The question that I want to ask you, Tim, is you said, I think that's the economic theory again this time.

I'm not sure they even bothered, to be honest.

I don't think they even went out and really said, you know what we can do?

We can like help working in middle class Americans by providing new opportunities for investments among the rich.