Multiple Studies Confirm Trump’s Economic Plans Would DESTROY Everyone Except The Wealthy

Multiple new studies released in the past few weeks have ALL confirmed that Donald Trump’s economic policies would be a disaster for everyone that isn’t a part of the upper echelon of income earners. In fact, one study found that his tariff plans would raise taxes on 95% of the country – everyone but the super rich. His plans for mass deportations would also destroy the economy for more than a decade, another study found. Ring of Fire’s Farron Cousins discusses this.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

According to multiple different studies from multiple different economic institutes, a second term of Donald Trump, if he enacts the proposals that he is currently proposing, including of course, tariffs on every good coming into this country as well as mass deportations. But every economic institute that has looked at these plans has said that these policies would devastate the United States. In fact, it wouldn't just cause devastation right now, or while Trump is in office. Some of them are projecting that the damage caused from these policies wouldn't even be able to be negated until at least the year 2040. So four years of Trump economic policy would cause 16 years of devastation in this country before we're able to get back on the right track. This first one comes from uh, um, a DC think tank, and it is the Institute on Taxation and Economic Policy. Here's what they said.

His proposed tariffs, which would largely be passed on to consumers as increased prices, would more than offset the tax cuts for all income groups outside the richest 5% because again, Donald Trump has, you know, proposed some tax cuts for the average working class family. But those cuts would be negated because we would end up paying all the higher prices due to his tariffs. And they say, taken together the tax cuts and tariffs would cost households in the middle 20% of the income distribution, an average of $1,530. In 2026, the analysis found while the richest 1% would actually save $36,320 a year, only 5% of the wealthiest households would come out ahead under Trump's plans. So if you're in that top 5%, then absolutely, I understand why you would vote for Donald Trump. You would come out better, granted only 36 grand a year, but that's still 36 grand.

You don't have in your greedy little pockets right now, so I get why you would support him. But if you're like me and you're in that bottom 95% anywhere in it, you'll lose money every year. That's what Donald Trump's tax plan, the tariffs bring, because it's important for everybody to remember. Tariffs are not paid by the country upon which the tariffs are placed. The tariffs are paid by the companies bringing in the goods from that country. So let's just say I run a company in the United States called Acme, right? My Acme company wants to bring in goods from China to sell in the United States because of the tariffs. I have to pay a 20% tax when I bring those goods

In. China doesn't pay that I pay it. So then my cost just went up by 20%. And as we've seen in the last few years, what do companies do when their costs go up? They raise the prices for consumers even more than the cost of their price increases. So we get screwed and it gets worse. In a separate analysis, the committee for a responsible federal budget said Trump's tax plans would cost the government as much as $15 trillion, whereas the Harris campaign's proposal could cost 8 trillion. So Harris' plans are half as expensive as Donald Trump's. And then the Peterson Institute for International Economics said this, Trump's plans would cause weaker economic growth, higher inflation, and lower employment, and in some cases, that damage could continue through 2040. Among other things. The paper found that even in a best case scenario, a best case scenario, Trump's policies would send inflation shooting back upward to 6% by the year 2026, and by 2028, consumer prices would be 20% higher than what they are today.