The title is a bit misleading. Everything has two sides, and after analyzing it broadly, it's clear that, true to his nature as a businessman, his economic policies tend to benefit the wealthy.
1.Tax Policy:
He proposed tax cuts amounting to trillions of dollars, including expanding the 2017 tax cuts and reducing the corporate tax rate from 21% to 15%.
2.Trade Policy:
He planned to impose new tariffs of 10%-20% on most foreign goods, with higher tariffs on Chinese products (at one point, up to 60%), and heavy tariffs on Mexican automobile products (even threatening to reach 200%).
3.Monetary Policy:
The Federal Reserve should lower interest rates to stimulate economic growth.
These policies cannot be implemented at thesame time because they will conflict with each other. Cutting tax and reduction is tax will lead to inflation. When taxes are cut people will have more money to spend which will lead increase in the price of goods and services. Reduction of interest rates will also put more money in the hands of citizens because people can access loans or credit with low interest. 1.Tax Policy:
He proposed tax cuts amounting to trillions of dollars, including expanding the 2017 tax cuts and reducing the corporate tax rate from 21% to 15%.
2.Trade Policy:
He planned to impose new tariffs of 10%-20% on most foreign goods, with higher tariffs on Chinese products (at one point, up to 60%), and heavy tariffs on Mexican automobile products (even threatening to reach 200%).
3.Monetary Policy:
The Federal Reserve should lower interest rates to stimulate economic growth.
These economic policies are applied based on certain conditions, it cannot be a long term policy. The FEDs have increased or kept interest rates steady for a long time. But it has been reducing for the last two months because of a decline in inflation and a reduction in job opportunities. Economists have predicted that if Trump implements these policies (together with his mass deportation) at once it will lead to high inflation.
