×
Pro Analysis

Trumponomics favors white collar over blue collar

Donald Trump
Getty Images
Donald Trump

Donald Trump's plan to make America great again favors pin-striped suits and Hermès ties over blue collars. The Republican presidential nominee laid out his plan to boost U.S. growth on Monday, calling for corporate tax cuts and a halt to new financial regulation. Billionaire investors and donors to the Trump campaign who comprise his newly announced economic team helped craft the proposal.

The artifice was perpetuated by Trump's decision to unveil his latest ideas in Detroit, a Rust Belt symbol of American labor only two years out of bankruptcy. And yet a blanket moratorium on any new federal rules would primarily benefit big businesses and Wall Street. Trump cited manufacturing industry research that "overregulation" costs the economy up to $2 trillion a year. The U.S. Chamber of Commerce, bank lobbyists and others have sued President Barack Obama's administration dozens of times over a variety of restrictions. Trump also wants to roll back environmental protections, including ones that reduce carbon-dioxide emissions.