Back to today’s briefing

Story perspectives

Trump's Economic Plan: A 'Triple Whammy' for the Poor

4/12/2025

50 9

Summary

Story summary

President Trump's economic plan faces fierce criticism for favoring the wealthy at the expense of the middle and lower classes. Elizabeth Pancotti calls it a "triple whammy," citing regressive tariffs, tax cuts for the rich, and safety-net program cuts. Economists caution that this approach may trigger stagflation and encourage tax evasion among the affluent.

1 of 1

Story summary

President Trump's economic plan faces fierce criticism for favoring the wealthy at the expense of the middle and lower classes. Elizabeth Pancotti calls it a "triple whammy," citing regressive tariffs, tax cuts for the rich, and safety-net program cuts. Economists caution that this approach may trigger stagflation and encourage tax evasion among the affluent.