Speaking to Bloomberg in an exclusive interview, Trump outlined the core tenets of his "Make America Great Once Again" platform. One major plank is the massive bilateral sanctions Trump plans to impose as a way to eliminate the federal income tax.
While admitting that he doesn't "love sanctions," Trump told the story of the late 20th century president William McKinley who raised enough revenue through tariffs to avoid the institution of a federal income tax. Trump's plan includes abolishing the federal income tax using the same method.
At the same time, Jerome Powell will still be allowed to finish out his term as chair of the private Federal Reserve banking cartel, which ends in May 2026.
Trumponomics also includes:
- Decreasing the corporate income tax to as low as 15 percent
- Terminating the ban on TikTok
- Appointing JPMorgan Chase head Jamie Dimon to head up the Treasury Department
- Stopping all protection of Taiwan against Chinese aggression
- Punishing Russian President Vladimir Putin for invading Ukraine
(Related: If Dominion Voting Systems runs the next election, Trump has no chance of winning.)
Will Trump follow through?
To be fair, Trumponomics is not much different than Trump's first-term agenda. What is different is the speed at which Trump plans to get the job done this time around, meaning much faster results.
After having served his first term, then going through the gauntlet of the stolen 2020 election, Trump feels as though he has learned the ropes well enough to implement his plans quickly with the "right" people in place this time.
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"We had great people, but I had some people that I would not have chosen for a second time," Trump admitted in the interview. "Now, I know everybody. Now, I am truly experienced."
Trump would seem to be implying that he knows who are the "good" guys and who are the "bad" guys in terms of his supporters versus his haters, regardless of the persona they play publicly.
The following are the "inner circle" of Trump's economic policy advisors this time around:
• Brooke Rollins, president and CEO of the America First Policy Institute (AFPI)
• Linda McMahon, former president and CEO of World Wrestling Entertainment Inc. (WWE) and the former head of the Small Business Administration (SBA) under Trump
• Robert Lighthizer, a "China hawk" who previously served as a U.S. trade representative under Trump and now lives in Florida near Mar-a-Lago
• Larry Kudlow, former director of the National Economic Council
• Kevin Hassett, former chairman of the Council of Economic Advisors
• Scott Bessent, founder of Key Square Group LP, a hedge fund
• Russ Vought, policy director at the Republican National Committee (RNC)
• Arthur Laffer, a Ronald Reagan-era champion of supply-side economics who was awarded the Presidential Medal of Freedom in 2019 by Trump for his "Latter curve" dinner napkin doodle
"In a world where everything else has been tried – and has pushed U.S. debt to stratospheric levels that virtually assure the U.S. will lose the dollar reserve status in coming years, Trump is betting that his unorthodox agenda of tax cuts, more oil, less regulation, higher tariffs and fewer foreign financial commitments will appeal to enough swing state voters to hand him the election," reports explain.
"And it's working: debate and assassination attempt boosts aside, recent polling has showed that Black and Hispanic men are shifting to the Republican Party as they tire of historically high prices for food, housing and gas."
The latest news about Trump's efforts to secure another presidential term can be found at Trump.news.
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