All this means that the American middle classes will feel relatively little tangible benefits from Trump’s tax cuts, while those who already have very large amounts of wealth will accrue even more.
This is compounded by the fact that the wealthiest people have the means to minimise their contributions through clever accounting. Trump himself has been known to toy with tax laws and flirt with fraud, as outlined in this analysis by AIS-CPA: Tax Fraud By The Numbers: The Trump Timeline. Meanwhile the middle classes cannot reduce this burden affordably, and would see relatively little benefit even if they could.
Long Term Damage
Another problematic aspect of the Tax Cuts and Jobs Act rolled out by Trump and his contemporaries is that the deficit is rising and public spending is being slashed. Figures suggest that this will leave middle class retirees with less cash to spend in their twilight years.
Experts argue that people will end up working for longer, then find it necessary to sell their homes in order to afford the higher living costs they face in retirement. This is particularly disastrous in the context of healthcare, where cuts to Medicare and Medicaid will leave households with modest incomes in an unenviable position.
Lack Of Job Growth
