### Trump's Tax Strategy: Past, Present, and Future Implications

In the wake of Donald Trump's presidential victory, Americans are bracing for a tax policy overhaul reminiscent of his first term. Trump has always been clear about his agenda: substantial tax cuts, primarily benefiting the wealthy and big corporations.

Looking back to 2016, Trump's policy proposals were often dismissed as impractical and unachievable. Yet, he unwaveringly pursued his tax reduction goals, culminating in the passage of the Tax Cuts and Jobs Act of 2017. This legislation granted a significant 40 percent tax reduction for corporations and produced one of the most considerable tax cuts for the wealthiest Americans, with the top 0.1 percent securing a tax cut 277 times greater than that of middle-class families.

Despite claims that the 2017 tax cuts would spur worker pay raises and economic growth, the net effect was an increase in shareholders' wealth, substantial CEO bonuses, and a $1.9 trillion addition to the national deficit. With many of these cuts set to expire next year, Trump, together with a Republican-led Congress, could have another opportunity to extend and deepen these policies.

Trump has been upfront about his intentions to offer more tax relief to affluent individuals and large corporations. Prospective policies include further lowering the corporate tax rate to as low as 15 percent and reducing taxes on capital gains. As incoming Senate Finance Chair Sen. Mike Crapo indicates, "everything is in play," signaling the breadth of potential tax adjustments.

The involvement of prominent business lobbying groups such as the U.S. Chamber of Commerce and the Business Roundtable underscores the momentum behind this agenda. Together with substantial financial support, including millions pledged by former Vice President Mike Pence's dark money group to maintain the 2017 tax framework, the push for additional cuts is robust.

While Democrats gear up for a fierce legislative battle, the stakes could not be higher. Extending Trump-era tax laws stands to worsen income inequality and inflate the deficit, while disproportionately empowering corporations and the wealthiest citizens. Furthermore, Trump's indication of appointing Elon Musk as "Secretary of Cost Cutting" highlights the potential for severe program cuts that many American families depend on, which Musk admits could cause "temporary hardship."

The Democrats have a precedent for opposing such tax policies. Their resistance to the 2017 tax bill not only drove Trump's approval ratings down but also contributed to a significant victory in the 2018 midterms. As the tax debate rages on, Democrats must unify and fight to protect working families, countering policies that prioritize the ultra-wealthy and large corporations.

The recent election results show a shift in working-class support towards Trump, signaling a potential misalignment of perception between the Democratic Party and ordinary voters. The upcoming tax policy dispute offers Democrats an opportunity to correct this perception and emphasize the economic stakes for the average American family.