From mint · · 1m 30s
Trump's economic winners and losers
Trump's policies boost rich Americans while hurting middle class.
In brief
Trump's policies boost rich Americans while hurting middle class. Trump's economic policies cost poor households 3% of income but benefit rich households by 3%. Originally reported by mint.
Trump's economic promises
Donald Trump promised a golden age of jobs, paychecks, and economic prosperity for Americans before the 2024 election.
“the best jobs, the biggest paychecks, and the brightest economic future the world has ever seen”
Economic growth claims
The White House claims Trump's policies are driving up wages and fueling a blue-collar boom, with output expanding at 3% annually.
Tariff impacts
Tariffs have raised consumer goods costs by 2% and will cost the average household $1,100 this year, according to the New York Fed.
Tax policy effects
Trump's tax-and-spending law boosted tax refunds by $340 on average but tightened food stamp access, affecting over 5m Americans.
Income distribution
The poorest tenth of households lose 3% of income, while the richest tenth gain 3% under Trump's policies, according to The Economist analysis.
Housing costs
Mortgage rates have climbed above 7%, adding $11,000 to new home costs and increasing labor costs by 4.2% for builders.
Job market shifts
Private-sector wage growth slowed to 3%, with real hourly pay 0.7% lower than a year ago, and manufacturing jobs fell by 20,000 since January 2025.
Wealth inequality
The S&P 500 rose $17 trillion, but 90% of gains went to the richest tenth of households, while the poorer half gained only 0.6%.
What it means
Trump's economic policies cost poor households 3% of income but benefit rich households by 3%.
