MAGA's blue-collar base waits patiently for populist payoff

President Trump's second term has been a payday for the powerful, exposing a disconnect in his promise to deliver for "the forgotten man" of America's working class.Why it matters: The populist paradox at the heart of MAGA — a movement fueled by economic grievance and championed by a New York billionaire — has never been more pronounced.Trump's blue-collar base remains fiercely loyal, energized by his hardline stances on immigration, trade and culture — and patient that his economic "Golden Age" will materialize.But so far, the clearest financial rewards of Trump's tenure are flowing upward — to wealthy donors, family members, insiders and the president himself.The big picture: Trump's inner circle has shattered norms around profiting from the presidency, dulling public outrage to the point where even the most brazen access schemes draw only fleeting scrutiny.Take crypto: The top holders of Trump's meme coin were granted an exclusive dinner last month at the president's Virginia golf club, where some paid millions for access.The White House refused to release the guest list, but wealthy foreigners — including a Chinese billionaire who faced SEC charges under the Biden administration — were among those revealed to be in attendance.Trump's sons, meanwhile, are spearheading a family crypto venture that has raked in hundreds of millions of dollars. Trump Media, the parent company of Truth Social, is raising $2.5 billion to buy Bitcoin.All of this — plus a flurry of lucrative real estate deals overseas — is playing out as Trump presides over U.S. foreign policy and the fate of crypto regulation.Zoom in: Now take Trump's relationship with his donors.His Cabinet is the wealthiest in American history, stocked with mega-donors whose combined net worth reaches well into the billions — even discounting estranged former adviser Elon Musk. Trump has granted pardons or clemency to a stream of white-collar criminals and wealthy tax cheats, many of whom hired lobbyists, donated to the president or raised money on his behalf.The Wall Street Journal found that the biggest corporate and individual donors to Trump's inauguration later received relief from investigations, U.S. market access and plum postings in the administration.The other side: Trump officials wholly reject the premise that the administration's policies don't benefit the working-class Americans who voted for the president en masse.The White House points to cooling inflation, plummeting border crossings, and the tariff-driven re-shoring of manufacturing as evidence of Trump delivering on his core promises.They frame his crypto push, AI acceleration and deregulatory agenda as driving forces behind a pro-growth tide that will lift all boats — including for middle- and working-class Americans.Reality check: Inflation may remain benign for now, but there are growing signs businesses are experiencing higher prices and passing some or all of those costs directly through to consumers, Axios managing editor for business Ben Berkowitz notes.While companies have made encouraging public statements about re-shoring, in almost all of those cases it's too soon for any shovels to be in the ground.What to watch: Trump's "One, Big, Beautiful Bill" is packed with populist red meat, including the extension of his first-term tax cuts, the elimination of taxes on tips and overtime, and $1,000 "Trump Accounts" for newborns."All his hopes and dreams on that front are pinned to that reconciliation bill," one MAGA operative told Axios, characterizing it as "the bulk" of Trump's legislative agenda for the middle class."The president expects the Senate to quickly pass the One, Big, Beautiful Bill, codifying huge tax cuts that will mean permanent savings for hardworking Americans," White House spokesperson Taylor Rogers said.Between the lines: Several independent analyses project that the wealthiest Americans would benefit most from the bill. A Penn Wharton study that found the top 10% of earners would reap 70% of the legislation's total value.The Congressional Budget Office projects that Medicaid work requirements and other health care cuts would leave about 11 million people uninsured by 2034. Millions could also be forced off of food stamps. "Medicaid, you gotta be careful," former Trump adviser Steve Bannon said on his "War Room" podcast in February. "Because a lot of MAGAs are on Medicaid, I'm telling you. If you don't think so, you are dead wrong."Factory investments in red districts are expected to suffer most from the bill's rollback of clean energy credits included in President Biden's Inflation Reduction Act.The bottom line: Inside the MAGA movement, there's little concern about who's getting rich as long as Trump keeps fighting the culture wars, deporting immigrants and tearing down liberal institutions."It's less about the tangible benefits of tax reform and those things," said one strategist with ties to Trump's orbit. "It's more about the values — standing up for what Trump said he was going to do.""That's why they like him."

Comments

World news

A quirky vegetable sculpture contest features a squash Donald Trump and a papal 'Cornclave'

washington times

Comments

Similar News

Who gets the cybertruck? Both MAGA World and liberals have turned on Musk’s Tesla as Trump divorce turns friends to foe

MAGA's mutually assured destruction

Dan Bongino draws ‘clear’ conclusion on Jeffrey Epstein jail cell death after FBI probe and MAGA theories

Trump reveals his pet name for Kid Rock as he congratulates him on his ‘MAGA’ restaurant

Trump silent on Ukraine drone attacks as MAGA blames "Deep State"

Pro-MAGA reporter fired after questioning why Pete Hegseth hides from the media

Poland’s election reflects strength of MAGA-style populism across Europe

MAGA's world tour exports Trumpism beyond U.S. borders

MAGA's AI juggling act

As Trump pardons fraudsters, MAGA grasps at straws with Biden’s ‘autopen’

Jen Psaki mocks Joe Rogan over MAGA white nationalist conspiracy theory and throws strays at new FBI leadership

RFK Jr wants to ban government scientists from publishing in top journals and instead create a MAGA-backed publication

Trump pardons criminals with MAGA credentials or big money

Trump is stretching his pardon power – to the delight of his Maga acolytes

Trump pardons MAGA sheriff who took more than $75,000 in bribes. President hails him as a ‘wonderful person’

MAGA showdown looming as conservative senators rage at parts of Trump bill: ‘It’s immoral, it’s wrong, it has to stop’

Woman poured ‘contents of a can’ over senior citizen because he was wearing a MAGA hat, police say

The loud hum sparking unrest in Trump's MAGA heartlands

Maga’s ‘DEI hire’ taunt is an age-old grievance reignited. And it’s spreading | Gaby Hinsliff

Republicans rename $1000-per-baby MAGA Accounts to "Trump Accounts" in tax bill

World news

A quirky vegetable sculpture contest features a squash Donald Trump and a papal 'Cornclave'

Chinese hackers and user lapses turn smartphones into a 'mobile security crisis'

U.N. Ocean Conference sets sail in France on World Oceans Day

Palestinians say Israeli fire kills 5 near aid sites. Israel says it fired warning shots

Raising school fees torments many Africans. Some expect the Catholic Church to do more to help

Israel vows to prevent an aid boat carrying Greta Thunberg and other activists from reaching Gaza

Russia awaits Ukraine's confirmation on a planned exchange of dead fighters, officials say

Pope Leo criticizes political nationalism and prays for reconciliation and dialogue

Elon Musk 'has PTSD from Trump's White House' as dad reveals one huge regret

Horror as British dad dies in front of his kids on Spain go-kart track

Murder of Texas megachuch pastor Joel Osteen’s relative is back on the radar of investigators

‘Deranged’: Newsom and Hegseth trade insults as Defense Sec considers deploying Marines in LA

ABC suspends reporter who interviewed Trump after devastating analysis of president – and Stephen Miller

Brit man dies while go-karting with his two children at largest outdoors track on Spanish holiday island

Brit sailor arrested on suspicion of attempted murder after ‘throwing girlfriend into river’ in Portugal

‘Tweaks’ to PIP benefits cuts explored – but Starmer still faces rebel showdown

ABC suspends correspondent for calling Stephen Miller a "world-class hater"

British dad dies at Spain go-kart track in front of his heartbroken kids

Construction project is ‘killing’ business in Edmonton neighbourhood, owners say

Palestinians say Israeli fire kills 5 near aid sites. Israel says it fired warning shots

Russia awaits Ukraine’s confirmation on planned exchange of dead soldiers: officials

Pope criticizes political nationalism, prays for reconciliation and dialogue

Iran claims without evidence that it took Israeli nuclear files

British soldier arrested in Kenya over what U.K. media report is a rape accusation

Colombia earthquake: Bogota tremor sees hundreds evacuated from tourist attraction

Crisis in Majorca as seaside town loved by British tourists is home to squatters

‘The stuff of dictatorships’: Trump admin threat to deploy military to LA protest met with angry reactions

Corporations are ditching rainbow flags and cutting funding for Pride. LGBT+ people say they won’t forget it

Israel orders military to stop Greta Thunberg’s boat as six killed by gunfire near aid centre

British soldier arrested in Kenya over what UK media report is a rape accusation

6.3 magnitude earthquake hits central Colombia, no casualties reported

How Love Island resort has become ‘criminals’ paradise’ with knife-clad Rolex rippers, rapes & ‘open war’ between gangs

I met ISIS bride Shamima Begum in prison camp – I felt sorry for her but saw true colours when I gave her wrong ‘gift’

Trump’s crackdown on LA protests is pure hypocrisy – and incredibly dangerous

Temperatures to hit 27°C after rain batters UK – but how long will warm spell last?

Elon Musk and Donald Trump are heading towards mutually assured destruction

Nurseries to set cap on children using ‘free’ hours from September to cut costs

Johnson was "disappointed" by Musk's big, beautiful bill blowup

Woman chokes dog until it's left wheezing in video 'too disturbing to watch'

Freedom Flotilla tracker LIVE as Greta Thunberg boat aims to break Israel's aid siege

Bogota earthquake LIVE as huge 6.3 tremor sparks chaos at Colombia tourist attraction

Recipe: Duck Larb (Larb Ped)

Mosaic Celebrates 55 Years in Regina

Israel vows to prevent an aid boat carrying Greta Thunberg and other activists from reaching Gaza

Edmonton bar puts its own vintage spin on Stanley Cup final

Canada-Europe defence ties can link ‘club of countries,’ says German envoy

‘Uphill battle’: Criminal Code must include definition for femicide, advocates say

Military deploys to support northern Ontario wildfire evacuations

Iran expands dog walking ban

What to know about the LA protests as Trump deploys National Guard

Drip-fed aid, a starving population and the most air strikes since October 7: Gaza’s growing crisis in numbers

Israeli military ‘will do whatever it takes’ to stop Greta Thunberg’s ‘Freedom Flotilla’ reaching Gaza as boat nears

Where Does Syria’s Political Transition Stand?

New Chinese embassy in London likely to be blocked, says former MI6 boss

Everything we know about Reeves’s spending review – and the tax rises that loom

How likely Waspi women are to win their High Court battle for compensation

Bath vs Leicester is the perfect answer to rugby’s breakaway circus