Trump Is No Longer Pretending to Fight Corporate Power

In a surprising turn of events, President Donald Trump seems to have abandoned his facade of fighting corporate power. Throughout his campaign and early presidency, Trump positioned himself as a champion of the working class, promising to take on big business and bring jobs back to America. However, recent actions and statements from the president suggest that he has abandoned this rhetoric in favor of cozying up to corporate interests.

One of the most glaring examples of Trump’s shift in stance on corporate power is his administration’s recent decision to roll back regulations on big banks. In May 2018, Trump signed into law a bill that loosened regulations put in place after the 2008 financial crisis to prevent another economic meltdown. The bill, known as the Economic Growth, Regulatory Relief, and Consumer Protection Act, relaxes rules for small and medium-sized banks, but also includes provisions that benefit larger banks like Citigroup and JPMorgan Chase.

This move was a stark departure from Trump’s campaign promises to hold Wall Street accountable and reign in the excesses of big banks. Instead of taking on corporate power, Trump has chosen to align himself with the very institutions that he once criticized.

Furthermore, Trump’s tax reform bill, which was passed in December 2017, also heavily favored corporations and the wealthy. The bill slashed the corporate tax rate from 35% to 21%, a move that was celebrated by big business but criticized by many as a giveaway to the rich. In addition, the bill included provisions that benefited real estate developers like Trump himself, further blurring the lines between the president’s personal interests and his policy decisions.

In light of these actions, it is clear that Trump is no longer pretending to fight corporate power. Instead, he has embraced the interests of big business at the expense of the American people. This shift in stance has disappointed many of Trump’s supporters who believed his promises to stand up for the working class and hold corporations accountable.

It remains to be seen how Trump’s abandonment of his anti-corporate rhetoric will impact his presidency and his reelection prospects. But one thing is certain: Trump’s actions have exposed him as a president who is more interested in serving the interests of corporate elites than in fighting for the average American.