Thought Catalog

Is Trump’s Presidency The Next Greatest Ponzi Scheme?

  • 0
Flickr / Gage Skidmore

Hometown boy couldn’t win his home state and lost to a wanna-be New Yorker — but despite the lack of love from the Big Apple, he’s still the president… and his wife is still straining the New York City’s taxpayers who are footing the bill for Trump Tower. That money goes to the Trump organization. Sound familiar? — only if you’re from the city that never sleeps.

Out here in the Midwest, they have no idea who Bernie Madoff is, what a Ponzi scheme is, and Wall Street might as well be like playing the lotto to them. They don’t know that Dodd-Frank was for their protection. Why would they need to know that anyway? Trump campaigned for the white working class in middle America — they have no idea who or what Goldman-Sachs is… they don’t know that Trump has “drained the swamp” with Wall Street executives.

Madoff was such an incredible businessman that he was able to con billions for over two decades; fooling even the SEC, and only being discovered during the financial crisis of 2008 when the economy collapse — and even then it was only because his sons turned him in. If Michael Douglas and Charlie Sheen has taught us anything, it’s never to trust Wall Street or businessmen — unfortunately, most people don’t remember that Academy Award movie anymore. Most people don’t even know Bernie Madoff is a real person and not a Hollywood movie.

Dodd-Frank is gone. Good for Wall Street, bad for us, the consumer. White working class Americans don’t care about that… but they should care. Most of these working class Americans don’t even qualify as “middle income”; but they should expect higher state taxes when the federal government cuts food assistance, Medicaid/Medicare, school budgets, and much more.

Those after-school programs you depended on so that you don’t have to pay for those few hours until you get off work, gone. Earned Income Tax Credit for children, gone. Childcare credit, gone. Tuition credit, gone. Dependent credit, gone. Programs like WIC and food assistance, gone.

The hypocrisy is that Trump supporters in middle America and red states won’t admit that they are the ones that benefit from these services — having been in Iowa these last few years, the only ones at the welfare office I’ve seen are white Americans; yet they blame it on immigrants and minorities. You go to a state like Wyoming, Iowa, Nebraska, the Dakotas (basically any state in the Midwest), the people on public assistance are white Americans. These states also have high levels of teenage pregnancy, unwed mothers and absentee fathers; they are “pro-life” and share Facebook posts about “illegals”, yet they won’t admit they are the ones on SSI, Medicaid, food assistance, WIC, etc.

A state like New York or California will be able to continue to provide state assistance for their residents even with federal cuts because they have the state revenue to do it; but Trump has no love in those states — instead he’s loved in the Midwest and the deep south, where work is scarce. When he said he’ll “create jobs”, those jobs aren’t being created in Middle America.

Those jobs are being created in markets that blue-collar workers aren’t even qualified for. Those jobs are being created for Wall Street execs.

Trump’s supporters praise him for being a successful businessman — but what makes a successful businessman anyway? The ability to sell a lie. TC mark

More from Thought Catalog

Thought Catalog Videos