This article analyzes Donald Trump's economic policies, characterizing them as a deliberate attempt to dismantle institutional safeguards and promote the unchecked accumulation of wealth and power. Key actions highlighted include withdrawing from international transparency agreements, abandoning negotiations for a global tax treaty, weakening the enforcement of the Foreign Corrupt Practices Act, and deregulating the cryptocurrency market.
Trump's administration has actively undermined international efforts towards fairer taxation. This includes:
These actions, the article argues, demonstrate a pattern of dismantling multilateral structures designed to combat tax evasion and money laundering.
The article argues that Trump's policies, particularly tax cuts for the wealthy, are increasing the US trade deficit and exacerbating economic inequality. It's also highlighted that weakened enforcement of tax regulations, potentially leading to a significant decrease in tax revenue.
The article points out Trump's embrace of cryptocurrency, suggesting it's linked to the pursuit of secrecy and facilitation of illicit financial activities. The appointment of a cryptocurrency-friendly figure as head of the SEC further underscores this concern.
Despite the US's withdrawal from international agreements, the article suggests that this could paradoxically create opportunities for other nations to pursue more ambitious global tax reforms without US influence.