Photo by Ninian Reid | CC BY 2.0
DONALD TRUMP: We are transferring power from Washington, D.C. and giving it back to you, the people.
CROWD: (applause)
DONALD TRUMP: For too long a small group in our nation’s capital has reaped the rewards of government while the people have borne the cost. Washington flourished but the people did not share in its wealth.
SHARMINI PERIES: On to discuss with me Trump’s infrastructure plan is Michael Hudson. Michael has a new book out, “J is for Junk Economics: A Guide to Reality in the Age of Deception” (February 2017). Michael is a Distinguished Professor of Economics at the University of Missouri, Kansas City. Thanks for joining us, Michael.
MICHAEL HUDSON: Good to be here.
SHARMINI PERIES: So, Michael, that first, I think it’s the third or fourth paragraph in, where he really talks about the establishment, how it benefitted Washington, I would think you would have objection to that.
MICHAEL HUDSON: Well, the establishment Trump talked about wasn’t really Wall Street. He said, “When Washington got rich.” Bernie Sanders would have said, “When Wall Street got rich, the country didn’t.” So I think when Donald Trump says “Washington,” what he means is the government regulatory agencies. He’s going to cut them back. And what he means is that the IRS, the tax collectors, he’s going to cut them back by cutting taxes on all the Americans, meaning all of the 1% that are his Americans.
So, basically, you’re…