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The Rich get Richer, and You? You get Bupkis! [1]
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Date: 2025-04-09
The Rich get Richer, and You? You get Bupkis!
Bupkis is a technical, economic term. It’s Yiddish for “nothing.” And it perfectly captures what Donald Trump and the Republican Party are offering most Americans with their continued push to extend the 2017 tax cuts.
Yes, the average American saw a small tax reduction under the Tax Cuts and Jobs Act (TCJA). But those were crumbs compared to the piles of cash shoveled to the ultra-rich—funded by adding trillions to the national debt. That’s the same debt Trump once promised to eliminate in his first term.
When I think of shoveling money to the rich, I picture Scrooge McDuck swimming in his money pit. A Walt Disney creation from 1947, Scrooge McDuck was a charming “ad-venture capitalist” who softened public perceptions of extreme wealth for generations. But unlike cartoon ducks, real billionaires are not lovable or heroic. They hoard wealth while the rest of us are left scrambling for what’s left.
On December 23, 2017, Trump signed the Tax Cuts and Jobs Act (TCJA) into law, which reduced the corporate tax rate from 35% to 21% and lowered individual income tax brackets. That same night at a Mar-a-Lago holiday dinner, Trump told friends, “You all just got a lot richer.” (Source:
https://www.cbsnews.com/news/trump-mar-a-lago-christmas-trip/)
The tax agenda of Trump’s first term is now being repackaged for a second. It was wrong then, and it’s wrong now. If you’re not convinced, just ask Gini.
The Gini index—a measure of income and wealth inequality—was developed in 1912 by Italian statistician Corrado Gini. A Gini score of 0 reflects perfect equality; 1 represents absolute inequality. In 1963, the U.S. scored 0.376. By 1980, it had dipped to 0.347, suggesting a fairer distribution of income. But since then, inequality has steadily worsened. By 2023, the U.S. Gini index hit 0.470—alarming territory.
Trump wants to annex Canada. We would be better off if we became a province of Canada since their Gini for 2025 is projected to be 0.33. (Source:
https://www.statista.com/outlook/co/socioeconomic-indicators/canada0) Likewise, in 2023, the European Union had a Gini of 0.296. (Source:
https://indicators.be/en/i/G10_GIN/Income) The message is clear: if inequality is the game, Americans are losing. And the result is a declining quality of life for the majority.
It gets worse. The wealthy not only benefit from low tax rates—they also exploit loopholes. According to a 2024 OECD report, the 400 richest Americans had an effective tax rate of just 9.6% when unrealized capital gains were included. (Source:
https://www.oecd.org/content/dam/oecd/en/publications/reports/2024/07/taxation-and-inequality_b7cf450c/8dbf9a62-en.pdf?utm_source) Meanwhile, nearly 50 companies in the S&P 500—including Tesla, 3M, and Airbnb—paid no income tax in 2023. (Source:
https://www.investors.com/etfs-and-funds/sectors/sp-500-companies-paid-no-tax/)
Trump’s supposed populism is a sham. His administration is packed with 13 billionaires and countless ultra-wealthy appointees. (Source:
https://www.oklahoman.com/story/opinion/columns/guest/2025/03/18/trump-musk-americans-struggle-economy-tax-rich-medicare/81171722007/)
The public is not fooled. An October 2024 Reuters/Ipsos poll asked how important is “The growing gap between the wealthy and average Americans?” The results: 73% for all Americans, 62% for Republicans, 91% for Democrats, and 77% for Independents. It then asked which candidate has the best approach to this gap. Yet only 32% believed Trump had the best plan to fix it, while 39% favored Kamala Harris. (Source:
https://www.ipsos.com/en-us/how-americans-feel-about-us-rising-income-inequality) Now we know the actual results: 0% for Trump and 100% for Harris.
Reuters/Ipsos also reported that most Americans across party lines also believe the wealthy have too much influence over the government and the White House. (Ibid.)
This frustration erupted in protests on April 5, 2025, where demonstrators at over 1,400 “Hands Off” protests nationwide urged Trump and Musk to keep their hands off Medicaid, Medicare, and SocialSecurity—and “our wallets.” But just protecting our wallets isn’t enough. We must demand that the ultra-wealthy open theirs.
Their hoarded wealth—acquired through tax avoidance and political influence—has hollowed out America’s middle class.These billionaires have more money than they could ever spend, yet their greed has left much of the country struggling. It’s time for real redistribution—not just of wealth, but of opportunity, security, and hope.
Their hoarded wealth gives us a combination of a plutocracy and an oligarchy. A small group of ultra-wealthyindividuals—plutocrats—wield outsized influence over politics, policy, and public opinion through campaign donations, lobbying, and media ownership. This concentration of power creates an oligarchic system where the interests of the wealthy dominate while the voices of ordinary Americans are ignored. Our democracy is in name only because it is controlled by money and elite privilege.
Here’s what the investment in the common good should include:
1 Modern Infrastructure – Repair roads, bridges, water systems, transit, electric grid, etc.
2 Climate Change Mitigation – Transition to clean energy and climate-resilient infrastructure.
3 Universal Education – Fund pre-K, community college, trade schools, and universal childcare.
4 Universal Healthcare – Expand coverage through Medicaid or other national programs.
5 Affordable Housing – Build and preserve affordable homes and support homelessness prevention.
6 Good Jobs & Labor Rights – Launch public jobs programs and protect workers.
7 Tax Reform – Tax extreme wealth, close loopholes, and end corporate tax avoidance.
8 Democratic Reforms – Limit wealth’s influence and expand voting rights.
While the Democratic Party is focusing on flipping at least 36 seats in the House, meaningful change requires a dramatic shift in the Senate to create a significant Democratic majority. We have suffered because of do-nothing Republican congresses for more than a decade and a U.S. Supreme Court that favors the elite with rulings that they know Congress will not correct through new legislation. We must erase the party of Trump if America is to have any chance of rebuilding.
If we do nothing, we’ll keep getting bupkis—while billionaires swim in gold like cartoon ducks. But America isn’t acomic book. It’s a nation with roads that need rebuilding, kids that need education, and families that need healthcare and homes. We must demand a tax system that serves the people, not just the plutocrats. The time for crumbs is over. It’s time to reclaim the whole loaf—for all of us.
Day 79: days left to January 20, 2029: 1,382 days
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