Nobel Prize winning economist: Trump policies bad for the poor

A Nobel-Prize winning economist on Friday said President Trump’s policies are not “good” for income inequality and will likely benefit the wealthy. 

“I don’t think any of it is good,” Angus Deaton told Reuters in an interview, referencing how Trump’s policies will affect income inequality.

“A rising inequality that probably wouldn’t have bothered people before does become really salient and troublesome to them (during periods of low growth). It poisons politics too because when there are no spoils to hand out it becomes a very sharp conflict,” said Deaton. 

{mosads}Trump’s tax reform plan, which was released in April, lowers the corporate tax rate from 35 to 15 percent. The president in a recent interview said he “may align” his tax reform and infrastructure agendas.

Deaton, who in 2015 won the Nobel Prize in economics for his work on poverty, said Trump’s proposals to ease financial regulations would largely benefit corporate special interest groups.