Trump and Republicans want to wreck your bank account. 

Here are 5 things you need to know about Trumponomics.

1. Trump wants tax cuts for the rich, at your expense.

TRUMP: You’re rich as hell! // We’re going to give you tax cuts.

Trump’s tax cuts for the rich and big corporations added about $1.7 trillion to the national debt, with few benefits trickling down to the middle class — in fact, it raised taxes for more than 10 million American families.

Now Trump and Republicans want to make the tax cuts for the rich permanent, blowing up the debt even further. And then they’ll use that debt to justify this:

2. Trump would cut Social Security and Medicare — programs you’ve been paying into!

TRUMP: There is a lot you can do in terms of entitlements, in terms of cutting.

That’s your money Trump’s talking about cutting into! Since saying that, he’s tried to walk it back, but look at his record. In every year of his presidency, Trump submitted a budget that tried to cut Social Security and Medicare. And he knows that’s the only way he can even begin to pay for extending his tax cuts for the rich.

3. Trump would send health care costs soaring.

Republicans have committed to repealing the Inflation Reduction Act, which would strip Medicare of the ability to negotiate drug prices, and let Big Pharma send the price of insulin and other life-saving medicines back through the roof.

And Trump is still fixated on repealing Obamacare, with no plan to replace it.

TRUMP: Obamacare is a disaster. We’re gonna do something about it.

That would strip coverage from tens of millions of Americans, drive up premiums, and let insurers charge more or deny coverage to people with preexisting conditions.

4. If you’ve got student debt, you’re out of luck with Trump.

In contrast to President Biden, who’s canceled more than $143 billion of student debt so far, Trump is against student debt relief. In his first term, he tried to eliminate the popular Public Service Loan Forgiveness program for people like teachers and nurses, and he’s called the idea of debt relief “unfair.”

What’s unfair, is how student debt hurts not just the roughly 40 million Americans burdened by it, but the entire economy, since Americans with debt have less money to spend, are less likely to start a business, less likely to buy a home, and more likely to rely on government assistance.

5. Trump would make inflation worse.

One of Trump’s signature policies would drive up the price of all kinds of goods.

BARTIROMO: The Washington Post is saying you’re talking about 60% tariffs on Chinese goods. Is that in the cards?TRUMP: No, I would say maybe it’s going to be more than that.

Trump seems genuinely confused about what tariffs are and who pays them. 

TRUMP: We are taking in billions and billions of dollars in tariffs that China is paying for.

Nope. Tariffs are not paid for by the other country. They’re paid by the American importer, with the cost typically passed onto the American consumer, as even Fox Business pundits have to admit.

FOX BUSINESS PUNDIT: Remember, a tariff is a tax. A tariff is a sales tax.

Trump is talking about making you pay a 60% or more tariff on anything imported from China, a 100% tariff on Chinese cars, and a 10% tariff on anything imported from anywhere else, which the conservative Tax Foundation estimates would cost Americans at least an extra $200 billion a year.

And this is a regressive tax, taking a higher percentage of the paychecks of the working class and poor than out of the incomes of the wealthy.

The MAGA agenda would make nearly every aspect of your life more expensive, while making the richest Americans even richer.

Teddy Roosevelt’s economic plan was called the Square Deal. Franklin Roosevelt’s was the New Deal.

What Trump is offering is simply a Raw Deal.