Mr Incorruptible

After spending months scolding his rivals for being beholden to their financial backers, Donald Trump unveiled an economic advisory council last week — and filled it with some of his biggest donors.

Of the 13 men — and they are all men — that Trump touted as economic advisers for their “unparalleled experience and success,” five are major donors whose families combined to give Trump’s campaign and his joint fundraising account with the Republican Party more than $2 million. Two more have been pursued for campaign contributions.

Steve Deace, an influential conservative activist in Iowa and anti-Trump radio host, said he was not surprised that Trump was granting his biggest donors titles and insider access. But he was still angry.

“It is complete and total hypocrisy,” Deace said.

“He got a lot of mileage out of taking advantage of a lot of low-information voters who are rightfully frustrated that government left them behind,” Deace said of Trump’s claims during the primary that he was a self-funding billionaire who could not be bought. “They were an easy mark for a P.T. Barnum con man.”

Trump’s new economic team leans heavily on Wall Street investors and hedge-fund managers, despite Trump's railing against them during the early parts of his presidential campaign.

“The hedge fund guys didn't build this country. These are guys that shift paper around. And they get lucky," Trump said last year on CBS’ "Face the Nation." "Look, they're energetic. They're very smart. But a lot of them, it's, like, they're paper pushers. They make a fortune. They pay no tax. It's ridiculous, OK?"

Per Bloomberg news, Trump will emphasize a freeze on new rules for banks and a repeal of the inheritance tax on estates larger than $5.45 million. The relief washing over the unemployed, er, bankers, must be palpable.
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It’s also desperate for big-dollar fundraising from the wealthy so his campaign can compete with Clinton’s, which is reflected in his decision to appoint his billionaire backers as economic advisers, his scramble to bring wealthy donors back to the table, and now today’s speech touting the interests of the financial class.

To be sure, Ivanka must have gotten her hands on a draft, because Trump will also propose making all child-care expenses tax deductible. And he is expected to maintain his opposition to the Trans-Pacific Partnership, which should play well in auto country, where unions and companies alike feel the deal isn’t tough enough on their Asian competitors.

But cancelled trade deals won’t bring back the low-skill jobs that left the US rust belt. And Trump is expected to propose corporate tax reforms, including a 15% corporate tax rate and new protections for intellectual property, that together with his his plan for tax cuts on big earners, would shift even more of the tax burden on to the middle class.