Everyone Is Going to Be Worse Off After Trump but the Rich: Report

A new report from the Center for American Progress projects that the Trump administration’s economic policies will leave all but the wealthiest Americans worse off financially.

According to the nonpartisan policy institute, by 2027, Trump’s tariffs and policies under his so-called One, Big, Beautiful Bill will have decreased the incomes of all but the top 1 percent of American households—which will be $5,000 richer, per the report.

Meanwhile, the 90–99 percent will lose about $675 and the bottom 20 percent will be $1,650 poorer. Groups in between will see losses ranging from $1,300 to $1,800.

But four years from now, the situation will reportedly be even more dire.

By 2029, “Americans at all income levels will have lighter pocketbooks, on average, than they would under a scenario in which the Trump administration’s policies were never implemented.” Even the incomes of the top 1 percent are projected to be $2,647 lower, with income groups within the other 99 percent of Americans suffering losses between $1,920 and $3,356.

While the administration touts its economic policies as major wins for the working and middle class, the “Trump effect” is apparently poised to benefit only the wealthiest Americans—and, even then, just in the short term.