4 Reasons a Trump Second Term Could Be a Financial Disaster for Boomers

Contributing sentiments towards policy:

64% : This includes ineffective tax cuts that favored corporations and the wealthy, plus tariffs and trade deals that failed to recover all of the lost factory jobs, per the Associated Press.
63% : An April poll from the Associated Press-NORC Center for Public Affairs revealed Americans believed Trump was better for the economy and that he had helped with job creation and the cost of living in the country.
57% : It remains to be seen what he might do to help the solvency of Social Security.
57% : "Going back to the polls, Americans "overwhelmingly" believe Trump will be better for their finances and the economy, according to CNN.
50% : The U.S.-China Business Council projects that the U.S. economy would contract by $1.6 trillion over five years if Trump presses tariffs.
46% : If we look at just manufacturing jobs, Trump brought 461,000 while Biden added 773,000.
45% : Trump attributes lower inflation to his administration when the evidence points to the pandemic as the cause -- lower gas prices and mortgage rates resulted from a lack of driving and real estate purchases.
45% : "Lower-income households and seniors could find themselves facing challenges if shifts toward deregulation lead to reductions in social support programs or changes to Medicare and Social Security, as has been debated," said David L. Blain, CFA, founder and CEO of BlueSky Wealth Advisors.
44% : Here's My Prediction for Social Security If Biden Wins the 2024 ElectionTrump has expressed a focus on greater tariffs, mass deportation of unauthorized immigrants and more corporate tax cuts.
41% : Trump reportedly is interested in controlling the Federal Reserve, but reduced political autonomy of the Fed historically has resulted in higher inflation rates.
40% : According to Harvard economist Jason Furman, "If Trump undermined [the Fed's] independence and their credibility -- which he has proven he is quite likely to try to do -- that could make it very difficult to keep inflation under control.
34% : While Trump stated the tax cuts would grow at 3%, he further "inflated" expectations, saying the growth could hit between 4% and 6%.
30% : Based on these numbers, Trump offered less job recovery, overestimations and underachieved deficit reduction -- none of which benefits boomers.
4% : Trump and his campaign leaders have said he won't cut Social Security and Medicare, but they also have talked about the "waste" around those programs.

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