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EN
Trump’s Truth Social Subscription Scheme Functions Like a Tax on Your 401K
['Dean Baker', 'Sharon Zhang', 'Chris Walker', 'Nick Fulton', 'Anna Maria Barry-Jester', 'Sharon Lerner', 'Candice Norwood', 'S. Baum', 'Stephen Zunes', 'Jake Johnson']
Truthout
Trump is starting a new special subscription service to his social media platform, Truth Social, where big investors will pay $100,000 a month for advance access to Trump posts that can move markets.
There are an infinite number of ways that Trump Truth Social announcements can move markets.
If it’s not clear how Trump’s scheme amounts to a tax on your 401(k), think more carefully.
That’s roughly a fourth of Trump’s 401(k) tax.
So, 401(k) holders and other small investors are paying a considerable chunk of money through this “tax” to Trump and his enrolled insiders.