The U.S. is becoming a tax haven because Donald Trump made it easier for rich people and big companies to hide their money, pay less tax, and avoid rules that used to keep things fair and open.
Donald Trump’s actions are making the U.S. a top destination for the rich to avoid taxes. His administration stopped sharing information about who owns companies, pulled out of global tax agreements, and allowed cryptocurrency and shady money flows to grow with little oversight.
Pulling out of global tax agreements means the U.S. stopped working with other countries to make sure the rich and big companies pay fair taxes everywhere. It’s like quitting a team that fights tax cheating across borders.
Instead of following normal laws and processes, Trump and his team ignored rules, broke agreements, and cut taxes mainly for billionaires.
He believed tariffs (taxes on imports) would bring back American jobs and reduce trade deficits. But in reality, these tariffs raised prices for Americans and hurt the economy. The tax cuts also made the deficit worse because they reduced how much money the government collects.
These tax cuts, like those under President Reagan, didn’t lead to more jobs or economic growth. Instead, they made the rich even richer and increased inequality.
Trump also weakened important U.S. industries like tourism, education, and healthcare by restricting immigration and cutting science funding — hurting major sources of income for the country.
Meanwhile, the IRS was weakened by cutting jobs, leading to less tax collection and more people getting away with not paying taxes. Trump even supported cryptocurrencies that help hide money, and placed pro-crypto people in key government roles.
This approach looks like an effort to build a system that favors secrecy and protects wealth at the top. As the U.S. pulls away from global efforts to stop tax evasion, other countries may now work together more effectively without U.S. interference, aiming to build a fairer global tax system.
