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Cutting taxes for the rich, raising taxes for the poor and increasing the national debt is an economic plan in the same sense that sitting on the couch eating frosting from a can is a diet and exercise plan.
I grow more convinced all the time that the Republicans and their wealthy cronies and patrons are actively and deliberately destroying the US.
The actual plan is to steal as much value as possible, ultimately triggering economic collapse, which they'll ride out in security and privilege somewhere else (Greenland, for instance). Probably engineer a war or two along the way too. And between the economic collapse, the wars and the destruction of the healthcare system, they'll cause the deaths of many millions of people.
Then, when things are at their worst, they'll move back in, with mercenary armies, claim literally everything, and rebuild the US as essentially a feudal state, with the wealthy few owning everything and everyone else reduced to the status of serfs.
That's because they ARE trying to destroy the US. We can get into the political-social-economic theory driving it, but the tl;Dr is that thanks to Reaganism and the post-USSR embrace of Friedmanist economics, the US has functionally ceded its governing capacity to the wealthiest few citizens. It's done so slowly and steadily enough that nobody really noticed, but we're now at an inflection point where the wealthy are ready to try Feudalism 2: we swear it'll be better this time because we're the ones doing it.
This is literally, unironically, and without exaggeration what is happening.