Now that "tax reform" is next on the legislative agenda, the first major overhaul since Reagan, it is necessary to remember that Trump did not campaign on being another "tax cuts for the rich" Republican. So while there may or may not be a tax cut for the rich, which would be nothing new, there will be some kind of tax on foreigners and foreign stuff.
The foreign tax could be on the goods and services in off-shored industries (a tariff), beefed up fees for applying for visas, taxing remittance payments made from within the US, a rise in income tax rates on legal immigrants, setting up an explicit tax to levy on foreign nations whose military defense we provide, and so on and so forth.
We hold the cards here because we are not an export economy, meaning retaliatory tariffs have few targets of ours to hit. Americans are less inclined to live and work in foreign countries, compared to vice versa. No Americans send remittances back here. Hardly any of us work abroad where our incomes could be taxed even higher than now. And nobody but Uncle Sam provides our military defense.
If the rest of the world is so much more dependent on us than the other way around, we can easily tax the hell out of them and they'll still profit by interacting with us.
Trump has mentioned this logic here and there, but never really spelled it out. In short, we do not need to raise taxes on ourselves in order to pay down the debt or spend on ourselves, such as welfare and other entitlement programs. It would be far more palatable to the American people if we paid for government goodies by levying charges of all kinds on non-Americans who need us far more than we need them.
This is how Trump plans to cut the Gordian knot of not-taxing and spending. We'll cut taxes on ourselves, and spend more on ourselves / pay down the debt, by charging foreigners out the ass to be a part of the American network.
An earlier post warned not to expect too much populism unless it also intersected with nationalism. It's still true that those are the most promising areas for change. The new system of "tax foreigners to pay for American welfare" is not a conceptual intersection between nationalism and populism, but at least a procedural one.
"But how are we going to afford President Trump's lifelong dream of a single-payer healthcare system?" Easy -- tax foreigners some more! Foreigners are not the root cause of our disastrous healthcare system, so it is not naturally an Us vs. Them issue. However if we can fix our healthcare mess by making Them pay up big-league for interacting with us, then that's enough of an intersection between nationalism and populism.
Seriously: expect that to be the answer to any furrowed-brow reporter asking Sean Spicer, Steve Bannon, or the God Emperor himself, "But how are we going to PAY for that?" Higher taxes on foreigners!