Big companies are collecting billions in tariff refunds and keeping the price hikes, while Trump floats a tax cut that mostly helps wealthy retirees — bad news for regular consumers.

• The Supreme Court struck down Trump's tariffs, so companies like Apple, Nike, FedEx and Amazon are getting billions back — Apple alone about $2.2 billion.
• Consumers who paid the higher prices are getting nothing back, and prices on tariff-hit goods like strollers and car seats have not come down.
• The refunds are padding quarterly earnings at a time when corporate profits already eat a record share of the economy.
• Trump is considering cutting capital gains taxes and exempting home sales up to $2 million — a windfall for rich retirees who own most of the stocks and the expensive houses.
• The Treasury is also scrapping the rule that forced business owners to disclose who really owns their LLCs, and deleting the existing registry that law enforcement used to trace money laundering.

Outlook: More refund money will flow to big companies in the months ahead, and the tax and disclosure changes look set to widen the gap between wealthy asset owners and everyone else.