- Joined
- Jun 18, 2018
- Messages
- 81,863
- Reaction score
- 86,904
- Gender
- Male
- Political Leaning
- Progressive
"Former President Donald Trump is the kind of salesman no successful businessperson can stand. He’ll promise the world, only to deliver “concepts of a plan.” His economic agenda is a shortsighted mash of policies that scores of top economists and business leaders predict will add up to higher inflation, less stability and lower growth.
Tariffs are Trump’s catch-all economic prescription: He promises duties of up to 20% on all imports — and 60% (sometimes even more) on Chinese goods. The upshot is obvious: Americans will pay more. Inflation, which the Joe Biden-Kamala Harris administration has decidedly tamed, will climb back. As other nations inevitably retaliate with tariffs on US goods, our exports will suffer. Big businesses will struggle; small businesses will go under.
Trump’s plan to deport tens of millions of workers — some of whom he seems to acknowledge would be legal immigrants — would have similar inflationary effects. Constraining the labor supply at such a critical moment in the post-Covid recovery would be foolish at best — all to suit his flat-earth misunderstanding of how commerce works in the 21st century.
Some argue that Trump’s desired corporate tax cuts would boost the economy. A key question is, do we need that stimulus? The robust Biden-Harris economy hardly does — just look at the record stock market or the low unemployment rate. On the contrary, my worry here is that such cuts rekindle inflation. And if Trump pursues tax plans like last time, which were a bonanza for — guess who — real estate investors, it could distort the broader economy more than help it. The problem with Trump is that he practices grifter capitalism."
US Business Leaders Want Harris’ Stability Not Trump’s Chaos
All of us should.
Tariffs are Trump’s catch-all economic prescription: He promises duties of up to 20% on all imports — and 60% (sometimes even more) on Chinese goods. The upshot is obvious: Americans will pay more. Inflation, which the Joe Biden-Kamala Harris administration has decidedly tamed, will climb back. As other nations inevitably retaliate with tariffs on US goods, our exports will suffer. Big businesses will struggle; small businesses will go under.
Trump’s plan to deport tens of millions of workers — some of whom he seems to acknowledge would be legal immigrants — would have similar inflationary effects. Constraining the labor supply at such a critical moment in the post-Covid recovery would be foolish at best — all to suit his flat-earth misunderstanding of how commerce works in the 21st century.
Some argue that Trump’s desired corporate tax cuts would boost the economy. A key question is, do we need that stimulus? The robust Biden-Harris economy hardly does — just look at the record stock market or the low unemployment rate. On the contrary, my worry here is that such cuts rekindle inflation. And if Trump pursues tax plans like last time, which were a bonanza for — guess who — real estate investors, it could distort the broader economy more than help it. The problem with Trump is that he practices grifter capitalism."
US Business Leaders Want Harris’ Stability Not Trump’s Chaos
All of us should.