When 16 Nobel Prize winning economists warn the U.S. about Trump's economic incompetence, people should take this seriously.
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Sixteen Nobel prize-winning economists are jumping into the presidential campaign with a stark warning:
Former President Trump's plans would reignite inflation and cause lasting harm to the global economy if he wins in November.
Why it matters: The Nobel laureates are lending their academic prestige to a political argument the Biden administration has been making for weeks: Inflation
would be worse under Trump.
"While each of us has different views on the particulars of various economic policies, we all agree that Joe Biden's economic agenda is vastly superior to Donald Trump," the 16 economists write in a letter, first obtained by Axios.
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I attempted to read your article but failed to read anything specific as to why Trumps plans would be so much worse than Bidens. It just looks like pure political bull shit with ads popping up everywhere. The only thing your article said remotely tangible was that most people believe we are in a recession right now.....but that we really aren't. The definition of a recession used to be pretty obvious and agreed by everyone, yet since we live in the no truth virtual world now (especially government reporting and fed manipulations)you can not know whether we are in a recession or not. The only thing I know for certain about he economy is what I can observe first hand. My 401k account is doing great right now, as would be expected during while a president reality show is underway. When I eat out I notice super high prices and hardly any people at the restaurants, especially the fast food joints likes Hardy's and Windy's. My employer is slowly but surely shutting down our operations and threatening everyone with lay off during August asking us use up any unused vacation during that time. Profit sharing has been dismal for the past year or so, but before that during Trumps term we got bonus checks almost equal to our base earnings. During the pandemic we were viewed as an essential industry (steel making) and actually ran much better during pandemic than we do now.
I'm seeing a lot of me, me, me in that post. The article was pretty clear and straightforward. Frankly, my bet is you didn't even read the article because there were no pop up ads, no ads at all. And I turned off my ad blocker to be sure.
Although your article was worthless, I have otherwise read specific differences between Trumps proposed economy and Biden proposed economy. Trump wants to eliminate income tax and replace that money lost with tariffs. According to Arthur Laffer:
https://en.wikipedia.org/wiki/Arthur_Laffer Trump was the best president for the US economy ever during his career. Prevailing economic theory is that whatever gets taxed always causes less of that and that does sound reasonable to me. That should imply no income tax will cause individual productivity to thrive and people wanting to work. OTOH the tariffs will cause cheap China goods not to bought. So less Chinese crap and then less garbage that immediately breaks thrown into landfills. Logically Trumps plan will produce more productivity in the US and less cheap crap coming from China but would his plan actually do this? I don't know, and I doubt we will ever find out. Because it will never be possible to eliminate the fed income tax at this point since there are too many vested lawyers and accountants who will lose their jobs without it.
The proposal by the donald to swap taxes for tariffs is almost impossible. It would certainly make the great depression look like a party.
And if we produced all of our goods and imported nothing then the government would have no revenue at all. So we then go back to taxes. Clearly this is a proposal that has not been thought through. It's something for that MAGAts to think is great. And then you have idiots like Laffer, the most disgraced economist of the last century. weighing in. The Clinton administration soundly disproved Laffer's trickle down conjecture (I won't call it a theory).
In the final analysis I expect no difference to our economy who gets elected. Even though Trump has the best plan and vision, this means nothing since none of it will ever be accomplished. And we know this because he demonstrated 4 years of bragging but never doing anything he promised. Trump will again surround himself with the usual back stabbers and establishment (included the Democratic party)
who will ensure nothing good ever gets done.
Really? What exactly is Trump's plan and vision?
Backstabbers? They were, according to Trump, the very best people. Now most of them say Trump should never be near another elected office. Here is a not all inclusive list.:
Vice President Mike Pence
Former attorney general William P. Barr
White House chief of staff John Kelly.
Former defense secretary Mark T. Esper
Former White House aide Cassidy Hutchinson
Former White House counsel Ty Cobb
Former U.S. National Security Adviser John Bolton
Former secretary of defense James 'Jim' Mattis, a retired four-star general nicknamed 'Mad Dog'.
Former chairman of the Joint Chiefs of Staff Mark Milley
White House director of strategic communications and assistant to the president Alyssa Farah Griffin
And I repeat the question because I really want to know, What exactly is Trump's plan and vision?