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Donald Trump’s Tax Plan Would Boost Economy in Short Run but Not Long Term, Analysis Finds
Donald trumps economic plan would worsen the country's economy through extravagant borrowing and lower economic growth in the long run. Because it lowers taxes by 15 percent without any paired cuts Trump's plan would worsen the deficit, so that large debt would hurt the economy in the long run. Clinton's plan would increase taxes by 4 percent largely on high incomes so as not to hurt consumer spending, with paired spending to help lower income households. Because Trump's tax cuts benefits go disproportionately to higher incomes the benefits in terms of consumer spending are slight or insignificant. In the current state of weak income gains of the last ten years it would take some time for the middle and working class to recover. Clinton's plan carefully nudges that recovery forward without aggravating the debt, so that as incomes and net worth recovers across broad parts of the population, the U.S. is poised to go forward with strong growth as in the postwar years. Trump's plan frontloads tax benefits to higher incomes at the expense of worsening debt and enlarging future debt. In the process it worsens income disparities already aggravated by the 2008 financial crisis. Reducing the chances of a broad based recovery for all parts of the population, necessary for a strong recovery.
Trump's economic plan and how it increases the U.S. deficit by $5.3 trillion
09/22/2016
The sharp contrast between the Trump economic plan which is very unusual for a Republican candidate in that it substantially increases the U.S. debt by $5.3 trillion, and the Clinton economic plan which only modestly increases the deficit by $200 billion. The impact is about one fourth increase of the national debt of $19 trillion under Trump and only 1% under Clinton's economic plan, according to the Office of Management and Budget.
Grouped Articles
New Clinton, Trump budget numbers
POLITICO 09/22/2016
Donald Trump’s Plans Would Add $5.3 Trillion to the National Debt
Fortune 09/22/2016
Clinton Seeks Big Jump in Estate Tax
WSJ 09/22/2016
Donald Trump’s Tax Pitch Could Miss Trade’s Strike Zone
WSJ 10/05/2016
Donald Trump’s Tax Plan Would Boost Economy in Short Run but Not Long Term, Analysis Finds
WSJ 10/17/2016
Donald Trump’s Economic Plan, Up Close, Doesn’t Add Up
WSJ 10/18/2016
Donald Trump's economic advisory team with John Paulson, and many businessmen from the hedge funds and financial industry- at odds with the image of being with Main Street
08/05/2016
The 2008 financial crisis hurt the prospects of older white Americans who faced higher unemployment. It also led to the rescue of the financial industry and rates dropping to zero hurting the savings of ordinary Americans, and as the FDIC's Sheila Bair pointed out not much done to rescue homeowners under water. During the 2008 election candidates John McCain and Barrack Obama, both had connections to the real estate and financial industry, to lobbyists for Fannie Mae and Freddie Mac, as cited in the media. This time is no different with Clinton and Trump both having connections to Wall Street yet seeking the support of ordinary Americans hurt by the 2008 financial crisis. The only difference is that Clinton faces a movement within her party led by Bernie Sanders that calls for a different approach this time. There is also little difference between the economic team that Jeb Bush put together in its connections to Wall Street with Columbia University Business School Dean Hubbard and that of Trump.
Grouped Articles
Donald Trump’s new team of billionaire advisers could threaten his populist message
Washington Post 08/05/2016
Donald Trump, Hillary Clinton Spar Over Economic Proposals
WSJ 08/09/2016
Trump’s Empire: a Maze of Debts and Opaque Ties
The New York Times 08/20/2016
If Trump Gets His Way, Real Estate Will Get Even More Tax Breaks
The New York Times 09/01/2016
Where Hillary Clinton and Donald Trump Stand on Wall Street
WSJ 09/16/2016
New Clinton, Trump budget numbers
POLITICO 09/22/2016
Long term negative effects of Trump's economic plan for the U.S. in contrast to positive long term effects of the Clinton plan
10/18/2016
With huge borrowing and estimated at $5.3 trillion deficit Trump's economic plan has negative long term effects. It is also vague and absent many necessary details. The Clinton economic plan has positive long term effects, is careful with the deficit, and spells out the specifics. Clinton's economic plan helps to reduce wide wealth disparities pointed out by Fed chairman Janet Yellen, and increases societal integration of less advantaged groups. While the Trump Plan aggravates social tensions by increasing the share of the national income going to the wealthy at a time when unprecedented wealth disparities exist in American society.
Grouped Articles
Donald Trump’s Tax Plan Would Boost Economy in Short Run but Not Long Term, Analysis Finds
WSJ 10/17/2016
Donald Trump’s Economic Plan, Up Close, Doesn’t Add Up
WSJ 10/18/2016
Taxes Under Trump: Almost Everyone Pays Less and the Richest Pay a Lot Less
WSJ 12/02/2016
The Economy’s Hidden Problem: We’re Out of Big Ideas
WSJ 12/06/2016
Will the Trump Era Bring Higher Interest Rates? Don’t Count On It
The New York Times 12/14/2016
Aging Population, Stagnant Productivity Challenge Donald Trump’s Growth Plan
WSJ 12/04/2016
The Trump economic plan
10/05/2016
Grouped Articles
Donald Trump’s Tax Pitch Could Miss Trade’s Strike Zone
WSJ 10/05/2016
Donald Trump’s Tax Plan Would Boost Economy in Short Run but Not Long Term, Analysis Finds
WSJ 10/17/2016
Donald Trump’s Economic Plan, Up Close, Doesn’t Add Up
WSJ 10/18/2016
Taxes Under Trump: Almost Everyone Pays Less and the Richest Pay a Lot Less
WSJ 12/02/2016
Aging Population, Stagnant Productivity Challenge Donald Trump’s Growth Plan
WSJ 12/04/2016
Opinion: Trump in offside position | Business | DW.COM | 12.01.2017
DW.COM 01/12/2017
Jim Vandehei of Politico on the difference between destructive disruption and constructive disruption that brings new ideas and leaves a better world
04/26/2016
Vandehei says most of the ideas used in the campaigns of Trump and Sanders are not new, and the effects of the 2008 financial crisis have been covered widely in the press. That the elites have ignored it, and Tump and Sanders have capitalized on this, does not mean America cannot come up with its own constructive ideas to solve existing problems than take risks going into the unknown. Both Trump and Sanders have drawn attention to the problems of poverty, working class Americans, trade, and wages, but lack constructive programs that would work. A 45% tariff on imports would not work, and poverty is bettter tackled with a growing global economy and private sector initiative. He says he is from two small towns, Oshkosh, Wisconsin, and Lincoln, Maine, and knows what it is like for ordinary Americans struggling to make it.
Grouped Articles
Bring on a Third-Party Candidate
Wall Street Journal 04/26/2016
What Donald Trump Learned From Joseph McCarthy’s Right-Hand Man
The New York Times 06/20/2016
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
Trump’s Empire: a Maze of Debts and Opaque Ties
The New York Times 08/20/2016
New Clinton, Trump budget numbers
POLITICO 09/22/2016
Donald Trump’s Tax Plan Would Boost Economy in Short Run but Not Long Term, Analysis Finds
WSJ 10/17/2016
Sharp contrast between the Trump and Clinton economic plans- Trump's negative in the long run, Clinton's positive in the long run
10/18/2016
Economic experts look at the Trump and Clinton economic plans, Trump's based on extreme borrowing and Clinton's careful about deficits. Trump's plan aggravates the wide disparities in income in America after the tech booms and Clinton's reduces these disparities. Clinton's preserves global trading system while addressing the problems, Trump's moves in the direction of protectionism and high tariffs with potential unintended consequences for the global economy.
Linked Articles
Donald Trump’s Economic Plan, Up Close, Doesn’t Add Up
WSJ 10/18/2016
Donald Trump’s Tax Plan Would Boost Economy in Short Run but Not Long Term, Analysis Finds
WSJ 10/17/2016
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