Steven Rattner methodically explains why economists assert that Donald Trump’s economic policy will crater the U.S. economy.
Trump would crater the economy.
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Summary:
Donald Trump’s proposed economic plan, which focuses on extreme immigration policies, tariff hikes, and regressive tax policies, risks severe economic contraction and instability. In contrast, Vice President Kamala Harris’s agenda receives strong support from economists for its balanced approach, which promotes economic stability and benefits working—and middle-class Americans.
- Nobel Prize-winning economists endorse Harris’s economic plan over Trump’s, highlighting its positive economic impact.
- Trump’s proposed tariffs and mass deportations could cause GDP to plummet by 9%, creating a recession or near-depression.
- Harris’s policies garner strong support among economists for providing tax relief and essential support for middle- and low-income families.
- Trump’s tax cuts favor the wealthy, exacerbating economic inequality and increasing tax burdens for the lowest earners.
- Trump’s proposed tax cuts on Social Security benefits could expedite its insolvency, while Harris’s policies maintain fiscal responsibility with minimal debt impact.
Kamala Harris’s economic plan is a thoughtful, well-supported path to a stable, fair economy that supports working Americans while balancing fiscal health. In contrast, Trump’s policies risk economic disaster, concentrating benefits on the wealthy, destabilizing GDP, and jeopardizing essential social safety nets while burdening working families and threatening to accelerate national debt irresponsibly.
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