Trump’s bold new economic plan!

Riiiiiight.  As Drum points out, it is mostly a huge giveaway to the rich and something that Romney or McCain would have been 90% comfortable with.  Lower taxes for rich people and less government regulation, and boom, watch the US economy grow!  It only it were that simple.

And, please, spare me all the horrible media coverage of this marking a “reboot,” “reset,” or re-whatever for Trump.  The idea that instead of attacking a Gold-star family or sending infantile insults on twitter Trump manages to deliver a semi-serious speech and it’s a whole new Trump all of a sudden.  We’ve played this game before.  It ends up with Trump going back to stupidity and demagoguery because that’s what Trump is.  And, even if he (unbelievably) exhibits actual self-control till November, that means he just finally figured out how to fake it.  The American public already has more than ample evidence about the real Trump.  Anyway, Drum on the economic proposals:

Here are the pieces that caught my eye:

  • Huge tax cut for the rich.
  • But no spending cuts that he’s willing to admit to.
  • End of estate taxes.
  • Cut corporate tax rate to 15 percent.
  • Allow corporations to repatriate foreign earnings at a special 10 percent rate.
  • Declare China a currency manipulator, even though their currency is currentlyovervalued, not undervalued. A market rate for the renminbi would make Chinese imports even cheaper.
  • Slash regulations on corporations.
  • Pretend global warming doesn’t exist.
  • Ban all new financial regulation.
  • Repeal Obamacare.
  • Implement a childcare tax deduction instead of a tax credit.
  • He will work with Ivanka on a childcare plan. Because, I guess, Ivanka has kids, so she’s an expert on the problems that low-income workers have with childcare.

This is not exhaustive, and most of the speech was just the usual tired Republican orthodoxy. Mitt Romney could have given 90 percent of it. There was also a lot of random guff about how disastrous the economy is; how the unemployment rate is a hoax; and how American energy, planes, cars, steel, and so forth will employ way more American workers once Trump becomes president.

You bet. As near as I can tell, literally every single one of his proposals above would benefit the rich and do virtually nothing for the working and middle classes. But he sure knows how to put a populist spin on giveaways to the rich, doesn’t he?


About Steve Greene
Professor of Political Science at NC State

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: