skews13
Diamond Member
- Mar 18, 2017
- 9,467
- 11,901
- 2,265
The campaign reportedly plans to focus its early attacks on Trump's tax cuts, which primarily accrued to the country's richest denizens.
“The only thing he’s ever succeeded in doing is cutting taxes for rich people,” Kimberly Clausing, a tax policy expert and former Biden administration official, said of Trump’s legislative record in office.
Those cuts also played a major part in the Trump administration adding $8 trillion to the national debt. In short, the rich got richer at the expense of American taxpayers.
Manufacturing also took a huge hit under Trump, with some 1,800 factories closing between 2016 and 2018—i.e., before the pandemic hit—according to the Economic Policy Institute, a left-leaning think tank. And those closures had a tangible impact on Trump voters in places like Lordstown and Youngstown, Ohio, where some voters expressed buyer's remorse on casting a ballot for Trump.
And if voters thought inflation stemming from post-pandemic supply chain struggles were a drag, just wait until they get a load of the 10% tariff that Trump wants to put on all imported goods. Pro-Trump isolationists might be giddy about the idea, but American consumers will pay for it mightily. The Economist estimates the tariff would cost every American household an average of $2,000 a year. And even the right-leaning American Action Forum says the plan would “distort global trade, discourage economic activity, and have broad negative consequences for the U.S. economy.”
D. ( Dementia ) J. Trump. The worst economic President, since Herbert Hoover.
“The only thing he’s ever succeeded in doing is cutting taxes for rich people,” Kimberly Clausing, a tax policy expert and former Biden administration official, said of Trump’s legislative record in office.
Those cuts also played a major part in the Trump administration adding $8 trillion to the national debt. In short, the rich got richer at the expense of American taxpayers.
Manufacturing also took a huge hit under Trump, with some 1,800 factories closing between 2016 and 2018—i.e., before the pandemic hit—according to the Economic Policy Institute, a left-leaning think tank. And those closures had a tangible impact on Trump voters in places like Lordstown and Youngstown, Ohio, where some voters expressed buyer's remorse on casting a ballot for Trump.
And if voters thought inflation stemming from post-pandemic supply chain struggles were a drag, just wait until they get a load of the 10% tariff that Trump wants to put on all imported goods. Pro-Trump isolationists might be giddy about the idea, but American consumers will pay for it mightily. The Economist estimates the tariff would cost every American household an average of $2,000 a year. And even the right-leaning American Action Forum says the plan would “distort global trade, discourage economic activity, and have broad negative consequences for the U.S. economy.”
Team Biden targets Trump on his tax cuts for the rich
After months of the White House telling voters "Bidenomics is working" with mixed results, the President Joe Biden’s reelection campaign is pivoting to attacking Donald Trump's economic record, according to Politico. Team Biden plans to build on...
www.dailykos.com
D. ( Dementia ) J. Trump. The worst economic President, since Herbert Hoover.