Economists savage Trump's economic agenda

Economists savage Trump's economic agenda

Many economists say Donald Trump’s proposals — from big import tariffs to mass deportations —would hurt the very demographic that supports him in the greatest numbers: less educated voters struggling in a tepid U.S. economy.

If Trump policies actually went into effect, these economists say, prices for goods lower-income Americans depend on could soar and a depleted low-end labor force could trigger a major downturn.

So here you go. Actual experts on the economy are weighing in and saying that Trump's "policy" proposals would actually HARM the very people who are supporting him.

“There is a good reason many people are upset and angry, because for many it’s been a very rough decade,” said Mark Zandi, chief economist for Moody’s Analytics and an adviser to John McCain’s 2008 presidential campaign. “But if Trump’s policies were enacted it would be some form of disaster for the economy. If you force 11 million undocumented immigrants to leave in a year, you would be looking at a depression. It would not help the people he is talking to, they would be the first to go down.”

The reasons for this are simple, economists say. The economy is close to reaching “full employment," adding another 292,000 jobs in December. The jobless rate remained at 5 percent.

If 11 million immigrants were rounded up and removed from the country, many of the jobs they do — including restaurant, hotel and low-end construction work — could go largely unfilled, economists say. That would create a large and immediate hit to gross domestic product growth and the effects would ripple out to companies that supply goods and services to all those businesses. There would also be 11 million fewer people consuming goods and services, further driving down economic activity.

And on trade, Trump has argued for imposing big tariffs on goods imported from Mexico, China and elsewhere. The problem with this, many economists say, is the tariffs would ultimately be paid by U.S. consumers in the form of higher prices and would not lead to any significant increase U.S. manufacturing.

“It’s a common mistake that people who don’t really understand economics make that this would somehow be a tariff on exporters,” said Mark J. Perry, a professor at the University of Michigan at Flint and a scholar at the conservative American Enterprise Institute. “It would be actually be a tax on American consumers. And more than half of U.S. imports come in as raw materials. And those cheap imports benefit American companies that hire American workers to finish the production process. Trump is really harkening back to the outdated mercantilist positions of hundreds of years ago.”

Sorry for the large external quote there, but it highlights pretty much all of Trump's economy proposals and why they wouldn't work. As you can see, Trump's proposals if thought through critically would only shatter our economy, not help it. So no, Trump would NOT make a good President. If you look past his rhetoric and use critical thought on his proposals you'll see that they are boneheaded, ill conceived and doomed to failure.

Keep in mind, this isn't me saying this. These are top economics saying this. They all make very compelling cases too. I'd like to quote more of the article because I'm sure many won't read anything more than the excerpts I posted in the OP (if they even read that much), but I'm not trying to spoon feed the whole article.

Someone PLEASE tell me why an expert in the economy wouldn't know better than Donal Trump.

a reply to: Krazysh0t

Because Obama's plans have worked so very well?

a reply to: Krazysh0t

Yup, protectionism produces negative results for everybody including the people it is intended to protect. It is an interventionist step toward socialism to attempt to manipulate the economy in any way.

All political schemes which promise to deliver autarkic economies are futile.

Does this mean that politico is willing to discuss economics?

originally posted by: NewzNose
a reply to: Krazysh0t

Because Obama's plans have worked so very well?

I think they have other than the healthcare issues. I'm not an Obama fan, but things sure have turned around since Bush left office. The sad part is he took the economy from a free fall to giving us a new foundation to work from. It hasn't recovered nearly as fast as everyone wants, but I could only imagine how hard it is when you have a bunch of Republicans doing everything they can to stop progress in this country.

a reply to: Krazysh0t

Not sure if people realize this, but there is an incredible push by the establishment to discredit Trump at every turn regardless if he deserved it or not.

Trump could find a cure for cancer, solve the worlds economic problems and cure aids but the establishment (supported by the Murdoch Media) would slam him in the press and have all sorts of ''experts'' come out and say how bad and irresponsible he is.

Don't get me wrong, Trump has done and said stupid things, but he's also said and done a lot of important things.. but you'd think he was Hitlers son judging from the bs press and statements.

regardless if your pro trump or anti trump, all parties are incredibly corrupt and paid for and the whole charade is a total sham, so when one person says '' see the experts said this so its true '' you sound like a gullible fool.

a reply to: Krazysh0t

So don't vote for Trump and keep 35 million illegals here to make us a third world country with no hope of making America great again?

Have I got it?

I don't know how Trump or Bernie will ever accomplish anything with congress. Might as well vote Hillary,results will be same.

originally posted by: Granite
a reply to: Krazysh0t

So don't vote for Trump and keep 35 million illegals here to make us a third world country with no hope of making America great again?

Have I got it?

That's politico obscuring the sliver of truth in the article. A tariff doesn't prevent immigration, it only prevents people from getting necessary goods at the cheapest price.

Trump's immigration stance should remain in the realm of national security and not fall prey to the temptation to promise economic deliverance.

originally posted by: MOMof3
I don't know how Trump or Bernie will ever accomplish anything with congress. Might as well vote Hillary,results will be same.

Except that Hilary is actually evil and Trump and Sanders are not.

Don't vote for Satan.

originally posted by: NewzNose
a reply to: Krazysh0t

Because Obama's plans have worked so very well?

The economy has improved considering the state it was in when he took office, but Obama is not the issue and it's completely off-topic.

The real issue here seems to be that Trump and his supporters really don't care what is best for our economy. They just want a segment of our country to get the hell out, the economy be damned.

So can we reasonably expect that a Trump presidency, if he is able to get his policies passed, will be an economic disaster?

a reply to: Krazysh0t

Tariffs are actually a great idea, but not 35% tariffs like Trump says he would do. A tariff would have to be increased incrementally over years to give corporations time to move manufacturing back or new businesses here time to start their own manufacturing in the US to compete with rising costs of goods from overseas. Start it out at 3% and have it double each year and that would give it time. For partially manufactured goods shipped they would be taxed partially.

For example, I-Pads are made in China because it saves them a whopping $10 in manufacturing on a 4 to 5 hundred dollar product. Even a 2% tariff would bring that back here.

Trump did throw out a ridiculously stupid number that would ruin the US. Every plan he comes up with is so stupid I feel like he is simply trolling the knuckle draggers that fall for the BS. Seriously he is a South Park episode in real life.

originally posted by: MOMof3
I don't know how Trump or Bernie will ever accomplish anything with congress. Might as well vote Hillary,results will be same.

If Trump actually believes what he says to the people and the Republicans maintain control of congress, Trump stands to accomplish quite a bit. Or screw-up quite a bit, depending how you look at it.

If Hillary or Sanders is elected, it will remain a "stalemate" of sorts.

originally posted by: NewzNose
a reply to: Krazysh0t

Because Obama's plans have worked so very well?

I don't know. You tell me:
Obama economy: 8.7 million jobs

Nice deflection by the way. You can't debate the topic at hand so you have to attack Obama instead. Predictable...

originally posted by: Agit8dChop
a reply to: Krazysh0t

Not sure if people realize this, but there is an incredible push by the establishment to discredit Trump at every turn regardless if he deserved it or not.

Trump could find a cure for cancer, solve the worlds economic problems and cure aids but the establishment (supported by the Murdoch Media) would slam him in the press and have all sorts of ''experts'' come out and say how bad and irresponsible he is.

Don't get me wrong, Trump has done and said stupid things, but he's also said and done a lot of important things.. but you'd think he was Hitlers son judging from the bs press and statements.

regardless if your pro trump or anti trump, all parties are incredibly corrupt and paid for and the whole charade is a total sham, so when one person says '' see the experts said this so its true '' you sound like a gullible fool.

No I realize this quite fine, but it is irrelevant to assume that just because you think this is the case that the info I'm presenting in the OP is false.

a reply to: introvert
But he wants to spend lots of money. Is that not the problem for past 7 years, democrats spend too much money.

originally posted by: NewzNose
a reply to: Krazysh0t

Because Obama's plans have worked so very well?

Wow... You guys are just getting over the Billy Bush era. Keep in mind he commenced to wars. One justified being Afghanistan the other should be a war crime. He watered down legislation that prevented banks from using Banks that hold everyday savings of people in high risk investments. He was the one who made in atleast some ways a financial structure to exist that led to the GFC. He nearly brought the whole world financially broke. Obama had to fix it even though it was created by the previous idiot.

If any American actually thinks The big Don should be president or that anything he has to say is more than self serving nonsense than the world and the USA is in trouble... Serious trouble. Current Presidents/Prime Ministers/Leaders of Countries generally inherit the mistakes of their predecessors Economic change does not happen quickly. Nor do the improvements made to the social fabric. Time. Obama has achieved a few very good things. If some narcissistic twit like Don is to be elected it is a complete indictment on the citizens of the USA and one that will have long term detrimental effect.

What Trump says is the opposite of what he or any big business really wants. Slaves.

Cheap immigrant labor, illegal the better, less wage, less tax, less benefits, benefits the rich…

Look at whats happening with the refugee 'crisis' in EU right now. The corporations are licking their chops and wringing their hands with glee.

Now, finally, they get to ride the migrant worker gravy train for a change.

originally posted by: Krazysh0t

originally posted by: NewzNose
a reply to: Krazysh0t

Because Obama's plans have worked so very well?

I don't know. You tell me:
Obama economy: 8.7 million jobs

Nice deflection by the way. You can't debate the topic at hand so you have to attack Obama instead. Predictable...

Most of our personal economic ills are directly connected to the absurd economic policies of this administration. The ACA, ARRA, etc. are far worse than Trump's relatively mild protectionist tendencies. Hell, tariffs are at least actually constitutional despite my revulsion for them.

He just needs someone to sit him down and explain economics. Obama can't or won't learn but, I suspect, Trump can.

Do a google search on Trump employee reviews and you will find he is not such an awesome guy or corporation to work for in too many instances.

The business practices of his companies and corporation (s) are as questionable as anything else out there that is designed to generate a profit.

The economy wouldn't suffer all that much because it is assholes like him that are making it that way.

Profit over people, people are problematic so you replace them with happy little machines and software to eliminate as many of those problematic little humans as possible......

And then sit back and stupidly state you have no idea why people don't spend into the economy when they no longer have a job to earn money and participate in it....

Wage slaves, debt slaves because without a loan you can't buy much because of low wages, never admitting there may be a problem because you have no time to realize there is one because you're too busy working 80 hours a week to pay for things that are inflated in price because the banks keep feeding more money into the system by pulling money out of their butts to write more and more, and more loans....devaluing all of the money in the system daily....

...On and On...

Did the Trumpet say anything about the Federal Reserve being a problem?, EVER?.

Nope, cuz he's one of their whores.

originally posted by: MOMof3
a reply to: introvert
But he wants to spend lots of money. Is that not the problem for past 7 years, democrats spend too much money.

We do spend too much money and the money we do spend is not spent wisely. That has been an issue for some time that goes beyond Republicans and Democrats. When congress has been controlled by the Republicans for much of Obama's presidency, it's hard to blame it on just Obama or the Democrats.