Hey, Times, give it a rest already. Partisan, are we?
10
The Trump plan favors small business, limited government regulation, a competitive corporate tax rate and a simplified income tax system, all of which are aimed to spur economic growth which has virtually disappeared in the 8 years under Obama. Contrast that with the Clinton plan, which includes another massive taxpayer funded stimulus plan, higher taxes on corporations small businesses and the top 20% of earners, and more government spending such as her plan to provide free college for any family making less than $125,000 a year. The last 8 years have proven that Clinton's plan will not work. No economic growth, a doubled federal debt, and record numbers of Americans on food stamps and welfare. Those are facts, no matter how Democrats spin them.
10
Assumption inherent in TIMES's argument is that DT's economic plans r bad, HRC's and 0bama's welfare state is good, is factually untrue. 240,000 jobs promised by HRC for upstate NY never materialized, and statistics gleefully quoted by CNN allegedly indicating hundreds of thousands of new jobs created by O r misleading. Most r part time positions, under 30 hours per week so that employers can avoid having to provide health care benefits, and new hires have little job security. In s. Fla where I rent a smistasmento while in country,I shop at Publix, where u see employees one week,but not the next, either transferred or whose hours r drastically cut to avoid ACA requirements. Landscaping is done by "indocomentados,"--I know because I have spoken to many in language of Cervantes,--and US citizens r seldom found cutting ur lawn or trimming ur trees and bushes. With 94 million deleted from work force, Obama's America represents Valhalla for dirt poor folks being infiltrated across the border, but is hopeless for citizenry made redundant by cheap labor pool.,NYT's EB is not affected by such policies. Thus, members can afford to take a generous view of O's labor practices. US citizens adversely affected by them cannot. Return to Charley Wilson's America,Wilson who said that "What is good for GM is good for America"is the solution, and "filter down economics" proposed by DT may be the answer to US's economic crisis.4-8 yrs of Clinton-Obama admin. will get us nowhere.
10
Republicans like to tout tax "deductions" but those are useless for the millions who do not earn enough or have many other deductions to itemize on their tax returns. These middle and lower economic folks are the ones who really need the breaks - but they should be in the form of tax credits, not deductions.
15
Perhaps the economy is working for the members of the NYT editorial board and the "elites" in government, but for the rest of America trickle down government is not working. The choice is between 4 more years of the failed Obama presidency or something different. I chose something different.
6
Mr Trump's tax plan though slightly better than his first one, it still favors the rich. With a 15% rate on "investment" incomes, he is reversing the current 23.8%, which would be a boon to the hedge-fund managers who rake in, in the $billions. The deficit & debt would rise far more than otherwise.
When he comes up with more details, if he treats all household incomes over a $1 million as regular incomes to be taxed at 33%, and also imposes a temporary surcharge of 5% or 10% or even higher over say, $5 million, that would be far better, and may even be tolerable to even progressives.
When he comes up with more details, if he treats all household incomes over a $1 million as regular incomes to be taxed at 33%, and also imposes a temporary surcharge of 5% or 10% or even higher over say, $5 million, that would be far better, and may even be tolerable to even progressives.
6
Instead of another "trickle-down" economic plan, how about a "trickle-up" economic plan? That is, build a truly progressive tax structure that will help people at the bottom, and reward reinvestment (in businesses and communities) by the folks at the top.
31
"showering the rich with tax breaks" That sounds pretty standard for a Republican. The old trickle down theory which has been discredited by most economists. Doesn't work and certainly doesn't help those Trump supporters most in need of a break.
21
The core Trump supporter could care less about all this. They are voting for Trump because they believe he will bring those pesky people of color to heel and reassert white dominance. As long as Trump is locking up blacks and rounding up brown people, his supporters could care less that he will be a typical Republican and shower the rich with tax cuts. Trump is nothing more than the racist candidate of a throughly racist party.
25
Great Again? Restore Top Tax Rates From America's Great Decades
Journalists should focus attention on the top federal income and estate tax rates from the era in which Donald Trump claims America was great. He was born in 1946, so I suspect he is referring to his first four decades or so. I believe that federal tax policy during that period was to prevent the accumulation of great concentrations of wealth in an elite upper class, so the top rates were nearly confiscatory -- which served to expand the middle class as well as the federal budget.
The top federal income tax rate from before 1946 through 1963 was 91% or 92%. It was 77% in 1964, then 70% from 1965 through 1981. It dropped to 50% from 1982 through 1986. see http://taxfoundation.org/article/us-federal-individual-income-tax-rates-...
The top federal estate tax rate from before 1946 through 1976 was 77%. It was 70% from 1977 through 1981. It dropped to 65% in 1982, to 60% in 1983, and to 55% from 1984 through 1987. see https://www.cchgroup.com/news-and-insights/wbot2015/historical-estate-gi...
Consistent with Mr. Trump's claim that he'll "make America great again," he should restore these hight tax rates on the super-rich. A President Hillary Clinton should do so, as well.
Journalists should focus attention on the top federal income and estate tax rates from the era in which Donald Trump claims America was great. He was born in 1946, so I suspect he is referring to his first four decades or so. I believe that federal tax policy during that period was to prevent the accumulation of great concentrations of wealth in an elite upper class, so the top rates were nearly confiscatory -- which served to expand the middle class as well as the federal budget.
The top federal income tax rate from before 1946 through 1963 was 91% or 92%. It was 77% in 1964, then 70% from 1965 through 1981. It dropped to 50% from 1982 through 1986. see http://taxfoundation.org/article/us-federal-individual-income-tax-rates-...
The top federal estate tax rate from before 1946 through 1976 was 77%. It was 70% from 1977 through 1981. It dropped to 65% in 1982, to 60% in 1983, and to 55% from 1984 through 1987. see https://www.cchgroup.com/news-and-insights/wbot2015/historical-estate-gi...
Consistent with Mr. Trump's claim that he'll "make America great again," he should restore these hight tax rates on the super-rich. A President Hillary Clinton should do so, as well.
16
Trump reads uncomprehendingly from a script provided for him by his new gang of "economic advisors," who consist of a majority of Wall Streeters, four major donors to his campaign (so much for "can't be bought...), and only one actual economist and one man with any actual experience in manufacturing.
And what does he prescribe? Budget busting tax cuts for the wealthy, an estate tax cut benefiting the wealthy, a new round of trade wars, a retrenchment from progress on reduction of fossil fuel use, and a decimation of environmental regulations.
Supply side snake oil.
And what does he prescribe? Budget busting tax cuts for the wealthy, an estate tax cut benefiting the wealthy, a new round of trade wars, a retrenchment from progress on reduction of fossil fuel use, and a decimation of environmental regulations.
Supply side snake oil.
20
The "new face" of the Republican party sure looks much like the old, tired faces of the past. Trump's Law & Order speech sounded like Nixon and his econ 101 speech yesterday was taken from the pages of Regan. Enough with the "tinkle" down economy, we are tired of being peed on by the supple siders.
15
I guess I still don't understand why the press and Trump's opponents continue to address his policy proposals (of all things) when the issue is his sanity. I suggest we stop treating him like he's worthy of serious consideration and get on with the task of kicking him to the curb. Anything less amounts to complicity.
13
Trump not only doesn't offer a realistic economic plan to help the people
2
Typical nut job Trump!!!
11
It's evident to everyone but the Vichy Republicans that Trump has no understanding of any issues, but he can read a speech. That wouldn't qualify him to be a member of Congress. Please shared these carefully documented reasons to support Clinton (8900 read so far): https://www.linkedin.com/pulse/open-letter-sanders-supporters-scott-s-sm...
6
Tax rates will decline
Infrastructure & military expenditures will increase
These costs will be paid by what revenue sources?--Trump doesn't say
What loopholes will be closed?--he doesn't say, except for a small carried interest reform (good)
Tax rates on the wealthy and estate taxes affecting only the wealthy will decline
How will this benefit the poor? Middle class? The economy? --he doesn't say...
Others have said through trickle down economics --which doesn't work
He says tax payers will pay their 'fair share'
What is the fair share for the 10%? The 1%? --Trump doesn't say
But rich people like him will pay less
Could the fair share be what Trump pays now in taxes? --he doesn't say
What does Trump pay in taxes? --he doesn't say
And refuses to show his tax returns breaking with long precedent
Why vote for Trump? --he doesn't say
Unless one is ok with 'he doesn't say'...
Unless one is really ok with 'he doesn't say'...
Infrastructure & military expenditures will increase
These costs will be paid by what revenue sources?--Trump doesn't say
What loopholes will be closed?--he doesn't say, except for a small carried interest reform (good)
Tax rates on the wealthy and estate taxes affecting only the wealthy will decline
How will this benefit the poor? Middle class? The economy? --he doesn't say...
Others have said through trickle down economics --which doesn't work
He says tax payers will pay their 'fair share'
What is the fair share for the 10%? The 1%? --Trump doesn't say
But rich people like him will pay less
Could the fair share be what Trump pays now in taxes? --he doesn't say
What does Trump pay in taxes? --he doesn't say
And refuses to show his tax returns breaking with long precedent
Why vote for Trump? --he doesn't say
Unless one is ok with 'he doesn't say'...
Unless one is really ok with 'he doesn't say'...
18
Someone should remind the "Detroit Economic Club" that without the Federal support and bailouts that Trump was bashing, and no doubt the gentlemen in fine suits were applauding -- the "Detroit Economic Club" would be as relevant as the "Zimbabwe Economic Club"
21
When are voters going to grasp that the $18 trillion plus run up of the national debt since 1980 is due to Republican tax cuts for the rich that have had no measurable impact on the economy. There has been no great increase in "liberal spending" unless maybe you count Bush II's drug benefits in Medicare that were not paid for. Since the election of Ronald Reagan, the Republican Party has done incredible economic damage to benefit the one percent. Trump's proposals are more of the same.
23
I don't think Trump understands economics or gives a damn about economic and taxation policies. I had the sense he was simply reading (badly) a speech thought up and written for him by some mash-up team of retread Republican used-to-be's.
Understanding "business," as Trump claims, is no more qualifying for understanding economic policy than it is for understanding foreign policy.
Moreover, there is no indication that Trump will be able to learn and talk about the details and rationale for what his speech sketched (and how sketchy it was). He does not have the interest or brainpower to go further than his continual assertions, without foundation, about what great benefits his "plan" will create for Americans.
I'm skeptical we'll even get more "details" from his speechwriters as the campaign wears on--that is, enough, to factually score it.
Please, news media and debate moderators, ask him for more depth and don't let him deflect as he usually tries to. There is no "there" there, I tell you.
Understanding "business," as Trump claims, is no more qualifying for understanding economic policy than it is for understanding foreign policy.
Moreover, there is no indication that Trump will be able to learn and talk about the details and rationale for what his speech sketched (and how sketchy it was). He does not have the interest or brainpower to go further than his continual assertions, without foundation, about what great benefits his "plan" will create for Americans.
I'm skeptical we'll even get more "details" from his speechwriters as the campaign wears on--that is, enough, to factually score it.
Please, news media and debate moderators, ask him for more depth and don't let him deflect as he usually tries to. There is no "there" there, I tell you.
13
Typical republican fantasies. All for the rich, to hell with the environment.
27
Ironic how the most die-hard Trump supporters are the ones who could most benefit from organizing themselves into labor unions and oppose an “economic plan” like this, which only serves the ultra-rich. Labor and unions, which the Democratic Party has always supported and which have been in decline since Reagan busted the PATCO union, and Republicans worked feverishly to make them a dirty word.
Those dastardly labor unions! They gave us good jobs and a living wage! They fought to keep our jobs!
Those dastardly labor unions! They gave us good jobs and a living wage! They fought to keep our jobs!
22
People who are so greedy that they won't do more of a job they love because they will have to pay taxes on the additional money they will earn don't deserve to drive federal tax law. For most of us, the only time we think of taxes is when we prepare our returns. I refuse to make decisions about how I live my life based on contributions to the public weal. And I can't respect people who do.
As the Board says, "George W. Bush pushed big tax cuts through Congress in 2001 and 2003 with the promises of strong growth that never materialized." Why don't their reporters ask Trump and Paul Ryan and the other tax phobes about this every time they hype trickle down. And what about the promised Kansas miracle? That deserves a lot more attention than it is getting.
This myth of trickle down prosperity is as ingrained in American politics as the slanders about Hillary Clinton's being dishonest and a liar. But say it often enough, and the unwashed masses will believe it. And even some NYT readers. How sad.
As the Board says, "George W. Bush pushed big tax cuts through Congress in 2001 and 2003 with the promises of strong growth that never materialized." Why don't their reporters ask Trump and Paul Ryan and the other tax phobes about this every time they hype trickle down. And what about the promised Kansas miracle? That deserves a lot more attention than it is getting.
This myth of trickle down prosperity is as ingrained in American politics as the slanders about Hillary Clinton's being dishonest and a liar. But say it often enough, and the unwashed masses will believe it. And even some NYT readers. How sad.
8
"Excessive regulation we have imposed on our industry. " Is that like re-establishing King Coal as our main fuel for power generation. Isn't that the most horrible thing to propose, to sentence generations to the evils of coal mining, both for the miners and those of us who have to breath the products of their labor. Come down from your golden tower and spend a second in a mine, get soot on your suit and in your lungs, smell the gas, feel each explosion and maybe you will understand what it must be like to go down in the hole every day for life and their sons and grandsons after them. And Hillary Clinton was ridiculed for proposing to re-train miners and encourage clean industries to re-locate in those areas for these re-trained workers. And the man in the golden tower wants what?
11
Hillary is apparently scheduled to speak at the same forum tomorrow, and we will see what she says. Of course, the editors have already written a leader praising her 'game plan', without knowing a wit about what she will say.
Will she oppose the TPP to placate Sanders voters? Or, will she say stuff like "I oppose TPP in its PRESENT FORM" and such nonsense? Suspense is unbearable.
Will she oppose the TPP to placate Sanders voters? Or, will she say stuff like "I oppose TPP in its PRESENT FORM" and such nonsense? Suspense is unbearable.
6
Has he announced when he will bring his own businesses back to the states?
55
Trump's economic "plan" is a breathtaking appeal to stupidity.
It's like his off-the-cuff "speeches": there's so much preposterous garbage, it's nearly impossible to know where to start.
What mish-mash of soul-crushing appeals to the rich, coupled with mis- and dis- and created-information. (Example: US corporate tax rates are among the lowest, not highest, in the industrialized world.)
Clearly, it wasn't a serious speech. A shot at the visceral nature of the half-informed and those who hear what they want to hear? Yes. But no thinking person capable of balancing their own checkbook, no every day shopper who looks at labels on the clothing or food they purchase, could truly believe Trump's intentionally over-simplified "plan" was workable.
Here's a newsflash: Neither does Trump! He knows full-well that its chance of enactment is zero. It's just one more rallying cry to the gut.
Trump's scary enough on his own, and I get party loyalty, but anyone who casts a vote for Trump ought to scare the bejeezzus our of you.
It's like his off-the-cuff "speeches": there's so much preposterous garbage, it's nearly impossible to know where to start.
What mish-mash of soul-crushing appeals to the rich, coupled with mis- and dis- and created-information. (Example: US corporate tax rates are among the lowest, not highest, in the industrialized world.)
Clearly, it wasn't a serious speech. A shot at the visceral nature of the half-informed and those who hear what they want to hear? Yes. But no thinking person capable of balancing their own checkbook, no every day shopper who looks at labels on the clothing or food they purchase, could truly believe Trump's intentionally over-simplified "plan" was workable.
Here's a newsflash: Neither does Trump! He knows full-well that its chance of enactment is zero. It's just one more rallying cry to the gut.
Trump's scary enough on his own, and I get party loyalty, but anyone who casts a vote for Trump ought to scare the bejeezzus our of you.
6
The Republicam mantra: Promise them heaven and deliver hell.
14
The billionaires who comprise Mr. Trump's team of economic advisers have found the real patsy this time. He just repeats the same old story that these so-called advocate of "trickle down economics" have peddled since the advent of Saint Reagan in order to enrich themselves at the expense of everyone else. The patsy doesn't even understand what he is being asked to peddle. He just blindly reads what they asked him to read. At least saint Reagan had the (wrong) conviction that his policies might work. Mr. Trump's sole conviction is that he is the greatest, period. An empty mind in an empty shell. I dread to think what will happen when his "foreign policy advisers" convince him to start another war (maybe with nukes this time) for the sake of HIS greatness!
7
Your article notes that Bush reduced taxes twice but fails to mention all the billions and billions of debt he took on to finance his little attempt to prove his manhood--resulting in huge deficits which his fellow Republicans used to attack democrats ........Hand in hand with this speech was his announcement of his economic advisers----nearly all billionaires including mostly hedge funders who make money by shuffling paper among themselves while making billions and then paying a tax rate of 15%.....any bets on how many jobs these guys destroyed to make America great again? ......By the way, just look how Kansas is doing with Brownback and buddies using that old trickle down economy
12
Looks like Trump's team of "economic advisers", comprised of billionaires and hedge-fund managers, have written themselves a nice little package they can all benefit from, while the rest of us will struggle along with barely a crumb thrown our way. Ask Trump today what he said, and he won't remember a word. Those "advisers" know a good thing when they find it, and they found an easy mark in the clueless Trump. At least we have some knowledge now of who will be pulling the strings behind President Trump.
7
I don't know which is more frightening - Trump the Plunderer at the helm of economic policy or Trump the Bungler at the head of foreign policy. His business ethics are loose as evidenced by his aversion to paying fair prices to banks for loans and stiffing workers for wages owed. His narcistic fantasy that he can coerce every other nation to his individual will is alarmingly naive. Trump the Plunderer and his plans for corporate give-a-ways and more breaks for the 1%_ers would be horrible for the economy and only create greater economic disparity and less opportunity for the less advantaged.
5
All these years of trickle-down economics and I'm not even damp yet - the late, great Molly Ivins said it best.
7
Trump thinks that we ,Americans are stupid and he can sell snake oil to us. Lot of my friends argue that Trump is right, otherwise he would not be the Republican presidential candidate defeating 16 governors and senators. He will start a trade war with China and Japan and that will bring back lot of jobs. Stupid. He will give big tax break to top 1% rich and that will bring down deficits. Stupid. He will dismantle NAFTA and TPP which he borrowed from Bernie, the socialist which will isolate our country from our trading partners. Stupid. His populist talk, sympathy and empathy for poor and middle class, big tax break for the super rich, TRIKLE DOWN economy and adopting leftist economic agenda seem a very simplistic confusing economic idea which will move us from great super power status to third world status, specially after BREXIT.
3
I see. Trump want us to believe still that the problem with the economy is that the rich don't have enough money. Instead, the rich have so much money that countries like Germany issues debt with negative interest rates, getting to charging THEM to keep it safe! The problem is that everyone else is underpaid. The rich have captured so much of that surplus that the lower classes create (not THEM) that it constrains profit-making business opportunities for them. I mean, why else would they buy government bonds with a fee, rather than invest it on an enterprise providing a rate of return?
3
Scenario for fun. Trump becomes President, puts a 45% tariff on Chinese goods and his followers go to Walmart and find no every day low prices.
7
Trump wants to bring back Reaganomics - I wonder if this poster is hanging in his office?:
http://1.bp.blogspot.com/-ahHUndFYtGs/UFwioFCgwdI/AAAAAAAAKCU/7j9oO4swf9...
http://1.bp.blogspot.com/-ahHUndFYtGs/UFwioFCgwdI/AAAAAAAAKCU/7j9oO4swf9...
1
The New York Times has ceased being a paper with any, any at all, actual value. The level of slant, misguiding articles, and out and out lies (like this editorial article), is beyond anything previously seen in this country. It may actually have out run Pravda during its years under Stalin. This paper is officially an organ of the Democrat Party.
2
Forget the Reagan and Bush II tax cuts. A contemporary example can be found in Kansas and the impact that Gov. Sam Brownback's tax cuts have had on the state's budget, economy and job growth
Donald Trump to s unfit to be President of the United States of America
Donald Trump to s unfit to be President of the United States of America
5
the lesser of two evils (Hillary) is still evil
1
"The big problem with Mr. Trump’s tax ideas is that they would leave a multitrillion-dollar deficit for no benefit. "
Like wars NYT never advises against, that not only have "no benefit" but cause tremendous domestic and global damage?
Like wars NYT never advises against, that not only have "no benefit" but cause tremendous domestic and global damage?
1
For all his populist musings, at the end of the day, Donald J. Trump is your standard rich man's Republican. We see this in his pressing for the elimination of the "death tax". The money collected from this tax is small. And yet it was important enough that Trump - who doesn't dwell on details - included it in his plan. Why? Because it is important to the wealthy who view it as helping them secure their privileged place in society.
If anyone thought that Trump was going to move the Republican party away from being a rich man's party only need look at this part of his plan.
If anyone thought that Trump was going to move the Republican party away from being a rich man's party only need look at this part of his plan.
2
Forget all the reasoned arguments why the Trump Economic Plan is empty. All you need to notice is the graphic accompanying the editorial - a clever homage to the end of Dr. Strangelove, with Trump, as Maj. King Kong (Slim Pickens) riding his bomb of plan to economic oblivion. Yahooooo!
6
Donald Trump just threw a bunch of things up on the proverbial wall, hoping that something will stick. Much of this is quite similar to what has been on his web site months ago--and its just as vague.
Trump had previously declared that his Tax Plan would be Revenue-Neutral. But,bipartisan analysis suggests that without him specifying specific program cuts, the Trump Tax Plan would raise the National Debt by approximately $9.5 Trillion in ten years.
https://thetruthoncommonsense.com
Trump had previously declared that his Tax Plan would be Revenue-Neutral. But,bipartisan analysis suggests that without him specifying specific program cuts, the Trump Tax Plan would raise the National Debt by approximately $9.5 Trillion in ten years.
https://thetruthoncommonsense.com
2
Such a fool , we have never seen. Maybe if Trump made his ties and shirts in America he would create a few jobs. Would they be anything above the lowest wage levels? I doubt it.
3
The Donald’s plan? Hardly. Totally scripted with GOP written all over it.
15% corporate tax rate, OK candidate Trump, how about a real rewrite of the voluminous tax code that leaves no dodges and loop holes, just a straight 15%, no exceptions — including off shore assets.
Eliminating the Estate Tax benefits absolutely no one but the top 10%. Part of the standard GOP fat cat first agenda.
If Hillary doesn’t tear this to shreds, she should be impeached before she is even elected.
15% corporate tax rate, OK candidate Trump, how about a real rewrite of the voluminous tax code that leaves no dodges and loop holes, just a straight 15%, no exceptions — including off shore assets.
Eliminating the Estate Tax benefits absolutely no one but the top 10%. Part of the standard GOP fat cat first agenda.
If Hillary doesn’t tear this to shreds, she should be impeached before she is even elected.
Trump is a lousy business man as his GOP candidacy is making "clear, negative" hits to his real estate empire. That Trump brand premium he spent 30 years building? Redfin puts it today at ZERO (see link below). Those hotels, golf courses and casinos? According to Foursquare data, women are voting early with their feet in a de facto boycott of all things Trump; foot traffic is down 20% in July, year-on-year. (see link). What Trump built, bankruptcy by bankruptcy and lawsuit by lawsuit is sinking like the Titanic all because he sought the Oval Office. Dump Trump.
http://finance.yahoo.com/news/exclusive-donald-trump-brand-taking-000000...
http://talkingpointsmemo.com/livewire/trump-properties-foursquare-data-v...
http://finance.yahoo.com/news/exclusive-donald-trump-brand-taking-000000...
http://talkingpointsmemo.com/livewire/trump-properties-foursquare-data-v...
Message to Trump supporters: He is the rich guy who has profited at your expense.
1
This editorial is useless.
Would anyone expect the editorial board to agree with a single thing Trump said?
I get that he is obnoxious and irresponsible, but is there nothing about his tax plan you like?
Would anyone expect the editorial board to agree with a single thing Trump said?
I get that he is obnoxious and irresponsible, but is there nothing about his tax plan you like?
3
Why doesn't Trump start by bringing his outsourced jobs back to the United States? Why does no one ever see that he does what is best for "The Donald", not the USA?
1
Any teacher instantly knows which student is winging it on an exam, having spent the previous week on a road trip. Answers are incoherent and simply reflect a mish-mash of what his five buddies whispered in his ear, out in the hallway before the exam...exactly how Trump's "speech" came off.
3
We The People have known for a long time that due to his vast ignorance and lack of education, “most of his proposals would hurt the economy, rack up huge deficits, accelerate climate change and leave the country isolated from the world.”
On the other hand, we still have to hear a single common sense statement from this clownish character. The GOP had the opportunity to stop this cartoon character but he was encouraged by the likes of FOK News, and now the GOP is stuck with the clown.
On the other hand, we still have to hear a single common sense statement from this clownish character. The GOP had the opportunity to stop this cartoon character but he was encouraged by the likes of FOK News, and now the GOP is stuck with the clown.
2
I never cease to be in awe of the NYT editorial board's superior knowledge of........everything!
Trump's economic plan is very bad won't work.
Trump's immigration plan is racist won't work.
Trump's plan to vet ''refugees'' is racist won't work.
Trump's foreign policy is dangerous and won't work.
You have the prediction of failure and name calling down pat,now please inform the peasantry what has worked the last 7 years and what will work going forward,be specific.That's the tricky part.
Trump's economic plan is very bad won't work.
Trump's immigration plan is racist won't work.
Trump's plan to vet ''refugees'' is racist won't work.
Trump's foreign policy is dangerous and won't work.
You have the prediction of failure and name calling down pat,now please inform the peasantry what has worked the last 7 years and what will work going forward,be specific.That's the tricky part.
3
Brilliant illustration to go with this article. Dr. Strangelove reincarnated!
2
I'm surprised that DT didn't push tax cuts as a cure for Zika virus; for the GOP, tax cuts cure all.
BTW Don, do you pay taxes?
BTW Don, do you pay taxes?
1
Save the Republican Party - vote Mike Pence for President
1
The Trumps and Jared Ratner already knew this.
Well, I certainly do not see how Trump's Republican economic plan will benefit the middle class or this country, but, what a surprise, it sure benefits wealthy people such as himself--the greatest first-person singular EVER! Trust me.
1
Dear NYT's You boast as the "worlds most trusted" news source. But every article you have on this election scrutinizes Trump on everything, including the most ridiculous of topics, yet never ever do you even question anything that Clinton has done.
Trump hasn't been in office before, he hasn't made any of the mistakes, gaffes or crimes that your reporters think that he will, yet Clinton has made those mistakes, gaffes and questionably those crimes.
How can you possible claim to be the worlds most trusted news source when you can no longer be objective in your own countries election?
pathetic. You have no right to ever call out any other news source in the world for propaganda, bias or false reporting.
The 2016 US Election will bankrupt America's journalism as 95% of your news agencies are selling out and the majority of your citizens are noticing.
Trump hasn't been in office before, he hasn't made any of the mistakes, gaffes or crimes that your reporters think that he will, yet Clinton has made those mistakes, gaffes and questionably those crimes.
How can you possible claim to be the worlds most trusted news source when you can no longer be objective in your own countries election?
pathetic. You have no right to ever call out any other news source in the world for propaganda, bias or false reporting.
The 2016 US Election will bankrupt America's journalism as 95% of your news agencies are selling out and the majority of your citizens are noticing.
2
We have had trickle down government for the last going on 8 years and the result has been a stagnating economy. I'll take supply side every time, it worked spectacularly under Reagan.
1
Coming off of 8 years of less than 2% growth your comments on supply side economics ring hollow.
4
trump's speech is a weak attempt to seem like he is a Republican by appealing to the only real core beliefs of the Republican Party: lower taxes and fewer regulations. He is surely no unique outside candidate, just a weak version of the same old Republican tune.
2
Let's get the CEO's of say...Apple, Nike, GE, (name any large corporation that produces consumer goods)...to sign a commitment that for every 1% the corporate tax rate is lowered, they will bring X number of full-time jobs (paying more than the piddly minimum wage) back to the U.S. permanently.
Then let's get the CEO's of the service companies who have shipped their expertise and call-center jobs overseas to do the same.
Can you negotiate that deal, Drumpfy? Now that's a job creation idea.
Then let's get the CEO's of the service companies who have shipped their expertise and call-center jobs overseas to do the same.
Can you negotiate that deal, Drumpfy? Now that's a job creation idea.
3
Don's plans for "making America great again" have no basis in reality. But he'll keep promoting delusions.
1
Ah so - before he surrendered to party obedience George H.W.Bush gave it the definitive name: "voodoo economics." Two-word eloquence.
We recall the word from that eminent economist Will Rogers: "The only thing that trickles down is water; money only trickles up." He might have added that there's one other thing that trickles down: sewage.
Does this stuff even need discussing?
We recall the word from that eminent economist Will Rogers: "The only thing that trickles down is water; money only trickles up." He might have added that there's one other thing that trickles down: sewage.
Does this stuff even need discussing?
1
One more new botched beginning from this bloviating racist moron. Only 90 more days until we never have to see his lying face again!
1
Like much of what Trump has to say: where to start? Sticking to yesterday’s speech, I suppose if one was lazy it could be possible construct a decent economic plan by doing the opposite of — or at least ignoring — most of Trump’s proposals.
I think the most priceless moment in Trump's speech had to be--after embracing over 30 years of Republican orthodoxy on taxes and the rich--and acknowledging as much with his shoutout to Reagan--that Trump dismissed Clinton's plan as the past--and claimed he and the GOP are the party of "the future."
1
Obama did not have a mandate which is why the Republicans were able to oppose him. Hillary certainly does not have one. She would only be Obama's "third term." The question is whether Trump has one. He is dealing with an establishment both Republican and Democratic that will oppose him every step of the way no matter what he does. The media are part of it which is why in this editorial as elsewhere in its coverage the NYT gives him credit for nothing and even vilifies him. Change must come from outside. Maybe Trump is not the man of the hour. Maybe we must wait till another time when Hillary makes such a mess of things that America will demand change. Then the weakened establishment will have to go along if it wants to survive. In the meantime it is kicking and screaming in its desperate desire to perpetuate itself. In this light the NYT's ever critical coverage of Trump can be put in proper perspective. It is self-serving and not for the good of the country.
1
Donald J. Trump, the man without a soul. Well, at least there's still Johnson/Weld!
It's surprising how many people in this country fall for the old carnard that higher business taxes discourage investment. This is a very clever lie put out by the Republicans that even has fooled the Times editorial board.
If a company were to re-invest ALL its profits, it would pay ZERO taxes, as investments are TAX-DEDUCTIBLE. Opps!
A smart government that wanted to encourage growth via its tax system would create a progressive tax scheme that would lower the tax rate on residual profits for businesses that significantly re-invested their gross profits. It wouldn't just lower tax rates across the board which DISCOURAGES re-investment of profits.
If a company were to re-invest ALL its profits, it would pay ZERO taxes, as investments are TAX-DEDUCTIBLE. Opps!
A smart government that wanted to encourage growth via its tax system would create a progressive tax scheme that would lower the tax rate on residual profits for businesses that significantly re-invested their gross profits. It wouldn't just lower tax rates across the board which DISCOURAGES re-investment of profits.
First of all, lets be clear. This is not Trump's plan. It was handed to him by Ryan which was handed to Ryan by the wealthy 1% who control the Republican party.
Cutting taxes for the wealthy **is** the Republican agenda. It has been tried in many states and you can see the results. (Louisiana comes to mind, people are suffering).
The answer is to make the wealthy pay more not less. Shut the loopholes where they hall their money overseas. Shut the loopholes where they buy politicians. Use the money to expand education, fix infrastructure. Rich people don't like the freedoms America affords them? They can move.
Cutting taxes for the wealthy **is** the Republican agenda. It has been tried in many states and you can see the results. (Louisiana comes to mind, people are suffering).
The answer is to make the wealthy pay more not less. Shut the loopholes where they hall their money overseas. Shut the loopholes where they buy politicians. Use the money to expand education, fix infrastructure. Rich people don't like the freedoms America affords them? They can move.
3
...as if Hillary has a 'winning' economic plan; I don't think so. Our economy can't be shaped by a President; it's much more complicated than that. Whether it's Trump or Clinton, they'll be challenged with an oversized budget and deficit. I doubt either one will be able to effect any change.
3
The whole idea of giving tax breaks to companies and the rich is ridiculous. That isn't what is keeping us in a slow recovery. Companies and wealthy individuals have plenty of money and they are just sitting on it. Sure they would like to have more, but it will do nothing to stimulate the economy. They have nothing that they think they can make a decent profit on so will wait until something comes along. So, decreasing taxes will not have any affect for the rich and companies. It might allow more consumption in the middle and bottom, but unless you give the big guys something the little guys will not get the left-over crumbs.
1
Yes, Trump's plans are a fantasy, but Hillary's don't likely work either. His is something from Mars, while hers are a grab bag of old proposals that doesn't have a unifying philosophy to produce an effective approach. As an advocate for public education, her plan falls far short of what's needed. Likewise, a recent NY Time op-ed pointed out that core principle of Obamacare, private insurance plans for individuals, doesn't work. But neither that op-ed nor Hillary's grab bag proposes any workable solution. We are at a time when bold leadership is needed, but we're coming up short. Our only hope is that she can win and then rise to the occasion. Obama was a mediocre president (B or B-). Let's hope for more from her.
1
Does anyone doubt that if Trump wins, Mitch McConnell and Paul Ryan will put regressive legislation before him, including privatizing Social Security and Medicare, and he will sign it without even reading it? Obviously this economic plan was not of his making - as others noted, he had to read it from the teleprompter and for all we know, he doesn't even understand what he read! While Donald Trump has used and exploited many contractors and small business people, I shudder to think at how Republicans will use him to make the entire US look like Kansas, except with a lot more pollution.
The media lie so much that when they even tell a little bit of the truth few people trust it. What Trumpite believes anything critical they read about their hero?
This is Trump's Atlantic City economic plan: slice as much off the top for the rich as you can, before the whole thing craters; pay pennies on the dollar on your debts (because, 'watcha gonna do?') and/or declare bankruptcy yourself. Then abandon the town as it goes underwater from the ensuing environmental disaster.
Except that the United States of America is not a Trump casino.
I think we recognize the con this time around. At least some of us do, except for those who hold to Republican tropes.
Except that the United States of America is not a Trump casino.
I think we recognize the con this time around. At least some of us do, except for those who hold to Republican tropes.
2
I am amazed some body really looked in to Trump's proposal, I didn't give rats a.. his proposal.
The guy who says America first doesn't mention at all America's infrastructure.
But America First.
Give me break, he is a con artist.
The guy who says America first doesn't mention at all America's infrastructure.
But America First.
Give me break, he is a con artist.
1
The NY Times, which lost $700 m on the Boston Globe fiasco, and reported another quarterly loss while laying off workers, thinks itself qualified to opine on Mr. Trump's economic plans? Sorry, you're about the last place to look for solutions that will put people back to work.
3
Billionaire proposes tax cut for billionaire class, wow what a surprise. Bernie fans still thinking about voting for Trump? Glad Trump is going to be the voice of the middle class.
Trump should fire the project manager responsible for his proven to be horrific economic plan. Local and state governments are still reeling from Reagan and Bush tax cuts that siphoned infrastructure and education budgets overnight. We can all dress up for "trickle down" throwback night but won't survive four years of it.
2
Where are the jobs that were promised with the last tax cuts, and the ones before that? Since some large corporations pay NO taxes, is Mr. Trump suggesting the average person subsidize them even more?
1
Enough already! Can we hear more about Clinton's plans? I expect that anything Trump sells papers but enough of the free advertising. Please tell us lots more abut Clinton and her VP. Thank you.
1
"rack up huge deficits"
The last 8 years of regulation and taxes from Obama left us with a $9,000,000,0000,0000 additional debt.
The last 8 years of regulation and taxes from Obama left us with a $9,000,000,0000,0000 additional debt.
3
NYT bottom line: Obama's miracle economy including expansion of jamba juice "I know you have today off but if you are not here in 45 minutes you are fired" type jobs, along with $12 an hour jobs that won't give over twenty hours for fear of having to deal with Obama care are good including anything about the economy that happens to come out of HRC's mouth today also good, Donald Trump and every single one of his policies bad, including not wanting other countries taking advantage of the USA on trade agreements. By the way, the NYT is , shockingly, not mentioning HRC's stance on TPP in this article which is, for today anyway, identical to Trump's.
4
Why no mention here on what Obama has done with the national debt? I have no idea if what Trump says will work, but how can it be worse. I have to admit though, I'm very concerned about Trump saying that Global Warming is a hoax.
1
Supply-side economics? Those big tax cuts for business have worked out so well in Kansas, haven't they?
4
Mr. Trump often says that Mexico and China are stealing our jobs. He never mentions the greedy CEOs, like himself, who sought out factories in other countries, where employees make pennies a day. Moving manufacturing to countries with cheap labor was meant to create greater profit and higher CEO pay. In spite of his speech, I'm pretty sure the "Make America Great" hats, Trump ties, and the Trump Collection are still made in China. There is no way, Mr. Trump would impose a tariff on his own goods. The man cannot stop lying.
I believe the image and PR advisors of Donald Trump are not doing a good job for Donald Trump. For example, yesterday, the unveiling of the tax plan by Donald Trump himself should be supplemented with Melania Trump running through the streets of New York ridding – nude – mounted on a gold decorated horse, in a kind of dramatic Lady Godiva type presentation. That would have been spectacular!
The Donald "... would help workers by getting rid of the estate tax, though repealing it would have almost no effect on working families ... because it applies only to that portion of an estate that exceeds $5.4 million for an individual or $10.9 million for a married couple." What a relief, I was really worried about paying taxes on the remnants of my parent's YUGE middle class savings fortune that erased by retirement expenses.
He claims he would help workers by getting rid of the estate tax.
Does the Donald honestly think that the average worker will leave an estate of more than $5.4 million? He has no idea what an average joe is.
Does the Donald honestly think that the average worker will leave an estate of more than $5.4 million? He has no idea what an average joe is.
Well, well, well, Money bags can't buy an economist with brains.
3
You've got to really hand it to the GOP...the idea that they could lead unemployed factory workers to think that repealing the Estate Tax is core to their personal economic survival...brilliant!
1
My wife and I are retired public school teachers, we are so indebted to Mr. Trump for his ideas to allow us to shelter our first eleven million$ from the government and my brother Phil, who owns a business is also joyous, now he'll be able to get his effective corporate rate tax responsibility down to a more manageable 7%. Things are looking better indeed!
1
So it turns out, the anti-establishment Trump is just selling the snake oil of "voodoo economics" all over again with "tax cuts for the rich." We've seen the wreckage Reaganomics wrought as we continue to crawl back from the economic collapse (aka The Great Recession) of 2008. Hopefully, voters have not forgotten how many of the "facts" The Donald cited are a direct result of the very disastrous policies he's re-packaged that continue to swindle the many while enriching the few billionaires like himself. Well, in case you had any doubts, we now know that the Wizard of Trump Tower is just a crackpot selling "smoke and mirrors" as in choking coal dust from burning climate killing fossil fuels while simultaneously taking away health care for those who'll need it the most, and the false image of a brighter economic future for the 99 percent which he mostly detests.
When Obama took over the presidency during the depression you could see this community activist had no concept of economics and world affairs.
Clinton had promised and failed to create 200,000 jobs in upstate New York. I expect Clinton's failures to continue. Clinton's platform is to filled with to many handouts and social programs to have time for the economy.
Regardless of whether you like Trump or not as a person you have to admit he gets things done. Trump has business and leadership skills, and the connections to bring the US back from this lousy economy.
The presidency is not a personality contest like any job. I don't care about what he's like, I want a president that will get the economy moving again.
Clinton had promised and failed to create 200,000 jobs in upstate New York. I expect Clinton's failures to continue. Clinton's platform is to filled with to many handouts and social programs to have time for the economy.
Regardless of whether you like Trump or not as a person you have to admit he gets things done. Trump has business and leadership skills, and the connections to bring the US back from this lousy economy.
The presidency is not a personality contest like any job. I don't care about what he's like, I want a president that will get the economy moving again.
2
Surprise! A republican plan that is based around tax cuts for the wealthy and corporations while cutting clean air and water regulations. Maybe he can cut more financing for Planned Parenthood also and spend more on the military while he is at it. Those have seemed to be the only republican plans for the past 30 years or so, other than repealing the ACA.
4
This is not just Trump's plan. It is the Republican party's plan. Dump Trump now!
4
America, what's wrong with you?
Unnecessary to criticize Donald's childish "economic plan", or any other "policies" that he is proposing (a wall? Come on!).
Are your citizens so uninformed that in picking two individuals to vie for the alpha dog position from a population base of 300,000,000+, one is Donald Trump?
And in assessing his proposals, four out of ten of your citizens feel that these ravings actually make sense and should be implemented?
America, you once embodied the dream of most of the world; sadly, this dream has ended with a cruel awakening.
Unnecessary to criticize Donald's childish "economic plan", or any other "policies" that he is proposing (a wall? Come on!).
Are your citizens so uninformed that in picking two individuals to vie for the alpha dog position from a population base of 300,000,000+, one is Donald Trump?
And in assessing his proposals, four out of ten of your citizens feel that these ravings actually make sense and should be implemented?
America, you once embodied the dream of most of the world; sadly, this dream has ended with a cruel awakening.
1
We confront a political rookie
Who always played military hooky
Yet boasted excessively
About his propensity
To make money as fast as a bookie
Who always played military hooky
Yet boasted excessively
About his propensity
To make money as fast as a bookie
2
How exactly does he plan to protect intellectual property without regulations? Unless, as one would expect from him, the corporations get the protective infrastructure that citizens do not.
The editorial board did a hack job in this article. I am not a fan of Trump, but to just dismiss the points that brought him to the candidate position of the Republican party is intellectually lazy. Mr. Trump raises legitimate points when he says for example that the US cannot export automobiles to Korea or Japan or China while those countries flood our market. Does Clinton even mention that?
2
But doesn't Mr. Trump's own goods come from outside the US?
1
No plan will work until it is a plan that includes policies that benefit all.
Anything else is just dancing around the issue which results in power games.
Anything else is just dancing around the issue which results in power games.
Supply side economics - the system that is working so well in Kansas.
4
Why does anybody listen to this man? He does not have a plan. As Bloomberg said everything about him is posturing. He definitely needs an independent psychiatry evaluation.
2
I saw the speech today and the whole media machine is all excited about Il Trumpolini using a TelePrompter to make a coherent speech. Is this the re-set or not? Can he do it twice in the same week? Will he lose it again tomorrow? Somewhere in the second paragraph or segment they are even admitting that it was supposed to unify the dying Republican party by saying typically right wing trickle down nonsense.
My sense is that while maybe mollifying the wholesale snake oil producers on the right the actual product is still the same old snake oil. America is on to that stuff no matter what the label it's sold under. We still think it stinks and we ain't buying anymore of that 'Stuff'.
My sense is that while maybe mollifying the wholesale snake oil producers on the right the actual product is still the same old snake oil. America is on to that stuff no matter what the label it's sold under. We still think it stinks and we ain't buying anymore of that 'Stuff'.
2
Perfect article, CNN(D) !!
Dear Red State America: he will eliminate your estate tax! Why, your inheritance from rich uncle Jamison is safe! And allow you to deduct your nanny's salary when you take her on your skiing trip to Kitzbühel! Now get back to that double shift at Walmart and put something in the Thanksgiving Food Drive box for your fellow employees. As I always say to Ivanka, "Let 'em eat Stove Top!"
2
I don't know how good Trumps plan is, but what we have been doing for the last 8 years has resulted in the stock market rising and working Americans loosing ground.
Low skilled jobs are scarce and low paying and I believe growth is in service jobs. Many of the jobs Americans will do, like construction, get filled with illegal labor pushing wages down. Prior to the Obama Administration you would have to go back to the late 70's to find a labor force participation rate of our current 62.8%. It was essentially flat from 2005 - 2009 at 66 % (wasn't the population still aging then?), but we rave about the drop in the unemployment figure that excludes those who just gave up. As I understand the numbers, fewer have jobs and unemployment went down.
Trump scares me but so does Clinton. We live in interesting times.
John
Low skilled jobs are scarce and low paying and I believe growth is in service jobs. Many of the jobs Americans will do, like construction, get filled with illegal labor pushing wages down. Prior to the Obama Administration you would have to go back to the late 70's to find a labor force participation rate of our current 62.8%. It was essentially flat from 2005 - 2009 at 66 % (wasn't the population still aging then?), but we rave about the drop in the unemployment figure that excludes those who just gave up. As I understand the numbers, fewer have jobs and unemployment went down.
Trump scares me but so does Clinton. We live in interesting times.
John
1
Please do some in-depth investigative reporting on his recently announced team of economic advisers, and what their activities were before, during and after the crash of 2008, and those affected the middle and working classes.
2
Uh...Mission Accomplished?
To me this has always been the plan: populist primaries and typical Republican in the general. Where have you been, NYT?
The base of support that T gets is from the ignorant end of the political pool - you know those men: blustery, wrong yet will not bend to truth. We all know that guy.
To me this has always been the plan: populist primaries and typical Republican in the general. Where have you been, NYT?
The base of support that T gets is from the ignorant end of the political pool - you know those men: blustery, wrong yet will not bend to truth. We all know that guy.
2
When will we fix our education system? It has produced yet another GOP candidate who cannot add!
3
Eliminate the inheritance tax for working people? Huh? Who does he mean? His sons and daughters? If you're a "working person" who can accumulate more than $10 million for yourself and spouse, what we're you working at? Rock star? NBA great? This is the nonsense that a fool peddles to his like kind.
4
From what I can tell, stopping TPP and TTIP is a worthwhile endeavor.
Masking a "gift" to corporate and foreign interests as a "trade policy" is vile, manipulative and self-serving by people who are practicing retail politics at the expense of ordinary Americans.
If that is all the Trump presidency does it will be worthwhile.
Masking a "gift" to corporate and foreign interests as a "trade policy" is vile, manipulative and self-serving by people who are practicing retail politics at the expense of ordinary Americans.
If that is all the Trump presidency does it will be worthwhile.
3
Here is the story I wanted to read
Trump announces that for love of country he will donate half his net wealth to the IRS to enable further tax cuts. "This is best for the country" Trump said "the stimulus from allowing the successful to invest this money will revitalize the economy. I call upon all with great wealth to do the same and to give more to the IRS so that we can further greaten our nation ... no , wait "
Trump announces that for love of country he will donate half his net wealth to the IRS to enable further tax cuts. "This is best for the country" Trump said "the stimulus from allowing the successful to invest this money will revitalize the economy. I call upon all with great wealth to do the same and to give more to the IRS so that we can further greaten our nation ... no , wait "
1
How many times must it be said, Trump is unacceptable.
2
I think after 7+ years of economic disaster and out of control health care costs mostly due to Obamacare, that the NYT would know enough to just shut up.
2
"Donald Trump said on Monday that he wanted to usher in “economic renewal,” but most of his proposals would hurt the economy, rack up huge deficits, accelerate climate change and leave the country isolated from the world."
Other than that, Mrs. Lincoln, how did you enjoy the play?
Other than that, Mrs. Lincoln, how did you enjoy the play?
2
"Economic Product" per unit of time is equal to the amount of money in the economy divided by the average residence time of a unit of currency in somebody's account. So, if you want to boost EP, you can act to reduce the amount of time a unit of currency stays in an account, and the most direct way to do that is to tax it and spend it.
If you want to stagnate money, reduce its time value to nothing with zero interest rate policy. But beware, nobody knows how to get out of this trap.
If you want to stagnate money, reduce its time value to nothing with zero interest rate policy. But beware, nobody knows how to get out of this trap.
Trump supporters don't care about his economic plans. What they like is the "stick it to 'em" attitude, and let the future evolve as it may.
4
Its not Trump's fault, He actually read the speach he was given! What does that say for his handlers who wrote that platform? Have they read any of the economic studies from the last 30 years about tax cutting supply side theory? What about Larry Summer's stagflation comments that permiate the air? Currently, without greater consumer demand, with perpetually low interest rates, we can not get out of a 1.7% growth rate! How is cutting taxes going to help that?? We need a boots on the ground expansive infrastructure investment program. Had Obama been able to spend all the money 43 spent on Iraq and Afghanistan (or just the amount lost in the tax cuts referenced in this editorial comment) on clean air and schools roads, bridges, wind farms, maybe the growth rate would be different curve!
Regardless, why has Trump decidied to replay to the same angry electorate who has thrown every other republican presidential hopeful under the bus this election cycle, the same warn out tape of tax cuts and deregulation, and death tax repeal, which they now know never improved the lot of any of them. Gingrich's bag of empty promises, which carried the party for 30 years, begot Trump! Why then would he think its time to replay it??? Actually, his party has nothing to sell than, "big government can't fix anything lets get them out of your business, bedroom, and wallet!" No, thats not it, ......... He just thinks he is smarter than they are and it will work this time........
Regardless, why has Trump decidied to replay to the same angry electorate who has thrown every other republican presidential hopeful under the bus this election cycle, the same warn out tape of tax cuts and deregulation, and death tax repeal, which they now know never improved the lot of any of them. Gingrich's bag of empty promises, which carried the party for 30 years, begot Trump! Why then would he think its time to replay it??? Actually, his party has nothing to sell than, "big government can't fix anything lets get them out of your business, bedroom, and wallet!" No, thats not it, ......... He just thinks he is smarter than they are and it will work this time........
2
So what does the editorial board suggest the same Business as Usual Hillary Clinton. I for one think we need a new approach and like Trumps plan.
1
In adopting a tired, worn and unworkable GOP tax plan, Trump makes good on his promise to do things differently when he gets to Washington. Oh, wait...
2
So T rump adopted Paul Ryan and Mitch McConnell's plan to bust Social Security/Medicare by bankrupting the Federal government. That is so republican of him.
3
We have experienced the "Losing Economic Game Plan" for the past 8 years under Obama.
We need to "double down" for four more years of the same.
If we wait long enough, doing nothing different, something is bound to improve and then we can celebrate the Obama/Clinton greatness.
We need to "double down" for four more years of the same.
If we wait long enough, doing nothing different, something is bound to improve and then we can celebrate the Obama/Clinton greatness.
1
Look - until the government starts spending money on things that are important to me - property protection, public works, national DEFENSE - and stops spending on things that I despise - welfare, imperialist military excursions and endless war, homeland security, business subsidies - I'll lean towards any candidate who offers to cut off their funding and leave me more of my income. Not voting for Trump, but Gary Johnson sure is looking good!
And, according to Paul Krugman - just yesterday - deficits and the debt don't matter, right?
And, according to Paul Krugman - just yesterday - deficits and the debt don't matter, right?
1
This speech is what was meant when republicans wanted to get Mr. Trump under control. They want their cut of the usual action for them and their rich buddies. "Don't say something stupid just long enough to get the gravy, Donald." The rest is irrelevant.
1
Trump and Clinton would do well to plan for the actual future - where 20-30 million existing domestic jobs are going to be replaced by automation in the next 5-20 years, regardless of trade, tax or immigration policies.
5
Republican economic theory is that tax breaks to employers allow them to expand and create jobs for everyone. Democratic economic theory is that tax breaks for the poor get them to buy stuff which benefits employers, allowing them to expand and create jobs for everyone. Both plans enrich the wealthy to benefit workers. The plans are somewhat different but mostly they are alike. Enrich the rich is part of both. Trickle up versus trickle down is the main difference, but either way the parties both understand that they need to enrich the wealthy to benefit the poor.
Any tax plan that reduces the high corporate tax rate without addressing personal tax rates is a fantasy.That's what we have now, except corporations don't actually ever PAY the real rate.
Same old same old.
Same old same old.
2
So this is the "respectable" Donald Trump: proposing the usual right-wing-trickle-down benefit-the-0.1% voodoo nonsense. I almost prefer the old Trump. At least he gives our beloved late-night comedians great material for good laugh after a tough day at the office!
2
Same old plans that have failed every time they have been tried.
3
Another know nothing so called solution from the Orange man. Thanks to the NYTs editorial board for calling Trump out once again.
2
Yes, all true, no doubt. But he read from a teleprompter.
Trump is unfit for the presidency for obvious reasons. Most important are his exaggerated anger, his inability to keep his foot out of his mouth, the lack of substance to his ideas, his gross indiscretion toward others, and his inconsistent policy ideas. Trump, above all, is a loose cannon. Better to remind the public of that than to waste time discussing the estate tax.
1
Trump's losing economic plan, Mr. Trump's negative ratings, Trump's low numbers, Trump is on the rocks, Trump is anything the NYT Editorial Board says he is, until we listen to what Donald Trump, himself, has to say and use our own best judgement.
In a sense, (and this may sound strange) this is going to be the quietest general election ever, yard signs (I suspect) will be thin on the ground, people are going to be keeping relatively tight-lipped about their voting intentions and they are going to vote their way this time. Damn the media, damn the press, damn the politicians, damn the pundits and everyone else who wants to tell the rest of us how to vote or tell us what is right or wrong. We are going to do it our way this time, and we are the silent majority.
You should count our number, we are the majority.
In a sense, (and this may sound strange) this is going to be the quietest general election ever, yard signs (I suspect) will be thin on the ground, people are going to be keeping relatively tight-lipped about their voting intentions and they are going to vote their way this time. Damn the media, damn the press, damn the politicians, damn the pundits and everyone else who wants to tell the rest of us how to vote or tell us what is right or wrong. We are going to do it our way this time, and we are the silent majority.
You should count our number, we are the majority.
As Trump famously said, "I love the poorly educated." With this speech, we know it's precisely because they can't understand how bad his policy propsals will be for them.
Mr. Trump could save a kitten from a burning building and the NYT would blame him for the building's carbon emissions.
Are we over regulated? Ironically the Times has a piece about Carlos Slim, the Times' sugar daddy, losing money due to more regulations. It would be sad if more regulation, albeit in Mexico, caused hard Times here.
Are we over regulated? Ironically the Times has a piece about Carlos Slim, the Times' sugar daddy, losing money due to more regulations. It would be sad if more regulation, albeit in Mexico, caused hard Times here.
I recognize that Hillary has flaws but dumb Donald is so bad, so inept and so dangerous, I don't know how anyone can support him.
3
You're preaching to the choir, where I'm concerned. However, I would appreciate it greatly if articles like this (in their electronic version) could footnote the figures they quote from public sources. I'm a big fan of numbers and statistics, but if the methodology of a quoted estimate isn't given, the bias of the source may be questioned.
A dagger pointed at his own supporters, proudly offering empty bank accounts, a wrecked economy and misdirected resentment as the answer to their problems.
5
As Krugman always says, deficits don't matter. I don't believe him but the NYT does. Repeal of the estate tax, a tax on wealth that has already been taxed, will help farm owners whose farm values cause huge taxes that can't be paid. The fact is that the "rich" hire lawyers and set up trusts never paying estate taxes. Only the small businesses get hurt so the NYT is completely wrong. The corporate tax rate is discouraging the growth of companies in the US and Obama himself bemoans the fact that companies are moving overseas to avoid those taxes. Overall, reducing the federal budget and the size of government would unleash the biggest economic boom in our history. The NYT deficit estimates assume that the size of government cannot be cut drastically and this assumption is just wrong. Government is the problem and more government just yields more regulations and impediments to business. The Trump economic plan is a clear winner and what we have been doing for 7.5 years certainly isn't. Lastly, the NYT comments show are immoral because poorer less educated folks need a job, not a government handout and the NYT recommended policies have sent millions of jobs overseas and placed millions on welfare, food stamps and destroyed their self respect. Truly an immoral policy recommendation.
2
It's time to change the name from the NY Times to Hillary's Pravda.These editors did not listen to the Trump speech or if they did then each editor needs a hearing/comprehension test.
1
>>>>
Do not underestimate the Crazy Ape's belief in the alchemy cutting taxes.
The fact that so few of them have the slightest conception of tax theory only makes it more likely.
Do not underestimate the Crazy Ape's belief in the alchemy cutting taxes.
The fact that so few of them have the slightest conception of tax theory only makes it more likely.
2
If Trumpolini does not release his tax returns, exactly what qualifies him to advance any tax related proposals? Pray tell ........
2
No businessperson in their right mind hires more people because you give him more money. You hire someone because that hire will result in more money in your pocket, because you have the increase in sales/demand to justify adding an employee. Each hire adds to the bottom line. Period. This is baby-economics.
Now, to pervert the trickle-down scheme to it's loftiest height, create a tax bracket plan whereby a business can reduce it's tax rate for each new X number of employees it hires so we're certain the reduction really results in an increase in employment.
Now, to pervert the trickle-down scheme to it's loftiest height, create a tax bracket plan whereby a business can reduce it's tax rate for each new X number of employees it hires so we're certain the reduction really results in an increase in employment.
2
Of course they would. No ne could ever do a better job on the economy than Barack Hussein Obama could, could they? Once you get past the
"Democrat=good, Republican=bad" infantile mindset of those writing for the Times, you might get a look at the facts. They are simple: small government (lower taxes)=economic growth. Always. Every time. Without exception. Reduce tax rates=more tax revenue collected. Always. Every time. I realize this doesn't fit not to your elitist central planner mindset, but fact are facts. Even if you are stillignorant enough to ignore them.
"Democrat=good, Republican=bad" infantile mindset of those writing for the Times, you might get a look at the facts. They are simple: small government (lower taxes)=economic growth. Always. Every time. Without exception. Reduce tax rates=more tax revenue collected. Always. Every time. I realize this doesn't fit not to your elitist central planner mindset, but fact are facts. Even if you are stillignorant enough to ignore them.
1
What will it take to finally kill this supply-side zombie? Clearly facts and experience with the failed Kansas experiment aren't enough!
1
Cutting taxes makes no sense at all when you are already running a deficit as it will simply shoot the deficit sky-high.
If you owe $10,000 already in credit card debt, would you take out a new loan for an additional $5000 so that you can live high on the hog with no prospect of paying the money back?
If you owe $10,000 already in credit card debt, would you take out a new loan for an additional $5000 so that you can live high on the hog with no prospect of paying the money back?
1
What are Clinton's proposed policies here? Come on NY Times, stop being All-Trump all the time. I want to know more about Clinton. And not about the emails!
1
The Trumpnomics are embarrassing. Did he really go to Warton-or did he just sit there for 2 years. His economic advisers wrote this plan. 10 billionaires eliminating the estate tax that would only apply to them and a few others.
Are you kidding. What an ignorant person Trump is . He is in a word destructive and everything he touches crumbles-oh except for his own self interest.
Are you kidding. What an ignorant person Trump is . He is in a word destructive and everything he touches crumbles-oh except for his own self interest.
2
The first appeal that Donald Trump had for working Americans was that he was a billionaire, he didn't need anybody's money, and he knew were all the tax bodies were buried. Well that's all over now baby blue. Next!
2
Trump managed to read from a Teleprompter (an item he much derided President Obama for using) while turning his previously stated economic "plan" into a whirling dervish of allegedly new proposals.
The only problem is that his "new" plan is nothing more than a standard GOP rehash of its standard economic plan: The rich get richer, regulations that keep us both financially safe and healthy are gutted. And to no one's surprise, the deficit goes way, way up....yuuuuuggggely up.
Sorry, Donny. Your "plan" only works if the reader is in the top tax bracket. The rest of us? We get the shaft from the GOP...as usual.
The only problem is that his "new" plan is nothing more than a standard GOP rehash of its standard economic plan: The rich get richer, regulations that keep us both financially safe and healthy are gutted. And to no one's surprise, the deficit goes way, way up....yuuuuuggggely up.
Sorry, Donny. Your "plan" only works if the reader is in the top tax bracket. The rest of us? We get the shaft from the GOP...as usual.
4
After all the talk and bluster coming from him this past year I was looking forward to seeing what his plan was all about. Well was I ever disappointed. Its just the same old to help the rich. I do not think the average person needs to worry about the federal estate tax. A child care tax credit is only worth something if you pay a lot of taxes. Taking away all the regulations on business and bringing back the coal industry sounds like a very bad idea.Well, I was sort of afraid he would have something great to say and I would have to rethink my vote. Well there was no reason to think that!!!
2
Trump loses all credibility with his white male team of tax avoiders and non contributors. Eliminating the estate tax just makes permanent all of the gains since the crash they created or profited got rich from. (Talking to you mr. Paulson.).
It is patriotic to pay your fair share. Investors should pay the same or higher rates as workers. If trump doesn't start there he has zero credibility.
It is patriotic to pay your fair share. Investors should pay the same or higher rates as workers. If trump doesn't start there he has zero credibility.
1
When I listened to all CNN commentators last night about Trump's economic plans, I was just flabbergasted that nobody was referring to how disasterous his plans would be for the global climate issue and only accellerate the warming up of the earth and all its negative effects on the economy.
Trump will benefit the most from his tax plan. Why would you vote for a con man/fraud who cheats Americans everyday by manufacturing abroad, hiring temporary foreign workers, employing bankruptcy, and refuses to show his taxes? Trump is leading us to poverty and increasing economic inequality.
1
Anyone who in one breath says "ours is the campaign of the future" and in the next "we will put coal miners back to work" is clearly out of touch. Were he to implement the policies he's proposed, it would set back environmental protection and climate change mitigation by decades.
3
The supporters that Trump is left with after most thoughtful Republicans desert him can't analyze the pros/cons of his vs Hillary's tax plans. I'm sure that most of his remaining supporters aren't NY Times readers.
All that they need to know is that he will "make America great again."
All that they need to know is that he will "make America great again."
1
A Delusional trump continues to break new ground. A con man adds to his scams.
End of story.
Till "Huge Trump Failure!" Hits the newsstands on Nov. 9, 2016.
Followed by: "Trump Mobs" becomes a headline on Nov. 10, 2016.
I hope Homeland Security is well prepared...
End of story.
Till "Huge Trump Failure!" Hits the newsstands on Nov. 9, 2016.
Followed by: "Trump Mobs" becomes a headline on Nov. 10, 2016.
I hope Homeland Security is well prepared...
1
"Mr. Trump considers himself a businessman..." (Times)
Most everybody else considers him a mentally deranged CONMAN!
Most everybody else considers him a mentally deranged CONMAN!
2
what a looser
1
You can sum up Trumps economic policy (to the extent you can call his tirade of half baked retread of rightwing talking points a policy) as simply: start a trade war, bankrupt the nation, fill the air with smog, put more led in Flynt's water, buy guys like him a new personal jet, and start the next great depression.
Apparently Mr. Trump was not satisfied with more or less these same policies causing the Greatest Recession under Bush2, he now wants to start the Greatest Depression because, of course, he's the Greatest.
Apparently Mr. Trump was not satisfied with more or less these same policies causing the Greatest Recession under Bush2, he now wants to start the Greatest Depression because, of course, he's the Greatest.
2
I know the Times hates Trump, and I'm not a fan either. However, the Editorial Board has made a beef-stew-of-a-discussion around policies, lumping everything together in one pot and calling it awful.
On the 15 % corporate tax rate proposal, the Times says the effective rate for corporate tax in the US is ~18% including state and local taxes. So, a flat 15% Federal tax seems fair, no? And it would put an end to the evasive shenanigans of inversions. However, it will hurt the accounting industry ;)
On regulation, one cannot make a blanket statement, either about promoting or killing competitiveness. It depends on the regulation. Some are no doubt excessive and some, like mandatory seat belts in cars, benefit society greatly. Trump would do better by cherry picking some Federal whoppers and discussing them specifically. Neither Trump nor the Times is correct here.
As for Obama's "job killing" policies, the employment and job creation stats - flawed as they may be - since 2008 speak for themselves.
The Estate Tax proposal is repurposed Republican hogwash. I don't know a single middle-class couple with assets of $10.9 million to pass along. Most are hoping to not go broke during their end of life phase in a nursing home or hospital to leave a few shekels to their kids and grand-kids.
Reducing income tax to Regan levels. More recycled and repudiated Republican economic theory. No competitive advantage here.
On the 15 % corporate tax rate proposal, the Times says the effective rate for corporate tax in the US is ~18% including state and local taxes. So, a flat 15% Federal tax seems fair, no? And it would put an end to the evasive shenanigans of inversions. However, it will hurt the accounting industry ;)
On regulation, one cannot make a blanket statement, either about promoting or killing competitiveness. It depends on the regulation. Some are no doubt excessive and some, like mandatory seat belts in cars, benefit society greatly. Trump would do better by cherry picking some Federal whoppers and discussing them specifically. Neither Trump nor the Times is correct here.
As for Obama's "job killing" policies, the employment and job creation stats - flawed as they may be - since 2008 speak for themselves.
The Estate Tax proposal is repurposed Republican hogwash. I don't know a single middle-class couple with assets of $10.9 million to pass along. Most are hoping to not go broke during their end of life phase in a nursing home or hospital to leave a few shekels to their kids and grand-kids.
Reducing income tax to Regan levels. More recycled and repudiated Republican economic theory. No competitive advantage here.
6
The point is, when your whole point is that tax cuts for the wealthiest will crank up the economy so you cut taxes on the wealthiest down to what they actually pay already, you're unlikely to crank up the economy.
That's assuming, of course, that tax cuts for the wealthiest stimulate the economy at all.
For which there is no evidence.
That's assuming, of course, that tax cuts for the wealthiest stimulate the economy at all.
For which there is no evidence.
Mr. Trump is a marketing expert. He has no integrity whatsoever, so he just repeats anything anyone else has said that is successful. He took "rigged from Bernie, and the only parts of this are popular are Republican so-called ideas that have done nothing but harm.
Unfortunately, most people think cutting taxes is the most important thing in the world, and seem not to connect it with degraded infrastructure and enabling sociopathic greedsters to loot with impunity.
This one is the worst yet at not counting the cost of making promises that will tear down what's left of our common good.
He's clever at marketing, but completely lacking in any thought process that connects cause with effect. He does what sells.
Disgusting!
Unfortunately, most people think cutting taxes is the most important thing in the world, and seem not to connect it with degraded infrastructure and enabling sociopathic greedsters to loot with impunity.
This one is the worst yet at not counting the cost of making promises that will tear down what's left of our common good.
He's clever at marketing, but completely lacking in any thought process that connects cause with effect. He does what sells.
Disgusting!
11
If anyone if anyone needs a tangible example of how all of these policies don't work, merely look at the state of Kansas. The governor and the legislature passed all of the things that Trump has proposed with the result that the state has massive deficits, had its credit rating downgraded and can barely pay for a handful of basic services. Kansas has aptly proven that the republican mantra is dangerous.
15
Trump's speech with a "jump start" to this country is a good idea and should be implemented although I doubt Hillary Clinton (with her severe lack of business acumen) will be able to come up with anything substantial for the country. The problem is raising taxes on everyone (and that is always the end result) just leaves everyone with less discretionary income. But the Socialistic Democratic Party wants just that: they want people government dependent so they can control.
"But the Socialistic Democratic Party wants just that: they want people government dependent so they can control."
Republicans are GOOD; Democrats are BAD.
Just what kind of simple-minded paranoid hogwash is this?
Do we live in the same country?
Republicans are GOOD; Democrats are BAD.
Just what kind of simple-minded paranoid hogwash is this?
Do we live in the same country?
1
Of course the flaw in this argument is that the actual numbers say the opposite, which is why you refuse to look at the actual numbers.
For that matter, I'll bet you're supporting supply-side economics without knowing what that even is, let alone who Arthur Laffer is, let alone what happened when Reagan tried it, let alone why he backed off and raised some taxes, let alone what hiw own budget director has had to say.
Oh, and the socialist stuff is just silly.
For that matter, I'll bet you're supporting supply-side economics without knowing what that even is, let alone who Arthur Laffer is, let alone what happened when Reagan tried it, let alone why he backed off and raised some taxes, let alone what hiw own budget director has had to say.
Oh, and the socialist stuff is just silly.
1
Chutzpah is what I believe it is called. Propose more of the same tax cuts for the wealthy, "trickle down" economics that have failed every time the Republicans enact it them and then turn around and claim Clinton is just more of the same.
Well, if an improving, though not perfect, economy is from the great recession "more of the same" from Clinton I'll take that over "more of the same" Republican policies that almost sank the economy in the first place.
Well, if an improving, though not perfect, economy is from the great recession "more of the same" from Clinton I'll take that over "more of the same" Republican policies that almost sank the economy in the first place.
7
Trump neither knows of what he speaks nor believes what he speaks. If he thinks that saying something will garner either votes or publicity, he will say it. The press must stop accepting his pronouncements as having substantive content. They do not; they are all about the hyperbolic performance artistry that is Trump's campaign. At some point soon, he will need to stand on a stage and debate economics with Clinton, and that should be a very interesting evening.
7
Even more interesting if Johnson gets to join those debates.
1
Trump continues to oppose TPP. Consistent with that position he proposes a lower corporate tax rate which will encourage companies to remain here and reinvest in America, and he is also proposing less government regulation which will be another incentive to keep jobs here. So he is not proposing a "grab bag" of ideas as the NYT suggests but a coordinated plan that will save American jobs. Hillary, however, dissembles about TPP and wants to keep the corporate tax rate high, which will cause companies to continue to export jobs and keep their profits offshore. She would also increase the regulatory burden. We cannot afford to continue this policy. Of course, the NYT will illogically oppose Trump no matter what he does and will not give him credit for anything. Can we have more balance please?
1
Ed writes: [Trump] proposes a lower corporate tax rate which will encourage companies to remain here and reinvest in America,
I am not sure why people believe that. That suddenly people greedy enough to move their company abroad will suddenly start "investing" and sharing the wealth. The tax cuts will do little for investment or workers, but will certainly allow those who own and those who get the big checks based on profit to keep more for themselves. And move to where they can cut other costs.
I am not sure why people believe that. That suddenly people greedy enough to move their company abroad will suddenly start "investing" and sharing the wealth. The tax cuts will do little for investment or workers, but will certainly allow those who own and those who get the big checks based on profit to keep more for themselves. And move to where they can cut other costs.
1
It doesn't bother you in the least that you have no evidence whatsover for a single scrap of that, let alone that last time we tried it--around 2001--we ballooned the debt and deficit, handed trillions to the wealthiest, and started ourselves down the road to an immense crash.
2
The editorial board is on shaky ground when they defend the status quo on phony free trade, which for 30 years has allowed the massive offshoring of jobs and wealth to economies with low labour standards, low wages, worker rights, environmental, health and educational standards. Delivering shrinking middle class- now less than 50% of the population , tepid growth and deflationary trap... Apart from that "free trade" has been a great success? Free trade among free nations is what is really fair.
2
Trump basically wants to defund government. The first things to go would be valuable social programs like Social Security and Medicare. He wants to do away with regulations that are aimed at preventing the robber barons from crashing the economy. Remember the 2008 recession? He knows about as much about economics as I know about quantum mechanics. The man is a fool. A dangerous fool.
4
Democrats, repeat after me, "Silver Spoon Tax". Repeat. Again. And when someone labels the estate tax the "Death Tax" please let them know that they are speaking blasphemy. Only God can collect a death tax- the Government removes the dead from their tax rolls last I heard.
If my hard earned salary is taxed by the government I fail to see why Trump's spoiled children should be entitled to receive manna from dead Daddy without paying their fair share of this income. If anything, it should be taxed more aggressively to help propel American meritocracy.
If my hard earned salary is taxed by the government I fail to see why Trump's spoiled children should be entitled to receive manna from dead Daddy without paying their fair share of this income. If anything, it should be taxed more aggressively to help propel American meritocracy.
6
Of course the NYT doesn't like Trumps Plan. The NYT wants greater taxes and spending, and more regulations so the government is more able to control and dominate it's citizens. This is how the left obtains and grows it's power base.
Seems like anything that will reduce the size and scope of the federal government is taboo to the left. Every new regulation increases the size and the scope of Government, and lessens liberty for it's citizens. This is not brain surgery. Finally we have a candidate who will address this problem.
The only thing that will help reduce poverty and increase overall wages and wealth is a strong, growing economy. This is Trumps mission. We have had record slow economic growth for the last 7 years. If you truly care about the poor and impoverished improving their lot in life vote Trump. If you just want poverty to be a little more bearable vote for Clinton and the continuation of the past 7 years. The choice is that simple.
Seems like anything that will reduce the size and scope of the federal government is taboo to the left. Every new regulation increases the size and the scope of Government, and lessens liberty for it's citizens. This is not brain surgery. Finally we have a candidate who will address this problem.
The only thing that will help reduce poverty and increase overall wages and wealth is a strong, growing economy. This is Trumps mission. We have had record slow economic growth for the last 7 years. If you truly care about the poor and impoverished improving their lot in life vote Trump. If you just want poverty to be a little more bearable vote for Clinton and the continuation of the past 7 years. The choice is that simple.
1
Win or lose, Trump is an architect of change. He is a warning of things to come--a jester perhaps, but he speaks the truth to the unwilling court. Hillary will continue business as usual and then, when things get bad enough and her incompetence is exposed, there will be a political blood bath that can scarcely be imagined. In the meantime let the upholders of the status quo Democrat and Republican alike continue their Masque of the Red Death.
1
Trump's recipe is exactly the one the exacerbate income inequality. Trickling down does not work. It just make the rich, richer, and the poor, poorer. Trickling down was instituted with Reagan for now for almost half a century and inequality keeps increasing. Isn't it foolish to keep doing the same thing and hope that things will change? I am not being completely truthful here. Trump do want to change one thing: kill all the trade deals and isolate ourselves. It will definite stop the growth of our economy dead in the water. Would it reduce inequality? That is harder to say. It may but does it matter? Let me think about some isolated economies in history: Incas in the 16th century, Japan in the 17th century, China in the 18 and 19th century. All of them were great, isolated, empires on their own right. With a tiny push, everyone of them fell so hard. However, we are not supposed to think. Damn the torpedoes, full speed ahead. We must follow the lead of the Fuhrer. Sign me on up Trump's Dodo Bird Plan. I wonder what is the converse of "a rising tide lifts all boat." Bad, bad, stop thinking and just follow.
1
Drumpf's big "new" economic agenda is to cut taxes and regulations.
Sounds familiar, doesn't it?
It's been the GOP mantra since Reagan and it helped destroy the economy and bring us to this feudal place of obscene income and wealth inequality. Turns out, when you cut rich people's taxes, they don't go on hiring sprees (at least not in the USA) -- they pocket the cash.
Drumpf/the GOP's ideas have been put into full effect in Kansas, and the state is now ruined.
Meanwhile in California, which rid itself of the Republican plague entirely, the economy is booming under the hideous "tax-and-spend" liberalism we've all been trained by decades of propaganda to despise.
Drumpf's "new" economic agenda is more of the GOP same.
Can the cause be the cure? I don't think so.
Sounds familiar, doesn't it?
It's been the GOP mantra since Reagan and it helped destroy the economy and bring us to this feudal place of obscene income and wealth inequality. Turns out, when you cut rich people's taxes, they don't go on hiring sprees (at least not in the USA) -- they pocket the cash.
Drumpf/the GOP's ideas have been put into full effect in Kansas, and the state is now ruined.
Meanwhile in California, which rid itself of the Republican plague entirely, the economy is booming under the hideous "tax-and-spend" liberalism we've all been trained by decades of propaganda to despise.
Drumpf's "new" economic agenda is more of the GOP same.
Can the cause be the cure? I don't think so.
98
Yes, California's tax plans, especially the PROGRESSIVE state income tax, if implemented all across the country that would be hugely benefit all.
I wish every state put that provision on the ballot.
I wish every state put that provision on the ballot.
2
Anytime conservatives dust off a version of their supply side/trickle down tax theories to try to make a rickety old two-wheeled bicycle look like a Seqway needs to look at the experience in Kansas. This isn't theory--it is application, big time. And, businesses did not dramatically expand or uproot from the other 49 states in a 21st Century version of the land rush to move to Kansas. The tax policies of the Governor Sam Brownback & Company have been a complete failure--a failure that was finally rejected by the bulk of the electorate in Kansas last week.
Mr. Trump and his handlers want to bring this experiment to a national level. The funk of 2008-2010 will look like halcyon days of economic progress if that happens.
Mr. Trump and his handlers want to bring this experiment to a national level. The funk of 2008-2010 will look like halcyon days of economic progress if that happens.
72
This is my only consoling thought should there be (God forbid) a Trump victory and a GOP sweep of the House and Senate (not to mention numerous governorships) -- that having 4 years of this stuff fully and thoroughly foisted upon us will finally (finally!) utterly convince ALL of the public of the absolute inutility ofthis kind of economic nonsense to deliver prosperity to anyone but the 0.1%. Some folks just have to learn things the hard way it seems. Trickle-down economics is utterly akin to the old board game Monopoly -- where the guys who end up owning Park Place win the whole shebang and everybody else is thrown out of the game. In Monopoly the game just simply ends with 1 winner (and no more mention of the losers), but in real life, those poor losers are all STILL here.
1
Of course the central proposal is huge tax cuts. Once done, nothing else will matter. There just won't be any money available for Social Security, Medicare, education, child care, infrastructure repair or enforcing any law or regulation. In other words starve the beast. Just the same old Republican same old from the "revolutionary" Donald Trump.
71
In a rational world, this election would focus primarily upon HRC’s nutty economic proposals, to tax, borrow, spend, and regulate our way to prosperity. Indeed, DT’s initial tax proposals were even better, but it should certainly be possible to simply readopt the salutary enactment of 1986, written by the radical conservative – Bill Bradley (DNJ) – and the spending levels of that noted Republican – William Jefferson Clinton – 18.5% of GDP. In short, back when the Dems were marginally sane, we got good policy.
But the Dems long ago wandered off into the envy-besotted socialist wilderness, in which the paltry $10 T in new debt BHO racked up is considered a model to be emulated and built upon. (Curious, isn’t it, that Krugman advocated for massive new debt in these pages just yesterday, but, today, you’re concerned about deficits?)
When the NYT makes Justin Trudeau sound like a Republican (he favors a 15% corporate rate), you know that the American left has simply taken leave of its senses.
Supply creates its own demand; demand does not create supply. And investment creates supply.
While you’re right about the TPP, I seem to recall another prominent candidate opposing it.
The only problem with DT’s proposals is that they don’t go far enough. The correct corporate rate is 0%. You oppose it NOT because it’s bad economics, but because you’re concerned the money would go to the “wrong” people: those who earn it. Envy ... er, trumps economics every day.
But the Dems long ago wandered off into the envy-besotted socialist wilderness, in which the paltry $10 T in new debt BHO racked up is considered a model to be emulated and built upon. (Curious, isn’t it, that Krugman advocated for massive new debt in these pages just yesterday, but, today, you’re concerned about deficits?)
When the NYT makes Justin Trudeau sound like a Republican (he favors a 15% corporate rate), you know that the American left has simply taken leave of its senses.
Supply creates its own demand; demand does not create supply. And investment creates supply.
While you’re right about the TPP, I seem to recall another prominent candidate opposing it.
The only problem with DT’s proposals is that they don’t go far enough. The correct corporate rate is 0%. You oppose it NOT because it’s bad economics, but because you’re concerned the money would go to the “wrong” people: those who earn it. Envy ... er, trumps economics every day.
1
In order to bring manufacturing jobs back to America, I propose that we destroy the internet, robots and computers so everything has to be created by hand. I also suggest we raze all grocery stores so we can really take our country "back" to hunt and gather our way to economic dominance in the world. (I hope Trump and Pence aren't reading this entry. I don't want to give them more "ideas".)
On a serious note, it appears that folks who lost manufacturing jobs are the most angry. At a time when warnings are sounding about the coming lack of skilled tradespeople, many of these people could train to become desperately needed electricians, plumbers, carpenters, etc. That would benefit everyone much more than building a silly fence.
On a serious note, it appears that folks who lost manufacturing jobs are the most angry. At a time when warnings are sounding about the coming lack of skilled tradespeople, many of these people could train to become desperately needed electricians, plumbers, carpenters, etc. That would benefit everyone much more than building a silly fence.
5
The bias against tax cuts and spending cuts is obvious here. Clearly, the real problem is Trump himself. Since a Hillary victory seems inevitable (unless she blows it--not out of the question), it is her policies that are in question. Taxing the rich, reducing deductibles etc sound great but don't solve the problem of a stagnant economy. Indeed, they make things worse.
Tax cuts and spending cuts have been destroying our country in a big way, escalating since Reagan. They don't work.
3
They make things worse? Where in the real world do you see this as being the case? Your Reaganomics 101 textbook doesn't count.
1
A lower corporate tax rate might be good, but a fairer tax program would be better. All corporations should pay a fair tax on their profits. Too many special purpose write-offs, incentives, and accounting tricks inspired by lobbyists make a mockery of the 35% rate that is advertised. As stated, the EFFECTIVE rate in 2015 was 18.1% including state and local taxes. However there is great dispersion around that 18.1%. Some companies paid much, much more whiles others paid much, much less, even zero. Of course there is no simple solution that will magically appear in a 'fair' tax code but most agree that one is needed. So the question is, can Trump steer the negation in a reasonable direction? I don't think so - it's too complex for a 140 character solution.
1
Much, if not all, of what the Republican nominee proposes has been tried out at different times and in different combinations. It's interesting to read and hear that a candidate who rails against current norms, and proposes to revolutionize our economy, merely proposes to degrade our environment(s) socially, culturally, financially, and existentially.
2
"Mr. Trump’s earlier pledge to put a 45 percent tariff on all Chinese goods would almost certainly start a trade war that would harm American industries that export goods to China." Who cares? A red-herring argument if there ever was one. US trade deficit with China approaches $45 billion/ month; and growing. There is no way China will engage in a "trade war" with the US because it would be the loser by a mile. The US is the biggest consumer of China's manufacturers - and as a Macy's executive would agree - you don't mess with your biggest customer.
Trump is right - the US holds the cards - but refuses to play with these. China is a proven currency manipulator, a thief of US patents, an obstructionist to any US company seeking a presence there, and a "dumper" of its products on the US market. Time to get tough and protect US jobs for the middle class.
Trump is right - the US holds the cards - but refuses to play with these. China is a proven currency manipulator, a thief of US patents, an obstructionist to any US company seeking a presence there, and a "dumper" of its products on the US market. Time to get tough and protect US jobs for the middle class.
There was, was there not, a passage in his speech where he said "under my presidency for some categories there will be 0% taxes." Yes, either I misheard it or he said Zero! If elected we will have a president that encourages tax evasion for the very first time in the history of the USA. I do not recall any other president that supports illegality, fraud, and wrongdoing, effectively trying to create more and more poverty, hardship, famine, distress and starvation, as if there weren't enough.
Poor people pay 0% in income taxes now. People working two or three jobs and not getting by, without proper health care or public schools, are burned by regressive fees and sales taxes, as well as the payroll tax, which is only charged on income that is actually needed to get by, and stopped at the level where people could easily afford it.
If the payroll tax were charged on all income, the rate could be cut significantly, and it would be a true "flat" tax. Now, it's a tax on the lowest-income working and middle class only, a reverse robin hood.
Stealing pennies from the poor and looting common property (big agriculture, ocean scraping, come to mind) is what makes billionaires billionaires.
If the payroll tax were charged on all income, the rate could be cut significantly, and it would be a true "flat" tax. Now, it's a tax on the lowest-income working and middle class only, a reverse robin hood.
Stealing pennies from the poor and looting common property (big agriculture, ocean scraping, come to mind) is what makes billionaires billionaires.
3
Crooked lying Trump is so full of himself, a dangerous clown trying to demagogue the issues by promising his fans the impossible, a return to the 'good old days'...in a globalized economy. His thoughts, if any, are provincial; he is not dumb, just an arrogant and willful ignorant that wouldn't hesitate to tank the country for his own petty interests; anything really, as long as he reaches the pinnacle of a non-political career, the presidency of the United States. That he considers 'climate change, among other proven facts, a hoax, is a disgrace really. Trump id a vulgar bully that cannot be trusted. Besides, his racist, xenophobic, misogynous and thoughtless innuendos do tell us of his despicable character and temperament, oblivious to other people's needs and feelings. He is a disgrace and a fraud, ready to bankrupt the country (moral and financially). Electing him president would reveal we are more stupid than anticipated. And if so, deserving of his bull.
2
Ivy League economics & global warming is meaningless to millions of Americans that have lost good paying jobs to technology, I love that word technology, which is an over blown excuse for the loss of American jobs. Technology cannot improve upon a dog collar that Americans used to manufacture, nor shoes that was once produced in America, or a multitude of appliances that are no longer produced here. These jobs were lost to low cost labor, & Americans that made these products were ignored by the political establishment, and are still ignored.These jobs should never have been lost to China or elsewhere. Manufacturers who could not compete. with China’s manipulation of their currency against the dollar,Should have had their taxes reduced in order to keep Americans on the job,The loss of Corporation taxes would have been made up by taxes from the workers that kept their jobs.CEOs should also contribute by cutting part their bonuses & putting it back into the businesses they managed.Jobs are far more constructive then entitlements to Americans who have been living off the Government, & never earned a pay check, & have become a drain on the tax payer.
Trump may not be the man but perhaps the Trump & Sanders revolution will teach an important lesson to our future leaders, that all Americans matter, not just the share holders.
Trump may not be the man but perhaps the Trump & Sanders revolution will teach an important lesson to our future leaders, that all Americans matter, not just the share holders.
2
Cut taxes for the wealthy and big business and reduce regulations on corporations. With the exception of not supporting trade packs, exactly how is Trump the anti-establishment candidate? Here's a new conspiracy theory: Koch Bros. are secretly financing the Donald, someone who is willing to trade in the normal GOP racist dog whistle for a megaphone. Once he's in office his "voice of the people" is narrowed to the interest of a few of his wealthy friends.
OK, so maybe the conspiracy part is a little far fetched. But I think the result is the same. The Donald is just as pro big business as his GOP predecessors and once again working class whites are being duped into voting for someone with almost no interest in improving their lives.
OK, so maybe the conspiracy part is a little far fetched. But I think the result is the same. The Donald is just as pro big business as his GOP predecessors and once again working class whites are being duped into voting for someone with almost no interest in improving their lives.
Everyone who says Trump's economic plan is bad must like what has been happening over the last seven years. Lowest GDP in history, lowest job participation rate since World War II. No middle class wage increase, more people on government subsidies etc. while at the same time the upper one percent get richer and more government regulations. Trump has a workable plan, Hillary when she ran for the Senate promising two hundred thousand jobs and then upper New York lost twenty four per cent of jobs during her tenure is an example of her feckless policies and she promises more of the same. I will go with Trump.
1
The Trump’s “economic plan” is plan for the rich to walk away with more money. If you are middle or working class, it can and will get a lot worse under Trump. He has regurgitated trickle-down economic theory, which since Reagan has only served the rich. And, regardless of Trump's campaign "promise" -- an oxymoron if there ever was one -- say goodbye to your Social Security and Medicare to pay for the Trump tax cuts.
I could not say it better than the Pope:
"Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world. This opinion, which has never been confirmed by the facts, expresses a crude and naïve trust in the goodness of those wielding economic power and in the sacralized workings of the prevailing economic system. Meanwhile, the excluded are still waiting."
"Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world. This opinion, which has never been confirmed by the facts, expresses a crude and naïve trust in the goodness of those wielding economic power and in the sacralized workings of the prevailing economic system. Meanwhile, the excluded are still waiting."
90
Trump fans and a lot of Independent voters (32% for Trump; 30% for Clinton) don't care--or maybe can't/won't process--what Trump's retread economic "plan" that further enriches the rich and runs the nation into the ground means for them and this country.
Trump's economic plan is right out of his playbook for Trump University, where Trump made all kinds of promises about allowing his victims to learn about his success secrets for selling real estate by spending or going into debt for tens of thousands of dollars and getting nothing but debt in return.
I wish reporters would spend more time interviewing Trump supporters to find out what they are thinking, especially about economic issues.
Do his supporters think Trump University was a great business model that would well for this country?
What about Trump, who goes into bankruptcy multiple times and brags about it, while millions of Americans in bankruptcy (a lot for medical bills) are trapped for years in financial disaster?
Do they feel any empathy for the middle- and working-class people Trump has stiffed in his business career?
Do they still think Reagan's flimflam trickle down economics, lowering taxes on the rich, and government deregulation work well for middle class Americans?
How exactly do they think Trump alone can keep American jobs from going abroad?
Do they not care about the effects of climate change, or what do they even know about climate change?
Why do men like Trump so much?
Trump's economic plan is right out of his playbook for Trump University, where Trump made all kinds of promises about allowing his victims to learn about his success secrets for selling real estate by spending or going into debt for tens of thousands of dollars and getting nothing but debt in return.
I wish reporters would spend more time interviewing Trump supporters to find out what they are thinking, especially about economic issues.
Do his supporters think Trump University was a great business model that would well for this country?
What about Trump, who goes into bankruptcy multiple times and brags about it, while millions of Americans in bankruptcy (a lot for medical bills) are trapped for years in financial disaster?
Do they feel any empathy for the middle- and working-class people Trump has stiffed in his business career?
Do they still think Reagan's flimflam trickle down economics, lowering taxes on the rich, and government deregulation work well for middle class Americans?
How exactly do they think Trump alone can keep American jobs from going abroad?
Do they not care about the effects of climate change, or what do they even know about climate change?
Why do men like Trump so much?
2
Over recent decades, they share of tax revenues collected has steadily shifted from corporate to individual taxpayers in the USA. The amount of revenue collected also consistently lags behind costs, the difference made up by borrowing.
At what trickle down point do more tax cuts for those paying less than I do but making 10, 100, 1,000 or even 10,000 times as much each year, make sense?
Enough already. Time for serious ideas in Amurca, not sloganeering.
At what trickle down point do more tax cuts for those paying less than I do but making 10, 100, 1,000 or even 10,000 times as much each year, make sense?
Enough already. Time for serious ideas in Amurca, not sloganeering.
2
Time after time since the Reagan era, the economic ideas and policies perpetrated by Republicans in the White House, Congress and statehouses across the land have failed. It is time for change.
Trump offers no solutions; he doesn't even ask intelligent questions. His speech yesterday simply made it clear that he is as great a threat to our economy and our environment as he is to our national security.
I will vote for Clinton in November. I expect her to heed the message delivered by Bernie Sanders: The economy is rigged in favor of the very rich, and is harming everyone else. Wall Street, banks, corporations must be curbed, reformed and strictly regulated. That's just for starters.
Not only will I vote for Hillary Clinton - with all her faults, real and perceived - I will not vote for any candidate labeled Republican. The elephant needs to die and those who have been riding it need to sit for awhile and ponder how they can be part of the solution instead of being the problem.
Trump offers no solutions; he doesn't even ask intelligent questions. His speech yesterday simply made it clear that he is as great a threat to our economy and our environment as he is to our national security.
I will vote for Clinton in November. I expect her to heed the message delivered by Bernie Sanders: The economy is rigged in favor of the very rich, and is harming everyone else. Wall Street, banks, corporations must be curbed, reformed and strictly regulated. That's just for starters.
Not only will I vote for Hillary Clinton - with all her faults, real and perceived - I will not vote for any candidate labeled Republican. The elephant needs to die and those who have been riding it need to sit for awhile and ponder how they can be part of the solution instead of being the problem.
4
What bothers me most about Trump and his economic plan is not only the plan itself as laid out in this Editorial, but the his advisers that is behind the plan. They are mostly short-term business entrepreneurs that work on the short term economy of time is money and the quicker the turn around, the better. I work for a public utilities that distributes electric and water in the engineering department. My primary role is to manage various new construction projects ranging from residential, commercial and industrial, and have worked with many different developers from local to national. Their primary motive in business is how fast they can construct the project and sell it. Their about short term planning and putting out short term fires to ake sure their development goes forward. That mindset of thinking is not what the largest economic country in the world with many complexities that range from short term the the very long term needs ever.
1
I'm a college student. That puts me in a position to have a lot of expectations. I expect that I will be able to find a job and affordable housing will be available nearby. I expect that, when I am older, I won't have to fear for the future of young people on our planet. I know that America has always been able to engineer new solutions to our daunting problems, be they transcontinental transportation, world war, incurable diseases, racial and social injustice, or even climate change. I expect that our leaders see the magnitude of these challenges and face them head on, unafraid to unleash the American engine of progress and ingenuity to drive us further forward.
Here stood Donald Trump, in Detroit—the city that powered America through the 20th century with automobiles, bombers, pioneering medical breakthroughs; the city that rioted for civil justice, that later fell on hard times—in my state, and what said he? Cut corporate taxes! Repeal the estate tax! Revolutionize energy by returning to the 1950s! Wall ourselves off from the world!
This is the city that took in Greeks and Chinese, Poles and Chaldeans, Mexicans and blacks from the South. We have never looked inward, and never looked back. We opened our arms and said "Together, we will make America. We will be America." America does not stand for what Donald Trump says. Detroit does not stand for what Donald Trump says. If he wants to Make America Great Again, he should ask Detroit how: by relentlessly looking forward.
Here stood Donald Trump, in Detroit—the city that powered America through the 20th century with automobiles, bombers, pioneering medical breakthroughs; the city that rioted for civil justice, that later fell on hard times—in my state, and what said he? Cut corporate taxes! Repeal the estate tax! Revolutionize energy by returning to the 1950s! Wall ourselves off from the world!
This is the city that took in Greeks and Chinese, Poles and Chaldeans, Mexicans and blacks from the South. We have never looked inward, and never looked back. We opened our arms and said "Together, we will make America. We will be America." America does not stand for what Donald Trump says. Detroit does not stand for what Donald Trump says. If he wants to Make America Great Again, he should ask Detroit how: by relentlessly looking forward.
101
Better minimize expectations to avoid being disappointed, then. Detroit became a mess because the auto industry out-sourced (read: couldn't keep paying union-level wages, and the CEO, and still be competitive in the world), along with corrupt local governance. It was saved because Obama had the temerity to bail them out against great opposition. Yes, college students and retiring seniors expect and deserve a great, innovative and inclusive society; Trump isn't the one who's gonna bring you there.
For the last 3 months all the leading newspapers of the United States have articles dedicated to Donald Trump and how Trump. if elected as the US president, would prove a complete disaster. On reading these articles and also speeches given by his detractors, it is not difficult to surmise that eh lacks economic, political and social acumen. His views on immigrants is despicable. Perhaps Trump has overlooked the fact that, his forebears were also immigrants!
In such a scenario the best possible course of action for the the Republican party to nominate a more competent person in his place, if their party constitution allows such an eventuality. Moreover, it is for the first time in the history of presidential elections, the US voters are faced with Hobson's choice. They will, of course, end up electing a leader who is considered a lesser evil among the two candidates!
In such a scenario the best possible course of action for the the Republican party to nominate a more competent person in his place, if their party constitution allows such an eventuality. Moreover, it is for the first time in the history of presidential elections, the US voters are faced with Hobson's choice. They will, of course, end up electing a leader who is considered a lesser evil among the two candidates!
This is what always puzzles me:
Why would the supporters of Donald Trump, many of them white men who did not attend college and are reportedly struggling in today's economy, fervently support a candidate who sits in golden chairs and proposes to cut taxes on the rich 1%, and on corporations? They support him even though the money garnered from more substantial taxes on the rich would strengthen the government programs that might actually help their families. Do they really enjoy crowding together at the far end of the "trickle-down economics" trough? Aren't they thirsty? It makes no sense.
Makes no sense until we remember that the GOP has attacked the national government for years, lauded American self-reliance, and convinced many of its supporters that their taxes are all being wasted by condescending liberal blowhards who want to confiscate their guns, invade their churches, and eviscerate the military, or being siphoned off to "welfare moms" in the dreaded "inner city."
OK. That's a typical liberal question, a predictable call and response. But I wonder whether there aren't many other Americans who distrust the government and do not like paying taxes, who would support Trump's policies. Wondering about small business owners. I once tried to conduct a small business, and it was A LOT OF WORK for little profit (small business development: not my strength). Do these tireless men and women, of all races, also support Trump and his slash-tax policies?
Why would the supporters of Donald Trump, many of them white men who did not attend college and are reportedly struggling in today's economy, fervently support a candidate who sits in golden chairs and proposes to cut taxes on the rich 1%, and on corporations? They support him even though the money garnered from more substantial taxes on the rich would strengthen the government programs that might actually help their families. Do they really enjoy crowding together at the far end of the "trickle-down economics" trough? Aren't they thirsty? It makes no sense.
Makes no sense until we remember that the GOP has attacked the national government for years, lauded American self-reliance, and convinced many of its supporters that their taxes are all being wasted by condescending liberal blowhards who want to confiscate their guns, invade their churches, and eviscerate the military, or being siphoned off to "welfare moms" in the dreaded "inner city."
OK. That's a typical liberal question, a predictable call and response. But I wonder whether there aren't many other Americans who distrust the government and do not like paying taxes, who would support Trump's policies. Wondering about small business owners. I once tried to conduct a small business, and it was A LOT OF WORK for little profit (small business development: not my strength). Do these tireless men and women, of all races, also support Trump and his slash-tax policies?
2
Which is the greater catastrophe: the total ignorance of fact and consequence displayed in Drumpf's retread of old supply-side standby economics that provide absolutely no benefits to the middle class and "workers" he pretends to care about, or the unwillingness or inability of his base to either question understand or challenge the transparent falsehoods of his promises?
One wonders how really stupid Trumpf is - or simply how little he really cares about those he pretends to promise to protect. The tragedy is that they simply believe whatever nonsense he spews assuming that because he says it makes it true. Woe to all of us if he prevails.
One wonders how really stupid Trumpf is - or simply how little he really cares about those he pretends to promise to protect. The tragedy is that they simply believe whatever nonsense he spews assuming that because he says it makes it true. Woe to all of us if he prevails.
TRUMP Looks like the cowboy riding the atom bomb down to blow up the Russians in Dr. Stranglelove in the illustration that heads up this article. Donald's favoring of the 1% over the 99% is reflexive, impulsive and devoid of logic, as are most of his remarks. In fact, I'd say that if he is a member of the 1%, that category would be among colossal liars as well as the category referring to his personal worth. We'll never know if the latter is the case because he has refused to release his income tax statements, that would presumably disclose his personal financial worth. Insofar as his personal ethical and moral worth, the fact that 50 leading GOP members and over 35 top military brass at the democratic convention have come out either against the GOP and Trump and/or in favor of Hillary. Trump says that he's got great talent and intuition, none of which he seems to have dedicated to acquiring the skills that would improve his effectiveness, accuracy and truthfulness. Though the Gawker lists 13 of his top business failures, I have not found a complete list. Trump is set to be in court over fraud charges related to Trump "University." So were he elected, which is unthinkable, he could possibly be found guilty of the fraud charges, perhaps even face time in prison, and be schedule to be seated as the President of the US. How do you like him now, Vladimir Putin? Brilliant, right? Trump's a danger to national security and international peace. He's an awful businessman.
1
More of the same "voodoo" economics that got us into the debt mess we're in. When Bill Clinton left office we not only had a surplus, but were paying down debt rapidly. In comes Bush, "Weapons of Mass Deception" and so much more. The economy tanked and the rest is history.
What we need are regulations for corporations regarding moving headquarters off shore and requiring repatriation of profits. We also need to raise fuel taxes for fund infrastructure and cut wasteful military spending (i.e. weapons, ships and planes to military neither needs nor wants).
The GOP plays a good game on red ink, but they never say they are the source of it. Enough. Oliver Wendell Holmes said that taxes are the price we pay for a civilized society. I don't see a lot of "civilized" these days.
What we need are regulations for corporations regarding moving headquarters off shore and requiring repatriation of profits. We also need to raise fuel taxes for fund infrastructure and cut wasteful military spending (i.e. weapons, ships and planes to military neither needs nor wants).
The GOP plays a good game on red ink, but they never say they are the source of it. Enough. Oliver Wendell Holmes said that taxes are the price we pay for a civilized society. I don't see a lot of "civilized" these days.
1
It wasn't so much what was contained in the speech as how poorly it was delivered. When confined to a script of stats and absent his typically profane loose cannon misfires so often a part of a Trump speech, one can see that Trump when speaking in monotones from teleprompters, reminded me of those reading-challenged children in grammar school who were badly in need of remedial reading classes.
Trump is 70 years old but his reading ability would put him in one of those remedial classes. If he is let loose and allowed to speak off-the-cuff he may entertain his following, low information ignorant bigots, who find his insults a hoot, but he winds up insulting and isolating but yet another group of the electorate. When Trump is tied down to any form of discipline his true colors, that of an ignoramus, come to the fore. The man is simply a simpleton, a semi-literate incompetent whose claim to fame is being the host of a Reality TV show.
Reality in the Real World Trump is finding is much more complicated than running a TV show. His diehard followers will go with him into the bunker. They should start packing provisions to do so shortly.
DD
Manhattan
Trump is 70 years old but his reading ability would put him in one of those remedial classes. If he is let loose and allowed to speak off-the-cuff he may entertain his following, low information ignorant bigots, who find his insults a hoot, but he winds up insulting and isolating but yet another group of the electorate. When Trump is tied down to any form of discipline his true colors, that of an ignoramus, come to the fore. The man is simply a simpleton, a semi-literate incompetent whose claim to fame is being the host of a Reality TV show.
Reality in the Real World Trump is finding is much more complicated than running a TV show. His diehard followers will go with him into the bunker. They should start packing provisions to do so shortly.
DD
Manhattan
2
I can't believe it, but on one thing I agree entirely with Donald Trump, and disagree with Obama--a president I generally support: The TPP is a bad deal.
Of course, my reasons are different from Trump's. The TPP deal has been negotiated in almost complete secret, but hundreds of corporate lobbyists have been able to find out what's going on and have been given the right to advise the U.S. trade negotiators. Meanwhile, the rest of us don't even get to know who the negotiators are.
From what we do know, one of the worst aspects of the TPP is its drastic loosening of environmental restrictions. Put simply, the TPP will permit foreign corporations to sue the United States government if they think any of our environmental protection laws affect their profits. These lawsuits will be heard in tribunals by judges who mostly are corporate lawyers (!!) who, after serving for a term on the tribunals, will eventually go back to their corporation jobs. Hello, we all know how that works.
So here I am, agreeing with that hideous monster of a candidate Donald Trump whose very being repulses me, on one issue. I'm sure I'm not alone on this; standing against the TPP makes for strange bedfellows.
Of course, my reasons are different from Trump's. The TPP deal has been negotiated in almost complete secret, but hundreds of corporate lobbyists have been able to find out what's going on and have been given the right to advise the U.S. trade negotiators. Meanwhile, the rest of us don't even get to know who the negotiators are.
From what we do know, one of the worst aspects of the TPP is its drastic loosening of environmental restrictions. Put simply, the TPP will permit foreign corporations to sue the United States government if they think any of our environmental protection laws affect their profits. These lawsuits will be heard in tribunals by judges who mostly are corporate lawyers (!!) who, after serving for a term on the tribunals, will eventually go back to their corporation jobs. Hello, we all know how that works.
So here I am, agreeing with that hideous monster of a candidate Donald Trump whose very being repulses me, on one issue. I'm sure I'm not alone on this; standing against the TPP makes for strange bedfellows.
1
Paul Ryan and the Republican establishment are thrilled Donald can read.
Looking forward to coal fired steam locomotives and late 18th century steal production to vault the country into economic prosperity in the information technology age (which itself is a hoax).
Now if we can change the constitution so that women are unable to vote and we have and influx of Eastern and Southern European immigrants to work in sweat shops, mills and factories seven days a week, twelve hours a day we will have another pre WW I economic boom.
Our prayers have been answered!
Looking forward to coal fired steam locomotives and late 18th century steal production to vault the country into economic prosperity in the information technology age (which itself is a hoax).
Now if we can change the constitution so that women are unable to vote and we have and influx of Eastern and Southern European immigrants to work in sweat shops, mills and factories seven days a week, twelve hours a day we will have another pre WW I economic boom.
Our prayers have been answered!
1
Trump is trying to sell failed trickle down economics and seems to expect a different outcome. His scheme of reducing taxes is also a sham. For I remember that some big companies and corporations (the names of the companies escapes me right now} paid no to very little tax especially when compared to the middle class. By the way, how does he propose to fix and repair the infra structure when the government has no revenue coming in? Just asking. In our area there are a view bridges closed because of safety concerns. They have made some emergency repairs while on others they work intermittently. Detours take drivers miles around those bridges. As far as rolling back federal regulations, I am concerned about existing lead levels in drinking water pipes besides, opening up closed coal mines just increases health risks for those workers and never mind an increase in coal miners lung disease and heart disease which just increases healthcare cost. I am in the healthcare profession with an advanced degree and do not know much about economics but I certainly do not buy into Trump's economic game plan. It seems to me it does little for the middle class and even less for the working class, the poor and underpriviledged. Oh and one more thing about China for in the near future their "one child policy" will have caught up with them. They will not have enough young people to replace their retirees and fill their own positions in their workforce never mind taking on jobs from US companies
1
Businesses will incur significant costs in re-locating manufacturing from China or Mexico (or any other country for that matter to the USA. So, they need to be compensated to motivate them to do so. Reduction in the corporate tax rate is one of the ways to motivate them. However, in Trump's plan the corporate tax cut is across the board. In my view, the corporate tax rate reduction should be made conditional on relocating manufacturing to the US and creating more jobs for the Americans. A better incentive would be to allow 100% tax deduction for capital expenditures incurred on relocation and/or investment tax credits.
"businesses won’t invest unless demand for their products is growing" is one of the key statements of this editorial and the biggest failure supply side economics. Supply side economics produces little to no demand from the majority of Americans for goods and services. Instead, a massive tax cut for everyone making less than 100,000/year would boost the economy and incentivize top 1% to invest their money to expand production of goods and services. Here's why:
Just imagine a tax break that puts more than $500 billion in the pockets of the middle class. That money would be used to buy goods and services locally from mom & pop shops, retail chains, restaurants, etc. here in the USA. This increased demand for goods and services would trigger a growth in production and jobs to meet that demand. More jobs give more people more spending power and the economy grows. Additionally the 1%ers would likely invest their money here to expand production and add jobs to get a piece of the new found money in circulation thereby also benefiting from a middle class tax break.
Over 30 years of trickle down economic has produced exactly what it promised for the overwhelming majority of Americans--a trickle.
Large tax breaks for the middle class holds the promised of fueling unprecedented growth and prosperity for ALL Americans
Just imagine a tax break that puts more than $500 billion in the pockets of the middle class. That money would be used to buy goods and services locally from mom & pop shops, retail chains, restaurants, etc. here in the USA. This increased demand for goods and services would trigger a growth in production and jobs to meet that demand. More jobs give more people more spending power and the economy grows. Additionally the 1%ers would likely invest their money here to expand production and add jobs to get a piece of the new found money in circulation thereby also benefiting from a middle class tax break.
Over 30 years of trickle down economic has produced exactly what it promised for the overwhelming majority of Americans--a trickle.
Large tax breaks for the middle class holds the promised of fueling unprecedented growth and prosperity for ALL Americans
2
It appears that the only item left out of Trump's version of Paul Ayn Rand Ryan's wish list was that the sun will eternally shine down upon us all in the U.S. of A, once he is King. (oops - POTUS) As is typical for the GOTP, of course, despite promising huge investments in our infrastructure, he failed to mention a not-so-minor detail, that being the fact that once he had blown up the deficit by $11 trillion, there is no way to pay for those infrastructure improvements, which are supposed to be funded by tax revenues. That is the responsibility ostensibly shared by all of us, for the privilege of living in a nation such as ours, although one entire party would have us believe otherwise. The fiction about our "sky high" corporate tax rates is just that, since NONE of them pays anything close to the published rates, thanks to their purchasing of Congress, while simultaneously skewering the American workers. The "death tax" fiction is peddled under the umbrella of "saving family farms," which is another absurdity used as cover for allowing plutocrats and their heirs to evade any taxation on most of their unearned wealth. Trump proves, as if we needed further evidence, that he knows nothing about the nation's economy and budget process, and even less about wise stewardship, given his abysmally incompetent, mendacious track record. Let's cut to the bottom line: the nation does far better under Democratic stewardship - it is that simple.
4
The Editorial Board recognizes that we have a demand problem, not a supply problem and that businesses won't invest until they see more demand. Below are two ways to solve that problem.
Exempt the first $50,000 from income taxes. This would put more money into the average persons hands who are more likely to spend. It would help to reduce inequality and be an opportunity magnet pulling people back into the workforce as work would pay better.
Balance trade. Imports = exports. There are different ways to do this. Eliminating the $600-800 billion annual trade deficit will return that amount of demand back to the US domestic economy. It would be like having a $600-800 billion stimulus each year.
When demand returns, then businesses increase their investing creating a virtuous cycle of even more demand.
Exempt the first $50,000 from income taxes. This would put more money into the average persons hands who are more likely to spend. It would help to reduce inequality and be an opportunity magnet pulling people back into the workforce as work would pay better.
Balance trade. Imports = exports. There are different ways to do this. Eliminating the $600-800 billion annual trade deficit will return that amount of demand back to the US domestic economy. It would be like having a $600-800 billion stimulus each year.
When demand returns, then businesses increase their investing creating a virtuous cycle of even more demand.
Here we go again with Mr. Trump. Republican economic policy is built on a list of discredited ideas. It has a record of failure. At the end of the last GOP presidency we had the largest crash since 1929.
During Bush’s first term, 400 of the nation’s leading economists, including 10 Nobel laureates, signed and published a full page letter in the New York Times denouncing his economic policies.
During the 1990s Clinton proposed needed regulation, and requested SEC funding. His SEC Chair repeatedly warned that their proposals and funding were blocked by the GOP controlled Congress.
Due to the prosperity in the 1990s, Clinton agreed to some deregulation, but the agreement was that there would still be adequate regulation. He could not know that Bush/Cheney would operate an orgy of deregulation. An example of Bush deregulation was that he blocked, by a claim of federal preemption, attempts in some states to rein in the subprime excess.
After 2000, Clinton’s SEC Chair continued to object that Bush was dropping the ball on the regulation and enforcement that Clinton had agreed to. Given this history, we see that it was GOP policy that led to the excess of risk and the crash in ’08.
Respected economists and investment advisors also warned about the risks, “weapons of financial mass destruction,” and the subprime bubble they allowed. Thus the ’08 crash was predicted, just not its exact date. Trump learned nothing and continues to advocated discredited policies.
During Bush’s first term, 400 of the nation’s leading economists, including 10 Nobel laureates, signed and published a full page letter in the New York Times denouncing his economic policies.
During the 1990s Clinton proposed needed regulation, and requested SEC funding. His SEC Chair repeatedly warned that their proposals and funding were blocked by the GOP controlled Congress.
Due to the prosperity in the 1990s, Clinton agreed to some deregulation, but the agreement was that there would still be adequate regulation. He could not know that Bush/Cheney would operate an orgy of deregulation. An example of Bush deregulation was that he blocked, by a claim of federal preemption, attempts in some states to rein in the subprime excess.
After 2000, Clinton’s SEC Chair continued to object that Bush was dropping the ball on the regulation and enforcement that Clinton had agreed to. Given this history, we see that it was GOP policy that led to the excess of risk and the crash in ’08.
Respected economists and investment advisors also warned about the risks, “weapons of financial mass destruction,” and the subprime bubble they allowed. Thus the ’08 crash was predicted, just not its exact date. Trump learned nothing and continues to advocated discredited policies.
3
If only people had an interest in American History, they would see that this is the old "the Business of America is Business" mantra dating back to the 1920s and Calvin Coolidge. After the Crash of 1929 the resulting Great Depression came from a belief in Supply Side Economics and Rugged Individualism. These ideas protected the wealthiest and hurt everyone else. The New Deal helped save this country and of course WW2 ended the Depression with the need for massive labor. Corporate tax rates were in the stratosphere when Eisenhower was president and everyone did just fine. The economy has gone through cycles, good years, not so good years. Ronald Reagan began the middle class decline with bringing back failed Supply Side Economics (Reaganomics if you will) George H.W Bush during the primaries in 1980 initially called it Voodoo economics and the results of those policies cost Bush I a second term in 1992. George W Bush destroyed our first surplus in decades with is tax cuts in 2001 and cutting more regulations. The rich have continually gotten richer. It is never enough. Look at Trumps advisors. They are his donors and all associated with Wall Street and yet he decries Wall Street.. Trumps followers hear his words but they should look to the history. This is the same old recipe for economic disaster for the little guy.
2
On the trade issue, Trump's protectionist proposal will certainly make America Great Again. That is, circa the 1930s. In fact, his proposal has failed again and again in Brazil. It is called import substitution.
Economic policy decisions create winners and losers. The winners in Trump's blueprint program will be hundred of thousands of (expensive) jobs created by trade barriers.
The losers will be economic efficiency and millions of consumers paying for high priced products or services.
Besides, Donald's protectionist trade approach will make losers US multinational corporations. The main engine of wealth creation and prosperity since WWII.
US corporations main competitive advantage i.e., allocating resources efficiently in the global production chain will be lost. Beijing welcome such a gift delivered from America.
In sum, there are no magical solutions to maintain the current global integration model while raising wages to 1960s levels.
Economic policy decisions create winners and losers. The winners in Trump's blueprint program will be hundred of thousands of (expensive) jobs created by trade barriers.
The losers will be economic efficiency and millions of consumers paying for high priced products or services.
Besides, Donald's protectionist trade approach will make losers US multinational corporations. The main engine of wealth creation and prosperity since WWII.
US corporations main competitive advantage i.e., allocating resources efficiently in the global production chain will be lost. Beijing welcome such a gift delivered from America.
In sum, there are no magical solutions to maintain the current global integration model while raising wages to 1960s levels.
32
Donald Trump's is a businessman once again giving us the business. And Trump's business is the mass media entertainment selling of Trump. Trump is a combination of a Master of Ceremonies and Ring Master who had the wisdom, merit and qualifications to be born a "prince" to a multimillionaire father.
Mr.Trump has resurrected the economic game plan of Republican Saint Ronald Wilson Reagan who promised that America can cut taxes, increase military spending and preserve government entitlement programs because neither deficits nor debt matter and this is America and we are Americans. The socioeconomic equivalent of going to Heaven without the inconvenience of either dying or living a morally accountable life. Trump lacks Ronald Reagan's acting, political and rhetorical talents or experience.
American tax policy provides deductions, credits and lower tax rates. But only for certain industries, transactions, sources of income, business entity structures, contracts and securities favored by special interests lobbyists and their compliant legislative and executive puppets. Thus, the nominal corporate tax rate is not the real effective corporate tax rate. Nor do plutocrat oligarchs pay their nominal tax rate. Moreover, America is not a business. America is a divided limited power democratic republic nation state.
Mr.Trump has resurrected the economic game plan of Republican Saint Ronald Wilson Reagan who promised that America can cut taxes, increase military spending and preserve government entitlement programs because neither deficits nor debt matter and this is America and we are Americans. The socioeconomic equivalent of going to Heaven without the inconvenience of either dying or living a morally accountable life. Trump lacks Ronald Reagan's acting, political and rhetorical talents or experience.
American tax policy provides deductions, credits and lower tax rates. But only for certain industries, transactions, sources of income, business entity structures, contracts and securities favored by special interests lobbyists and their compliant legislative and executive puppets. Thus, the nominal corporate tax rate is not the real effective corporate tax rate. Nor do plutocrat oligarchs pay their nominal tax rate. Moreover, America is not a business. America is a divided limited power democratic republic nation state.
43
I am a small business, a manufacturer in a high tax state with high utility costs. Since 1997 we have invested over $3 million in plant and equipment, none in the past 10 years.
Our Company was established in 1876, incorporated in 1919. In many ways the challenges we face today, are a much greater threat to survival than at any time in those 140 years.
I read Mrs. Clintons' economic plan, especially with regard to manufacturers. I read it several times. I even went to her website to read the fine print. I didn't see anything specific that would help our company, in fact there is nothing there. It would appeal to all those sympathetic voters who are not manufacturers, and that is what it is designed to do. In fact I question her knowledge of the tax code. Yes, it is very complex, the average person really has no idea.
On the other hand Mr. Trumps' plan to cap sub-s corps tax rate at 15% is something we can work with. Even if it is only temporary. Throw in some accelerated depreciation, and we will invest in more equipment. It is not a vague promise, and it will not result in bigger deficits if it produces a 4% GNP.
That can't be hard, GW fell out of bed and produced a 5.5 to 6% GNP, not that long ago.
My employees don't give a damn about climate change. And it has nothing to do with keeping my business going forward.
However, the time I spend, and the fees we pay to fill out more and more useless Government forms does keep me from my clients.
Our Company was established in 1876, incorporated in 1919. In many ways the challenges we face today, are a much greater threat to survival than at any time in those 140 years.
I read Mrs. Clintons' economic plan, especially with regard to manufacturers. I read it several times. I even went to her website to read the fine print. I didn't see anything specific that would help our company, in fact there is nothing there. It would appeal to all those sympathetic voters who are not manufacturers, and that is what it is designed to do. In fact I question her knowledge of the tax code. Yes, it is very complex, the average person really has no idea.
On the other hand Mr. Trumps' plan to cap sub-s corps tax rate at 15% is something we can work with. Even if it is only temporary. Throw in some accelerated depreciation, and we will invest in more equipment. It is not a vague promise, and it will not result in bigger deficits if it produces a 4% GNP.
That can't be hard, GW fell out of bed and produced a 5.5 to 6% GNP, not that long ago.
My employees don't give a damn about climate change. And it has nothing to do with keeping my business going forward.
However, the time I spend, and the fees we pay to fill out more and more useless Government forms does keep me from my clients.
Trump economic speech, run through Trump Interpretation Device:
-This is a speech where I am struggling to portray myself as serious, following a series of slurs, gaffes, improprieties, indiscretions, solecisms, indecorums, accusations, innuendos, put-downs, smears, affronts, assaults, animadversions, aspersions, deceptions, disinformation, distortions, evasions, full-out fabrications, falsehoods, fictions, and misrepresentations unequaled in modern American campaign history;
- I am reading this in the oratorical style of an 8th grade book report, interspersed with "totally"s and "believe it"s for authenticity;
-Every word of what I am saying--every word, believe me--is subject to immediate, moment-to-moment change, as demonstrated by my 30 year history of:
-Breaking contracts with workers, craftsmen, construction companies, & ex-wives;
-Denying statements, commitments, and unbreakable oaths that I have made only moments before;
-Stating that "reasonable deceit" is a fundamental principle of dealing with others;
-Leaving a trail of broken promises to laborers, casinos, condo buyers, government officials, and the U.S. public long enough to exceed the Great Wall of China--which I promise to replace with the largest, most impressive casino ever, and which will fail.
-None of this matters, as my ultimate goal, a nihilistic self-destruction similar to Charles Foster Kane's grasping despair over his Rosebud, is not known even to myself.
Thank you.
(Bows).
-This is a speech where I am struggling to portray myself as serious, following a series of slurs, gaffes, improprieties, indiscretions, solecisms, indecorums, accusations, innuendos, put-downs, smears, affronts, assaults, animadversions, aspersions, deceptions, disinformation, distortions, evasions, full-out fabrications, falsehoods, fictions, and misrepresentations unequaled in modern American campaign history;
- I am reading this in the oratorical style of an 8th grade book report, interspersed with "totally"s and "believe it"s for authenticity;
-Every word of what I am saying--every word, believe me--is subject to immediate, moment-to-moment change, as demonstrated by my 30 year history of:
-Breaking contracts with workers, craftsmen, construction companies, & ex-wives;
-Denying statements, commitments, and unbreakable oaths that I have made only moments before;
-Stating that "reasonable deceit" is a fundamental principle of dealing with others;
-Leaving a trail of broken promises to laborers, casinos, condo buyers, government officials, and the U.S. public long enough to exceed the Great Wall of China--which I promise to replace with the largest, most impressive casino ever, and which will fail.
-None of this matters, as my ultimate goal, a nihilistic self-destruction similar to Charles Foster Kane's grasping despair over his Rosebud, is not known even to myself.
Thank you.
(Bows).
5
(((clapping))))
You forgot "lies".
You forgot "lies".
1
I wish there were some way to disabuse voters of the notion that being a successful business leader somehow makes such a leader a wise economist. When developing an economic strategy, business acumen alone simply isn't going to cut it. Being able to use the analytic skills and creative thinking required to build a successful business, however, to evaluate and incorporate the perspectives and opinions of those who -are- seasoned economists is certainly plausible. Unfortunately, Trump has shown no ability or desire to do that and has flat out stated that only he can solve the problems.
A social science perspective is woven into economic planning. The social structures which drive and respond to economic forces are critically important in developing a national economic doctrine, the effects of which will ripple throughout the globe. Trump has proven himself to be completely deaf in this area, leaving me to conclude that even if he did have the best team of advisers, his business experience brings nothing to the table.
Trump has shown no ability to collaborate with others, has given no hint that he possesses any intellectual curiosity, clearly lacks the ability to admit mistakes in light of new evidence, has a deficit of skill when it comes to abstract thinking, and has a gigantic ego which prevents him from even considering the notion that he doesn't know everything already. The notion that he could develop a cogent economic policy is nothing but fantasy.
A social science perspective is woven into economic planning. The social structures which drive and respond to economic forces are critically important in developing a national economic doctrine, the effects of which will ripple throughout the globe. Trump has proven himself to be completely deaf in this area, leaving me to conclude that even if he did have the best team of advisers, his business experience brings nothing to the table.
Trump has shown no ability to collaborate with others, has given no hint that he possesses any intellectual curiosity, clearly lacks the ability to admit mistakes in light of new evidence, has a deficit of skill when it comes to abstract thinking, and has a gigantic ego which prevents him from even considering the notion that he doesn't know everything already. The notion that he could develop a cogent economic policy is nothing but fantasy.
4
Obviously he isn't.
Besides his dismal business history (way back when, nobody would deal with him unless daddy signed on the dotted line), he needed 16 advisors.
Why didn't he just use his "very good brain"?
Besides his dismal business history (way back when, nobody would deal with him unless daddy signed on the dotted line), he needed 16 advisors.
Why didn't he just use his "very good brain"?
1
Two ways to stimulate the economy by the government exist: tax cuts or increase in spending. Their effectiveness depends on whether the FED accommodates each and by how much. Nevertheless, regardless of the FED, we know which will lead to higher levels of spending, and hence more income to manufactures, and decrease unemployment. Tax cuts have virtually no stimulative power. For every $ decrease (deficit increase by a $) spending typically increases by .29 if to the rich and .8 if too those below median income. On the other hand if government spending is increased by a $, Total spending raises by $1.29 and up, better on infrastructure than food stamps, although food stamps is still better than any tax cut. So fiscal stimulas is best if there is $ spend on hard hat jobs such as schools etc. As to decrease in capital gains, it is better to support education, as that is direct investment that increases the output potential far greater than manufacturing, especially in this worlds global economy.
Regulations are even less likely to have a determinate effect. The most highly regulated States have the highest grow. And they have healthier populations etc due to lower pollution.
Take away? Donald's Plan is recycled rich people plans to benefit the already rich. Hillary's plan has greater potential impact on current growth and long run potential.
Regulations are even less likely to have a determinate effect. The most highly regulated States have the highest grow. And they have healthier populations etc due to lower pollution.
Take away? Donald's Plan is recycled rich people plans to benefit the already rich. Hillary's plan has greater potential impact on current growth and long run potential.
2
The economy has become so warped by financialization, that the real economy of goods and services has been subordinated to the paper asset economy of derivatives manipulation since 2009.
No one has any idea how to fix this economic mess. The exclusive resort by the Government to monetary policy absolutely bereft of countercyclical fiscal stimulus, when it counted back in 2009, and regulations, which are too complex to actually regulate, have become just another part of the problem. Complexity has hidden the fact that the Central Banks have turned what were essentially the Free Market Economies of the West into Central Bank manged crap shoots, where anyone who can generate momentum wins, until they don't!
Excess QE Reserves have, along with cheap money, made depository lending by the money banks unprofitable, and as a consequence they have all mostly become Shadow Banks, which have divorced themselves altogether from the actual economy of real things, in which we all live. Except to gouge fees, and crush us with usurious credit card interest
Trump thinks that a repeat of a Reaganesque tax reform like that of 1986 is the way to go, but that reform in order to simplify the code actually increased taxes on everyone, recognized all interest not related to home loans for taxation, and was brutally destructive of capital formation, since it transformed Capital Gains into Ordinary Income. Hillary on the other hand, has no ideas other than to ridicule Trump for having no ideas
No one has any idea how to fix this economic mess. The exclusive resort by the Government to monetary policy absolutely bereft of countercyclical fiscal stimulus, when it counted back in 2009, and regulations, which are too complex to actually regulate, have become just another part of the problem. Complexity has hidden the fact that the Central Banks have turned what were essentially the Free Market Economies of the West into Central Bank manged crap shoots, where anyone who can generate momentum wins, until they don't!
Excess QE Reserves have, along with cheap money, made depository lending by the money banks unprofitable, and as a consequence they have all mostly become Shadow Banks, which have divorced themselves altogether from the actual economy of real things, in which we all live. Except to gouge fees, and crush us with usurious credit card interest
Trump thinks that a repeat of a Reaganesque tax reform like that of 1986 is the way to go, but that reform in order to simplify the code actually increased taxes on everyone, recognized all interest not related to home loans for taxation, and was brutally destructive of capital formation, since it transformed Capital Gains into Ordinary Income. Hillary on the other hand, has no ideas other than to ridicule Trump for having no ideas
1
Of value in Trump's proposed changes is the opportunity of the public, of academics, of media outlets to identify all of those who support these changes. By supporting Trump's plans, economists, pundits, and politicians will out themselves, will reveal the fact that they embrace fraud at the expense of American trustworthiness and American solvency.
Subordinating real economic evidence in favor of jingoistic promises spells disaster to everyone, rich and poor alike.
Like it or not, we all share the dollar as a measure of value. What will the dollar be worth in a trade war? or if our debt escalates when revenues fail to provide the means to sustain our economy? Eliminating the estate tax will benefit 0.02% of tax payers. Supply side actually costs jobs and increases national debt while simultaneously increasing the frequency of recessions.
Money is a store of value that depends on the underlying solvency of the Nation.
Look for the supporters of this snake oil economic proposal. Identify them. Tar them with the fraud that they are selling.
Subordinating real economic evidence in favor of jingoistic promises spells disaster to everyone, rich and poor alike.
Like it or not, we all share the dollar as a measure of value. What will the dollar be worth in a trade war? or if our debt escalates when revenues fail to provide the means to sustain our economy? Eliminating the estate tax will benefit 0.02% of tax payers. Supply side actually costs jobs and increases national debt while simultaneously increasing the frequency of recessions.
Money is a store of value that depends on the underlying solvency of the Nation.
Look for the supporters of this snake oil economic proposal. Identify them. Tar them with the fraud that they are selling.
2
Our basic economic problem is relatively simple and easy to understand. We don't have to resort to vague undefined ideas like secular stagnation or supply side v. demand side to understand it. It's just arithmetic. All you have to do is to follow the money. We just have to get people to understand this. It is hard because people think the finances of our gov are the same as their personal finances, and that is just wrong.
People simply do not have enough money to spend. Regulations have not prevented us from producing enough stuff, products and services. Now it certainly is true that inequality exacerbates this problem. Too much of the money that is in the private sector is held by the Rich who spend a smaller percentage and use the rest to speculate. We have to get more money to the people who need it and will spend it.
Where does money come from?
Well, it could come from abroad if we had a positive trade balance, but we do not and there is good reason to believe we will not in the future (see the Triffin Dilemma). In fact, the trade deficit is one of the reasons we do not have enough money because it has been strongly negative since the mid '90's.
The only other place that can supply money to the private sector is the federal gov. When it spends, money flows in; when it taxes money flows out. The difference, called the deficit, tells us how much money is flowing net into the economy.
But the deficit has been cut by 75% since 2009.
This is our root problem.
People simply do not have enough money to spend. Regulations have not prevented us from producing enough stuff, products and services. Now it certainly is true that inequality exacerbates this problem. Too much of the money that is in the private sector is held by the Rich who spend a smaller percentage and use the rest to speculate. We have to get more money to the people who need it and will spend it.
Where does money come from?
Well, it could come from abroad if we had a positive trade balance, but we do not and there is good reason to believe we will not in the future (see the Triffin Dilemma). In fact, the trade deficit is one of the reasons we do not have enough money because it has been strongly negative since the mid '90's.
The only other place that can supply money to the private sector is the federal gov. When it spends, money flows in; when it taxes money flows out. The difference, called the deficit, tells us how much money is flowing net into the economy.
But the deficit has been cut by 75% since 2009.
This is our root problem.
4
People do not have enough money to spend. That is one of the declarations that was made in the above. What can the government do? FDR saw a problem in the 30s with the farmers not getting anything for their crops. FDR actually did something about it. He advocated for an inflationary policy so farm commodity prices would rise. It worked.
Government can do something to put more money in people's pockets. It's not tax cuts, it's empowering the working class by being amenable to a higher minimum wage and also to encourage and recognize the good that collective bargaining can add to the workplace and the people who are in it.
Government can do something to put more money in people's pockets. It's not tax cuts, it's empowering the working class by being amenable to a higher minimum wage and also to encourage and recognize the good that collective bargaining can add to the workplace and the people who are in it.
49
Once again, Trump and his team display a frightening lack of knowledge on key issues.
Once again, a majority of his supportera won't bother to look at his proposals objectively.
Once again, the rest of us lose sleep.
Once again, a majority of his supportera won't bother to look at his proposals objectively.
Once again, the rest of us lose sleep.
3
It's astonishing (to anyone paying attention) that Trump and, apparently, all GOP supply-siders, are so oblivious to the disastrous effect this slash-and-burn approach has had on the economies of Kansas and Louisiana. The failures are too numerous to list, so I direct you to a New York Magazine article from March. The statistics are staggering and they blow to smithereens Trump's brilliant plans for the country's economy.
Every Democratic candidate should be informing the public of the fallacy behind tax cuts for the wealthy, 'cause lord knows the Republicans won't.
http://nymag.com/daily/intelligencer/2016/03/gop-must-answer-for-what-it...
Every Democratic candidate should be informing the public of the fallacy behind tax cuts for the wealthy, 'cause lord knows the Republicans won't.
http://nymag.com/daily/intelligencer/2016/03/gop-must-answer-for-what-it...
2
The Trump-mob would be quite surprised to see that the man they want to "be their voice", has little business acumen, at all. A study showed that if Trump put the original one million dollars, that his daddy gave little Donald, into an interest bearing account at the local bank, he'd be worth more today than what he has accomplished with his "skills." In truth, Trump could bankrupt a whorehouse next to a naval base.
3
Oh snap!
Why does your editorial remind me of a childhood nursery rhyme (allowing for lapses of memory?:
Ride a cock horse to Banbury Cross
To see a (rich) lady upon a white horse
With rings on her fingers and bells on her toes
She shall have music wherever she goes.
Perhaps, it's the childlessness of the current political ride--or the illustration overpowers the content.
Ride a cock horse to Banbury Cross
To see a (rich) lady upon a white horse
With rings on her fingers and bells on her toes
She shall have music wherever she goes.
Perhaps, it's the childlessness of the current political ride--or the illustration overpowers the content.
1
Democrats subscribe to Keynesian theory, which was badly compromised by its inability to account for stagflation. Republicans subscribe to supply side economics which has been badly compromised by its poor predictive effect. If we had a reliable economy theory, the economy wouldn't be as bad as it is.
One of the big omissions made by the GOP in promoting trickle down all these years is in not saying how C-level decisions are an integral part of the system. Trickle down can only work when those high-ups look at the profits and say "gee, we need to trickle this down to the workers." It almost never happens, and without it, there is no trickle down. It is so rare, in fact, that Jamie Dimon thought the idea was unprecedented and wrote an op-ed to that effect - the NYT agreed.
GOP members like the tax-cut part of trickle down, but they never heard about the let's-be-sure-this-trickles-down part. Magic asterisks to the rescue!
GOP members like the tax-cut part of trickle down, but they never heard about the let's-be-sure-this-trickles-down part. Magic asterisks to the rescue!
Given the direction that Trump & the GOP have been dragging us I'm surprised there's nothing in his plan about getting 99% of the kids out of school and back in the coal mines where they belong.
Don the Con is giving the Republican establishment what they want: huge tax cuts for the wealthy, deregulation for the crooks, and destruction of the environment for the fossil fuel industries. Most Republican politicians and pundits will fall in line behind him, even if they know the man is certifiably crazy.
3
The result of the Trickle Down Economy of Wall Street…
Over the last 35 years (with the exception of the late 1990s), hourly wages of the vast majority have lagged far behind economy-wide productivity. This failure of wages to grow and rising wage inequality is the primary explanation for the rise of family income stagnation and income inequality over the past generation (the last 35 years (. Additionally, progress in closing gender and racial wage gaps throughout this period has been either nonexistent (for racial gaps) or disappointingly slow (for gender gaps).
We have tried the GOP one percenter’s (the 1%) ways at least three (3) times. The "Trickle down economy" have been tried since 1980s at least three times already, during Reagan, Bush, and W Bush, all three (3) times its been failed, the last time it failed so miserably that you may still feel the impact. SEVEN years ago, the financial crisis sent our economy into a tailspin. Over five million people lost their homes. Nearly nine million lost their jobs. Nearly $13 trillion in household wealth was wiped out.
Republicans say they are for tax cuts, but they don’t tell you that they are only for the “tax cuts for the Rich”.
Over the last 35 years (with the exception of the late 1990s), hourly wages of the vast majority have lagged far behind economy-wide productivity. This failure of wages to grow and rising wage inequality is the primary explanation for the rise of family income stagnation and income inequality over the past generation (the last 35 years (. Additionally, progress in closing gender and racial wage gaps throughout this period has been either nonexistent (for racial gaps) or disappointingly slow (for gender gaps).
We have tried the GOP one percenter’s (the 1%) ways at least three (3) times. The "Trickle down economy" have been tried since 1980s at least three times already, during Reagan, Bush, and W Bush, all three (3) times its been failed, the last time it failed so miserably that you may still feel the impact. SEVEN years ago, the financial crisis sent our economy into a tailspin. Over five million people lost their homes. Nearly nine million lost their jobs. Nearly $13 trillion in household wealth was wiped out.
Republicans say they are for tax cuts, but they don’t tell you that they are only for the “tax cuts for the Rich”.
2
I think the fundamental questions is more simple than all this. Does anyone really believe that Trump will do whatever he says he will do? When a person only says what he thinks others want to hear, and changes his mind with every gust of wind, can he be relied to really do what he says?
Isn't that why a reset is needed for Trump? whenever he digs himself a big enough hole, his handlers want a reset. Is there no policy of Trump that is a policy that he can't change to get votes?
Isn't that why a reset is needed for Trump? whenever he digs himself a big enough hole, his handlers want a reset. Is there no policy of Trump that is a policy that he can't change to get votes?
4
Exactly.
It's not what he says.
It's that he never going to do ANYTHING he says.
Build a wall. Stop ISIS. Stop Muslims from coming into the country. Bring back jobs. Make America great again (whatever that's supposed to mean).
He was bored to tears during a 15 minute speech. What his followers need to worry about is who he will be surrounded himself with to conduct the presidency. He's already given us a yuuuuggeee clue!
So far its the rich fat cats of which they accuse Hillary aligning and enriching herself with.
They are just getting the same old, same old.
Why didn't they know that? Why can't they see that?
It's as plain as day!
Do we really want Pence praying and running the country?
Do we really want 16 rich guys running the country?
I didn't know this many stupid people lived here.
It's not what he says.
It's that he never going to do ANYTHING he says.
Build a wall. Stop ISIS. Stop Muslims from coming into the country. Bring back jobs. Make America great again (whatever that's supposed to mean).
He was bored to tears during a 15 minute speech. What his followers need to worry about is who he will be surrounded himself with to conduct the presidency. He's already given us a yuuuuggeee clue!
So far its the rich fat cats of which they accuse Hillary aligning and enriching herself with.
They are just getting the same old, same old.
Why didn't they know that? Why can't they see that?
It's as plain as day!
Do we really want Pence praying and running the country?
Do we really want 16 rich guys running the country?
I didn't know this many stupid people lived here.
I have to be repetitive. This is nothing but "supply side" dogma with an anti environmental chaser. Ok rubes, after reading this, if you vote for him you deserve what you get. Oops, forgot, this is the NYTimes not the Cracker Barrel Times.
4
As usual, the Editorial Board (EB) presents a sober review of Trump while everyone else is spitting epitaph of interesting ilk and content. A comment in the Washington Post remarked about a Clinton landslide that will follow a Mike Pence endorsement (of her). It is fair to say that the EB is working overtime and not missing much by way of Trump's shannagans and shortcomings. The Trump economic plan is just another crazy effort to keep the leaking damn from swamping his efforts entirely. However, now it is time for the New York Times to start selling papers in Missouri, as they might need to hear about Senstor Susan Collins and read her review of Trump.
1
Also part of his economic plan, Trump's child care deduction may sound good at first blush, but upon a few minutes' reflection is next to meaningless. It is a deduction, not a credit, so it will help only those with significant income to begin with. Moreover, the working poor don't pay enough in taxes to take advantage of it. By contrast, Ms. Clinton's platform calling for universal early childhood education and capping child care costs at 10% of income are game changers and are consistent with her long-time advocacy for families and children.
Trump's plan is nothing more than a retread of trickle down, which enriches the already well off and has hollowed out the middle class.
Trump's plan is nothing more than a retread of trickle down, which enriches the already well off and has hollowed out the middle class.
We've always had a childcare deduction. People have been able to take that for the last 30 years.
Why didn't 17 super rich men know that?
Why didn't 17 super rich men know that?
1
I'd love to know Trump's effective tax rate.
2
First, consider the elite venue for Mr. Trump's economic program speech - the Detroit Economics Club. It is doubtful that there were few, if any, auto workers or any of his other working people supporters present.
Second, consider the substance - more huge tax cuts for the wealthy and hardly noticeable tax reductions for the middle class. This is discredited policy right out of the play books of Ronald Reagan, George W. Bush and Speaker Paul Ryan.
I keep asking myself how far back we have to look to find a national Republican leader with an original idea - Richard Nixon, Robert Taft or Theodore Roosevelt!
Second, consider the substance - more huge tax cuts for the wealthy and hardly noticeable tax reductions for the middle class. This is discredited policy right out of the play books of Ronald Reagan, George W. Bush and Speaker Paul Ryan.
I keep asking myself how far back we have to look to find a national Republican leader with an original idea - Richard Nixon, Robert Taft or Theodore Roosevelt!
3
So what's the problem with eliminating the estate tax? Why is the money better off in the hands of the government than, say, in the hands of a worthy charity?
And, demand-side economics is nonsense. From what I understand, demand-side economics says that it is impossible to have high inflation and high unemployment at the same time, but we certainly have had that -stagflation- in the past. That's my understanding, but I suppose I could be wrong.
And, demand-side economics is nonsense. From what I understand, demand-side economics says that it is impossible to have high inflation and high unemployment at the same time, but we certainly have had that -stagflation- in the past. That's my understanding, but I suppose I could be wrong.
1
For over a year, I have heard Trump preach to his followers that he is looking out for their interests.
Now that Trump has finally revealed the details of his economic plan, it is obvious that Eliminating the Estate Tax is another standard Bait and Switch Republican tactic. Elimination of the Estate Tax helps the upper part of the Top 1%, especially Mr. Trump, without any impact on helping the average middle class taxpayer.
As Trump gradually reveals more details of his economic plans, Trump demonstrates he is just another politician bowing to the demands of special interests, the rich and powerful. More tax cuts for the rich and Trickle Down Economics hasn’t worked before and certainly won’t work now to boost the economy or bring jobs back to the US.
If Trump supporters can’t see this deception now, they will be devastated by a “President” Trump later.
Now that Trump has finally revealed the details of his economic plan, it is obvious that Eliminating the Estate Tax is another standard Bait and Switch Republican tactic. Elimination of the Estate Tax helps the upper part of the Top 1%, especially Mr. Trump, without any impact on helping the average middle class taxpayer.
As Trump gradually reveals more details of his economic plans, Trump demonstrates he is just another politician bowing to the demands of special interests, the rich and powerful. More tax cuts for the rich and Trickle Down Economics hasn’t worked before and certainly won’t work now to boost the economy or bring jobs back to the US.
If Trump supporters can’t see this deception now, they will be devastated by a “President” Trump later.
1
Not enough vile adjectives to describe this man. On top of that he has no insights into effective economic policy, and truth be told is not bright. His rants are that of a simpleton. How anybody could look at him and see a leader is remarkable.
1
Propaganda NYT. Most people are objective and can see through this article for what it is. Unfortunately, some cannot which makes me sad.
Please, enlighten us.
I watched Mr Trump's Detroit Speech and wondered why anyone would consider it as little than more than of the nonsensical gibberish as usual.
I noticed that the speech delivered was onger than the prepared text issued to media. Am I wrong? I don't think so, but I wouldn't waste my time of the illiterate orange-painted-tan
The laugh was his grand plan for infrastructure repair, improvement and extending. He doesn't seem to realize that his party has scrapped one infrastructure project after another.
Work had already begun on early elements of new TransHudson tunnels - fully funded - but Christie killed it and stole the money for his own prioritized road projects. The much vaunted Pulaski Skyway chewed up hundreds of millions. Then required hundreds of millions more. Highways that didn't meet the standards for using Port Authority funds were ignored.
In the meantime. There are great needs as much of our airport facilities resemble a third world nation.
Republicans demand profits from Amtrak that will cover both its construction and repair needs. It is critical for the Northeast Corridor.
That terrible accident in Philadelphis - which followed another during the 1940s. A plan to correct the defects of that particular curve dating to the 1850s was to have been built in 1900.
George W. Bush's ground transportation studied the plethora of defects, real needs and a means to pay for it - in 2006.
We are supposed to believe Trump. We can't.
I noticed that the speech delivered was onger than the prepared text issued to media. Am I wrong? I don't think so, but I wouldn't waste my time of the illiterate orange-painted-tan
The laugh was his grand plan for infrastructure repair, improvement and extending. He doesn't seem to realize that his party has scrapped one infrastructure project after another.
Work had already begun on early elements of new TransHudson tunnels - fully funded - but Christie killed it and stole the money for his own prioritized road projects. The much vaunted Pulaski Skyway chewed up hundreds of millions. Then required hundreds of millions more. Highways that didn't meet the standards for using Port Authority funds were ignored.
In the meantime. There are great needs as much of our airport facilities resemble a third world nation.
Republicans demand profits from Amtrak that will cover both its construction and repair needs. It is critical for the Northeast Corridor.
That terrible accident in Philadelphis - which followed another during the 1940s. A plan to correct the defects of that particular curve dating to the 1850s was to have been built in 1900.
George W. Bush's ground transportation studied the plethora of defects, real needs and a means to pay for it - in 2006.
We are supposed to believe Trump. We can't.
2
Elsewhere in the Times, readers saw this headline: "50 G.O.P. Officials Warn Donald Trump Would Put Nation’s Security ‘at Risk’."
Wouldn't it be nice if 50 Fortune 500 Company CEO's came out with a joint statement reading "Donald Trump's Economic Proposals Would Put Nation's Economy At Risk"?
Wouldn't it be nice if 50 Fortune 500 Company CEO's came out with a joint statement reading "Donald Trump's Economic Proposals Would Put Nation's Economy At Risk"?
4
We are currently undergoing a stealth change to a centrally planned economy. The hallmark of that type of system is the loss of liberty by a population as incentive is gradually removed. The assumption by proponents of such a system hold that the free market does not work. Under the guise of promoting equality, environmentalism and anti-consumerism, the government assumes decision making on every aspect of the economy. And by extension, our lives, Including meeting all social and national objectives. Conversely, a free market system allows individuals and corporations to make personal and business choices with a view towards self-management. Any steps which Trump might offer away from the current path which FA Hayek called "the road to serfdom" are fine with me. As for starting a trade war, somebody please let the NY Times know that we are already in one. Which so far has underpinned the foreign exchange value of the dollar to the point where it negatively is impacting US output. This in turn, crimps growth. And supports a bifurcated inflationary environment where goods are cheap and services prices escalate apace. In short, our current monetary and fiscal policies are toxic which is why GDP has been an 8-year disappointment.
1
Extreme wealth concentration combined with zero percent interest rates is feudalism. You might call it central planning at the county level.
Talk about the ultimate in narcissism and selfishness. Trump's proposal for elimination of the Estate Tax is a "Huge" benefit for himself and no benefit to over 99.999% of the American taxpayers.
As the Times Fact Checker points out "It estimated last year that a full repeal would have benefited roughly 5,400 families in 2016. The benefit to those families, however, is considerable: an average savings of roughly $3 million."
How does this benefit the American economy or help the Middle Class Taxpayer?
Trump supporters are fools to vote for him. Trump says he represents the middle class. However, when the details of each of his plans are revealed, time and time again, Trump demonstrates that he is looking out for his own interests first over everyone else.
Mr. Khizr Khan was right “Trump has sacrificed nothing”. Now Trump brazenly wants to get more for himself over the Backs of the American Taxpayers.
As the Times Fact Checker points out "It estimated last year that a full repeal would have benefited roughly 5,400 families in 2016. The benefit to those families, however, is considerable: an average savings of roughly $3 million."
How does this benefit the American economy or help the Middle Class Taxpayer?
Trump supporters are fools to vote for him. Trump says he represents the middle class. However, when the details of each of his plans are revealed, time and time again, Trump demonstrates that he is looking out for his own interests first over everyone else.
Mr. Khizr Khan was right “Trump has sacrificed nothing”. Now Trump brazenly wants to get more for himself over the Backs of the American Taxpayers.
2
Regarding Mr. Trump's economic talk in Detroit, I recall that at the depth of the 2008 economic collapse, Republicans were against bailing out the auto industry. Their message to Detroit was "drop dead, you deserve to fail". It was the Obama administration that made the effort to save the American auto industry, and with that, thousands of good American jobs. That impressed me.
3
About 5 minutes after Ttimp announced his economic plan, it was declared a loser. Next on the to do lost is to read what he said.
4
Also, tariffs on Chinese goods will end Walmart as we know it.
2
Walmart, years ago, began a buy American goods plan, and now 40% of their goods are American made, up from 6% in 1995. Did you know that half of all retail purchases in America are made at dollar stores, not Walmart? And even the dollar stores are working hard to offer American goods, and are increasingly doing so (although not at the rate of Walmart).
I wonder how much of the 35% top tax rate Donald Trump's businesses pay? Oh, that's right -- they don't pay any taxes because he makes money by incurring debt, investing other people's money, then walking away with his profit while the businesses go bankrupt.
1
I guess Trump would stick to his usual game plan: borrow to finance the deficit then default on the obligations. It may work in New York but I doubt it would get the country very far.
2
Mr. Trump's giveaway to himself, his relatives, businesses, and billionaire friends is awesome in its sheer audacity. No estate tax, cut corporate taxes, and other huuuuge tax cuts for the 1%. And that is not even mentioning his personal advantage from cutting regulations and environmental regulations. No other candidate perhaps in American history has seen the White House as such as personal prosperity machine. So who cares if the American economy tanks again, the middle class and working class people suffer, and the planet itself pays the cost.
Theodore Roosevelt, GOP reformer, once said, "The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life."
Theodore Roosevelt, GOP reformer, once said, "The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life."
1
The Times needs to cover the _process_ by which the Trump campaign is now scrambling to produce "policies" so late in the game, in which the candidate has repeatedly demonstrated his ignorance of the issues, and disinterest in the policy game anyway. Constrained by Party "leaders" to seem serious by making policy speeches, what probably happens is that advisors run conventional GOP positions by the candidate, who then chooses and vetoes as he pleases, and is forced to accept what is necessary for donor or Party support. In short, we cannot expect any creative thinking or new ideas to be happening; what we'll hear is more of the same-old, because at this point there is no alternative rescue operation possible.
Trump's "plan" seems like "Brownback Lite," and we've all seen what a disaster that's been for Kansas.
1
...and the NYT doesn't even mention that proposals for investing in the infrastructure were placed long ago on the table by Obama, and that it was the Republican House which voted them down. Paul Krugman advised in these pages that this is the time to invest, even with borrowed money at the lowest interest rates. Think: better roads, bridges, tunnels, runways, waterways, water treatment, etc. People working, producing GOODS that last more than a lifetime. The people create them, leave them for their children and grandchildren and even debt free. Lincoln did it with the transcontinental railroads -- during the Civil War, even -- and FDR got it done in the New Deal, which enable the US to help defeat Nazism. What great presidents there were, and perhaps even great legislators.
3
Tax cuts that benefit the wealthy, where have I heard that before? Must have been the economic chatlatans disguised as supply siders reborn. Trump is the familiar demagogue, the political chameleon who initially championed himself as an outsider but has changed his colors because he needs donor money to run his campaign. Trump wants to deregulate industry, after we barely survived a global economic depression brought about from no regulation. This is Trumps version of sucking up to the capitalist class and their greed at the expense of public health. By advocating trade agreements he overlooks the dangers of global trade wars and the job losses that would follow not to mention the higher prices for goods and services. His repeal of the estate tax is total ignorance, the last thing we need is a multi-generational gentry in this country to cement inequality over generations. Finally, ignoring perhaps the greatest threat to humanity, climate change, speaks volumes about the ignorance of this man. One is both astonished and alarmed at the nonsense and ignorance displayed by the GOP and its supporters, and wonder what could possibly follow in the next election season.
Donny T can ride this trickle down scam all the way to the White House ... the GOP has done it before. For a cheeky peek behind closed doors at a Halloween there under Donny T, the ribald romp AW, DONNY! is spot-on unforgettable political satire. HRC superPac Priorities USA should post that playscript for free downloads, as its devastating effect is long lasting, unlike pricey TV ads that evaporate in a few days. Or we can resign ourselves to a Donny T White House … whence the 1% can continue to trickle down on us.
2
Mr. Trump says he’ll run the country like a business. OK, let’s say he’s president of Acme Holdings, and his deals are so “artful” that in short order he forces his competitor, Consolidated Amalgam, to shutter its offices. There’s only one problem. As President of the USA, Mr. Trump is responsible not only for the bonuses of his Acme warriors, but for the welfare of the folks let go by Consolidated. Yep, he owns the Losers. Most are actually citizens already, and he can’t fire them from that.
Maybe the person best qualified for the job Mr. Trump is seeking is not a mogul, but rather…a mother, for mothers care equally for the Golden Child and the Problem Child. We must not over-sentimentalize this analogy. The American “family” can be a brood of “problem children” of every social, economic and cultural sort. Even the little ones will try to put their tiny hands in the cookie jar, while the big ones often attempt to make off with the entire jar. It will take one tough mother to discipline this lot. Frankly, I don’t think Mr. Trump is tough enough. If a woman exhibited his behavior I suspect he would label it “womanly fickleness” or “female vanity.” I really don’t think he’s ready to wear the pants in this family. We’d better not hire him.
Maybe the person best qualified for the job Mr. Trump is seeking is not a mogul, but rather…a mother, for mothers care equally for the Golden Child and the Problem Child. We must not over-sentimentalize this analogy. The American “family” can be a brood of “problem children” of every social, economic and cultural sort. Even the little ones will try to put their tiny hands in the cookie jar, while the big ones often attempt to make off with the entire jar. It will take one tough mother to discipline this lot. Frankly, I don’t think Mr. Trump is tough enough. If a woman exhibited his behavior I suspect he would label it “womanly fickleness” or “female vanity.” I really don’t think he’s ready to wear the pants in this family. We’d better not hire him.
1
Phil Knight said clearly it a few years ago on 20/20: he doesn't intend bring shoe manufacturing back to America. He said "I don't think Americans want to make shoes." I'd be surprised if his position has changed, or if most US companies are any different. Apple won't be making iPhones here any time soon.
This is the distinction that tRump doesn't seem to be emphasizing: It's not simply that Chinese or other foreign companies are sending all their stuff. Rather, our own corporations have moved out. So how would tRump force US companies to bring back all those "millions of high-paying" jobs? Penalize them? Do Americans now want to pay $200 for Nikes, or $1400 for iPhones? Low-cost consumer goods are allowing US consumers to maintain their standard of living.
This is the distinction that tRump doesn't seem to be emphasizing: It's not simply that Chinese or other foreign companies are sending all their stuff. Rather, our own corporations have moved out. So how would tRump force US companies to bring back all those "millions of high-paying" jobs? Penalize them? Do Americans now want to pay $200 for Nikes, or $1400 for iPhones? Low-cost consumer goods are allowing US consumers to maintain their standard of living.
2
Having gone through the formality of dissecting Mr. Trump's Detroit economic speech, and coming to the unavoidable conclusion you did, isn't it time for your page to declare the Republican nominee deserves everyone's vigorous rejection in November? I cannot understand the delay. You can file your endorsement, or non-endorsement, of Mrs. Clinton separately. But please put this miserable, embarrassing, hurtful candidacy to sleep with a Shermanesque essay we can show our children and theirs.
1
Seems he is not prepared enough. I have to say, he had a great and impressive influence on the press and social media, giving us much more fun and surprise. But to the practical extent, he is not qualified.
...to put it mildly.
Every day it becomes ever more clear that a vote for the Trump is a vote for the Chump. The Pied Piper of Promises; the deliverer of nothing but race baiting, slogans, isolationism, divisiveness. All he really cares about is himself. A personality disorder. Probably the worse candidate for high office in the nation's history. Republican Susan Collins of Maine is to be congratulated-- she will not vote for Trump. Decent Republicans---decent people of all persuasions---need to cast their vote for sanity.
1
Mr. Bloomberg says it much better than I,
“I’m a New Yorker, and I know a con when I see one,” Mr. Bloomberg, an independent, said at the Democratic National Convention. “Trump is a risky, reckless, and radical choice and we can’t afford to make that choice.”
Mr. Trump's declaration that global warming is a hoax disqualifies him as a national or international leader. His lack of entrepreneurial insight into creating a new energy technologies to replace fossil fuels will weaken the US economy and will probably cause a major economic contraction before his first term is over. A major contraction will destroy not create jobs and I would anticipate that our inability to maintain our defense infrastructure will make US security vulnerable to attack. We will not be able to deploy military and our influence in international affairs including protection of our sea lines of communications will be in jeopardy. I would also anticipate food shortages and electrical blackouts from flooding of coastal region powerplants. Thus far, this campaign has shown that he does not have the intellect, curiosity, and attention span to adapt to the economic realities of a world with 9 Billion people by mid-century, only 34 years from now.
“I’m a New Yorker, and I know a con when I see one,” Mr. Bloomberg, an independent, said at the Democratic National Convention. “Trump is a risky, reckless, and radical choice and we can’t afford to make that choice.”
Mr. Trump's declaration that global warming is a hoax disqualifies him as a national or international leader. His lack of entrepreneurial insight into creating a new energy technologies to replace fossil fuels will weaken the US economy and will probably cause a major economic contraction before his first term is over. A major contraction will destroy not create jobs and I would anticipate that our inability to maintain our defense infrastructure will make US security vulnerable to attack. We will not be able to deploy military and our influence in international affairs including protection of our sea lines of communications will be in jeopardy. I would also anticipate food shortages and electrical blackouts from flooding of coastal region powerplants. Thus far, this campaign has shown that he does not have the intellect, curiosity, and attention span to adapt to the economic realities of a world with 9 Billion people by mid-century, only 34 years from now.
1
The countries in Eastern Europe have had 15% flat tax until they were admitted to the EU, and it was a boon for the economy, which has grown for 6-8 percent in the period the flat rate had been applied.
Every time Little Donnie opens his mouth about tax cuts or tax policy or eliminating the estate tax, the first thing that I think about is let's see how those proposals affect your taxes - disclose the returns or stop talking about taxes.
1
Did we watch the same speech? I thought it was excellent. I would much rather trust Trump with the economy, He has created thousands of jobs and he knows what it takes what needs to be fixed.
Hillary Clinton promised jobs as a senator of New York. Instead she has brought in TATA Industries, the biggest Indian outsourcing company, the client of Chelsea's company then, McKensey, who was paying her 900,000 for her first job after graduation.
But what other editorial can we expect from the NYT, the Clinton's PR firm?
Here's more about NYT bias from columnist H.A. Goodman:
https://www.youtube.com/watch?v=wH-cpVzuct0
Hillary Clinton promised jobs as a senator of New York. Instead she has brought in TATA Industries, the biggest Indian outsourcing company, the client of Chelsea's company then, McKensey, who was paying her 900,000 for her first job after graduation.
But what other editorial can we expect from the NYT, the Clinton's PR firm?
Here's more about NYT bias from columnist H.A. Goodman:
https://www.youtube.com/watch?v=wH-cpVzuct0
4
How many cents do you think you would have in 3 years if Trump were elected?
The Lopsided Media Exposure of Presidential Candidates is responsible for Huge Disinformation to the American Public. Secretary Clinton is Pilloried by the Media for her emails. Her 'crime' - 4 Years ago, 100-odd Classified emails out of a total of 30,000 emails were routed thru a Private Server. Even after 6 Different Exhaustive Investigations by Congress, the State Dept & the FBI, not one Adverse Result has been found from her action, which she herself has Regretted ! How many of us can remember emails we sent even 6 months ago ?? Donald Trump has announced Public Falsehoods by the Dozens - Meeting Putin, Making Sacrifices, Opposing NAFTA, Opposing Iraq War, Eliminating Death Taxes for 'Workers' blah blah. Hillary Clinton's routine, harmless emails
are equated with Donald Trump's Deliberate Public Falsehoods !! This is the Twisted way Demagogues like Adolf Hitler won Elections & Wrecked Disaster & Doom on their People.
are equated with Donald Trump's Deliberate Public Falsehoods !! This is the Twisted way Demagogues like Adolf Hitler won Elections & Wrecked Disaster & Doom on their People.
1
Trump's economic plan du jour doesnt help anyone but Trump's country club buddies.
Corporate tax relief is only part of the equation that corporations look at. The other primary factors are labor costs and regulations. Even with tax relief, corporations will offshore labor costs to find the cheapest labor and will seek the latest regulations. Trump simply wants to join the race to the bottom.
Tearing up trade agreements and replacing them with agreements favorable to the US sounds like a page from one of Trump's bankruptcy plans. There is no guaranty that the country will get better agreements and may get worse. And, of course, Trump offers no details on what a good trade agreement would look like.
Corporate tax relief is only part of the equation that corporations look at. The other primary factors are labor costs and regulations. Even with tax relief, corporations will offshore labor costs to find the cheapest labor and will seek the latest regulations. Trump simply wants to join the race to the bottom.
Tearing up trade agreements and replacing them with agreements favorable to the US sounds like a page from one of Trump's bankruptcy plans. There is no guaranty that the country will get better agreements and may get worse. And, of course, Trump offers no details on what a good trade agreement would look like.
11
The Times lumps together slashing corporate taxes and protecting the environment with not supporting the TPP.
Many people, including me, do not put all these actions in the same boat.
Hillary Clinton now says she does not support the TPP. That hardly makes her akin to Trump in her ideology.
Many people, including me, do not put all these actions in the same boat.
Hillary Clinton now says she does not support the TPP. That hardly makes her akin to Trump in her ideology.
4
I'm shocked that the NYT doesn't like Donald Trump's economic plan. How well is the NYT doing financially that we should pay attention to what you say? More horrible people that are on the NYT editorial Board do not exist.
8
Ah, the one guy in Chappaqua who supports Trump. A bit over the top here, no? The NYT's editorial board members have nothing to do with running the paper's financial affairs. (And you must have missed the fact that news outlets in general have been feeling the pinch since the rise of the Internet.) You might try addressing the substance of the editorial.
4
We can't shed enough tears for that poor put-upon victim Donald Trump here.
I am confused. What does the financial situation of the NYT have anything to do with the archaic economic policies outlined by Mr. Trump? One is a business (which it seems you are a customer of willing to pay a subscription fee every month, making your opinion of the NYT editorial board quite comical), while the other are economic policies that would set the future fate of a nations prosperity.
Old Don the Con kept the original Republican con of St. Ronnie going with his "trickle-down" economic baloney which has resulted in a great concentration of wealth in the 1%. The only economic item I want to see from Don the Con is his tax returns that would show he pays no income taxes! That is the ultimate con by the master con artist, one Donald J. Trump and why he richly deserves his nickname, Don the Con!
12
Breaking: Trump out of touch with reality, water wet.
This man would torpedo our economy for his own narcissistic aims. His economic plan is self-centered, short-sighted, and would guarantee a new recession. Any voters who are on the fence about this buffoon should take a good look at the den of thieves he's assembled as his so-called-advisers. The entire squad would make any oligarch proud.
This man would torpedo our economy for his own narcissistic aims. His economic plan is self-centered, short-sighted, and would guarantee a new recession. Any voters who are on the fence about this buffoon should take a good look at the den of thieves he's assembled as his so-called-advisers. The entire squad would make any oligarch proud.
9
Telling the working class that eliminating the estate tax is for their benefit is like telling a drowning man you're going to throw him some new swim trunks.
17
And yet, so many will think this is a good idea. Sigh...
If Mr. Trump had simply run his speech in advance with a first year student who has taken Econ 101, he would have been told that his policies do not make economic sense. The more Mr. Trump speaks, the more he highlights just how unqualified he is for office.
7
Trickle down returns!
Apparently some orthodoxies of the right are verbotten to disavow.
Yeah, if it weren't for that darn estate tax, I bet Cleveland's steel mills would still be rockin' 3 shifts, full output.
Apparently some orthodoxies of the right are verbotten to disavow.
Yeah, if it weren't for that darn estate tax, I bet Cleveland's steel mills would still be rockin' 3 shifts, full output.
20
As Yogi Berra would say "It's deja vu all over again." Or better yet voodoo economics redux. Trump has drank the Republican Kool Aid. Another sage, Albert Einstein, taught us that doing the same experiment over and over again and expecting a different result is the definition of insanity. Well we already know that cutting taxes that mainly benefit the wealthy hurts our economy and that is precisely what Trump is proposing. America time to send this poser packing and reject these failed policies once and for all.
9
The Republican game rolls on. Tax cuts for the wealthy. Tax cuts for business. No regulation. Just get angry white people to vote for you.
14
Donald Trump should withdraw from election and move back to Germany, his native land and make Germany Great Again, if Angela Markel give him permission to do that.
2
In reading through the list of "economic advisors", the only person who has "added value" to the economy is Dan DiMicco, former CEO of Nucor, the largest "mini-mill" steel producer which specialized in re-processing scrap steel into high-value steel stock.
Interestingly, Nucor became successful as they abandoned the traditional steel production of open-hearth coal fed steelworks to using smaller production facilities using an electric furnace.
Trump's economic "solution" is recycling, old out-dated technology that is used elsewhere, ecologically ruinous, and only feasible with cheap labor.
If Trump truly wants so "Make America Great Again", it means taking "risk" to leapfrog old technology, with state-of-the-art. It means tax laws that reward real research and development, not plowing capital in "churning" and stock "buy-backs".
Interestingly, Nucor became successful as they abandoned the traditional steel production of open-hearth coal fed steelworks to using smaller production facilities using an electric furnace.
Trump's economic "solution" is recycling, old out-dated technology that is used elsewhere, ecologically ruinous, and only feasible with cheap labor.
If Trump truly wants so "Make America Great Again", it means taking "risk" to leapfrog old technology, with state-of-the-art. It means tax laws that reward real research and development, not plowing capital in "churning" and stock "buy-backs".
6
Who knew that the print version of MSNBC wouldn't like Trump's economic proposals?
7
Attack the messenger if yoiu like: fair game.
But now identify any independent economist who disagrees with the central point: Trump is proposing fantasy economics.
But now identify any independent economist who disagrees with the central point: Trump is proposing fantasy economics.
Trump should be barred from speaking about the economy until he shows his own tax returns. Then one might at least judge the sincerity of whatever his advisers cooked up for him, so that he was able for a change to speak in complete sentences, enlarge his vocabulary beyond 50 words, and not endlessly cover up the language deficit with repetition of the same phrases (mostly superlatives or their opposites) again and again. Yes, Trump is everything others have said about his own economic 'policies' : conman, swindler, crooked deal maker, etc, but analyze his inability to formulate anything coherent on his own and realize that bluster and bravado cover up his marginal illiteracy.
6
"The big problem with Mr. Trump’s tax ideas is that they would leave a multitrillion-dollar deficit for no benefit." Not entirely.
The "big problem with Mr. Trump's" "economic" "plan" (he gave no concrete details) is the fraud that has marked Republican policy since Reagan: tax cuts=prosperity. That policy has resulted in declining real wages for American workers ever since 1980.
We can work our way out of deficits, but not out of a tax system that relegates middle class citizens to fiscal desperation while redistributing wealth to the upper 1 percent. And the 1 percent of Trump's grab-it-while-you-can mentality don't get it either: if the middle classes don't thrive, neither does a GDP that produces dividends.
The "big problem with Mr. Trump's" "economic" "plan" (he gave no concrete details) is the fraud that has marked Republican policy since Reagan: tax cuts=prosperity. That policy has resulted in declining real wages for American workers ever since 1980.
We can work our way out of deficits, but not out of a tax system that relegates middle class citizens to fiscal desperation while redistributing wealth to the upper 1 percent. And the 1 percent of Trump's grab-it-while-you-can mentality don't get it either: if the middle classes don't thrive, neither does a GDP that produces dividends.
13
USA Today reported today that the unemployment rate is so low that several service and sales industries that were asking for only college graduates are hiring high school graduates and dropouts.
They found that they are hungier and more ambitious and are tending to stay longer because of on the job training.
Golly gee, who knew?!
Maybe they'll finally figure or that people with disabilities are also excellent workers.
Since Obama is blamed for everything, I'm going to credit him for the record low unemployment rate and employers finally recognizing they have to start hiring differently.
My clients finally have a chance to compete.
Yay!
Oh wait, Trump (((sad face))).
They found that they are hungier and more ambitious and are tending to stay longer because of on the job training.
Golly gee, who knew?!
Maybe they'll finally figure or that people with disabilities are also excellent workers.
Since Obama is blamed for everything, I'm going to credit him for the record low unemployment rate and employers finally recognizing they have to start hiring differently.
My clients finally have a chance to compete.
Yay!
Oh wait, Trump (((sad face))).
3
Since politicians can say just about anything and do so convincingly, it is very important to look past the rhetoric and instead look at the track record of the two parties to see which one has achieved better results.
It's no contest. Since 1939, the beginning of Bureau of Labor Statistics private sector employment data, jobs have been created 135% faster under Democratic presidents. Over the last nine White House transitions, from Republican presidents to Democratic presidents and vice versa, the pace of private sector job creation has slowed, often dramatically, each time a Republican administration has followed a Democratic administration. And every time a Democratic administration has followed a Republican administration, the pace of private sector job creation has increased, often dramatically. The odds of this happening nine times in a row by chance are more than 500 to 1. Income growth, GDP growth and stock gains have also been far superior under Democratic presidents.
Given theses facts, why would anyone concerned about the economy vote for a Republican candidate for president, especially when their policies align so closely with their Republican predecessors? Will doing the same thing achieve different results this time around?
It's no contest. Since 1939, the beginning of Bureau of Labor Statistics private sector employment data, jobs have been created 135% faster under Democratic presidents. Over the last nine White House transitions, from Republican presidents to Democratic presidents and vice versa, the pace of private sector job creation has slowed, often dramatically, each time a Republican administration has followed a Democratic administration. And every time a Democratic administration has followed a Republican administration, the pace of private sector job creation has increased, often dramatically. The odds of this happening nine times in a row by chance are more than 500 to 1. Income growth, GDP growth and stock gains have also been far superior under Democratic presidents.
Given theses facts, why would anyone concerned about the economy vote for a Republican candidate for president, especially when their policies align so closely with their Republican predecessors? Will doing the same thing achieve different results this time around?
14
For over a year now, every front page of the NYT and CNN's opening story line has been about a vacuous, nonsensical, irresponsible and overly temperamental con man with fascist leanings.
The media made Trump.
Driven by revenue goals, aka attracting viewers, the media has elected to spoon-feed the American electorate with info-entertainment that is too often completely void of any serious substance, something that too many of them no longer have the capacity either to seek or to fathom. It's a vicious dumb-down and downward cycle.
A powerful Obama speech in Hiroshima and the lessons of Ali's life and death come and go with a whimper. Substantive assessments of the ROIs of alternative early childhood education policies, for example, get short shrift.
When will journalists become journalists again?
Eric Sevareid, you are truly missed.
The media made Trump.
Driven by revenue goals, aka attracting viewers, the media has elected to spoon-feed the American electorate with info-entertainment that is too often completely void of any serious substance, something that too many of them no longer have the capacity either to seek or to fathom. It's a vicious dumb-down and downward cycle.
A powerful Obama speech in Hiroshima and the lessons of Ali's life and death come and go with a whimper. Substantive assessments of the ROIs of alternative early childhood education policies, for example, get short shrift.
When will journalists become journalists again?
Eric Sevareid, you are truly missed.
12
Let me understand this brilliant plan; everybody gets a tax cut. A few hundred for struggling families and a few million for the 1%. Yep, that should really Excite the electorate. Who doesn't like a tax cut?
14
Drumpf's plan to rebuild our infrastructure and not increase the deficit is the same plan he used in his successful rebuilding of Atlantic city.
First, he'll stiff all the contractors. Then he'll take out a bunch of loans using our highways and bridges as colaterral. Next. he'll bring in foriegn workers to collect tolls and fill potholes. After using the money he borrowed to pay off unrelated debts, he'll declare bankruptcy, sell our highways, bridges, tunnels and national parks to the Trump corportion for pennies on the dollar and brag about how he made a lot of money on that infrastructure thing.
First, he'll stiff all the contractors. Then he'll take out a bunch of loans using our highways and bridges as colaterral. Next. he'll bring in foriegn workers to collect tolls and fill potholes. After using the money he borrowed to pay off unrelated debts, he'll declare bankruptcy, sell our highways, bridges, tunnels and national parks to the Trump corportion for pennies on the dollar and brag about how he made a lot of money on that infrastructure thing.
12
Too scarily possible! I guess to be legal though he would probably have to sell them to his daughter Ivanka.
1
Thank you for this well crafted article. If anyone is in doubt about the effectiveness of supply side, google "Kansas failed experiment." The governor slashed taxes and waited for job creation that never happened. Maybe supply side made sense 30 years ago. But, in a globalized economy, it's not going to cut it. With more concentrated wealth and cheap labor, the government unfortunately needs to tax and spend more. Depending on the wealthy to do that, just rarely happens.
14
It didn't even make sense 20 years ago. I have yet to see a concrete example of supply-side effectively implemented on a large scale anywhere, much less in the U.S., where everyone, corporations and individuals alike, likes to keep their money where they (and everyone else) can see it.
The Great Very Big Recession was a creation of poor regulations and poor government policies. Trump appears to want to have a sequel that woud be even worse than the Crash of 2008.
12
Let's face it: if you vote for Trump, you get the absolute worst of the Republican legacy, with all of the high points tossed out. Gutting tax cuts designed to undermine social support networks? Check! Huge windfall for the American oligarchy? Check!! Race baiting, jingoism, and xenophobia? Check, check, and check!!!
As for the legacy of racial integration, defense of natural and human rights, and the expansion of federal power for the sake of promoting equality? Nope, nope, and nope. Get them out of here with that crying little brat!
As for the legacy of racial integration, defense of natural and human rights, and the expansion of federal power for the sake of promoting equality? Nope, nope, and nope. Get them out of here with that crying little brat!
14
Trumps proposed tax plan is "Groundhog Day." Republican fiscal orthodoxy over and over despite proof these plans kill jobs and further enrich the obscenely richest Among us. When are Americans going to wake up?
12
The fact that Trump calls himself a businessman, doesn't make him a businessman. He's only a cry-baby big talker who wasted his father's inheritance. Until he shows he made more money from his inheritance than he would have done by investing on bonds, he's no businessman.
14
And you are what?
just more Trump brand snake oil!
4
Mr. Trump, as he trickles down in the polls, puts out a trickle down economic plan that was tried by the last Republican president to devastating effect. Not only did George W. Bush push “big tax cuts through Congress in 2001 and 2003 with the promises of strong growth that never materialized,” but also he left office with the U.S. mired in the Great Recession. President Obama spent most of his two terms pulling us out of that hole. Republicans complain about it being the “weakest recovery,” knowing full well that a Republican Congress has mostly impeded Obama’s efforts since 2010. Yet we have had over 15 million new jobs created and unemployment is at 4.9%.
Trump often complains about the fact that our national debt amounts to a staggering $19 trillion and yet he has no qualms in proposing an economic plan that would add anywhere from $10 to $30 trillion to the national debt, depending on which economic expert you ask, over the next decade. Moreover, his trade policy will severely impact our economic growth and result in the loss of thousands of blue-collar jobs – precisely the ones that he promises to bring back to the U.S.
Trump’s experience with business bankruptcies makes him believe that he is the “king of debt” and he equates this familiarity to being able to similarly handle the national debt, even suggesting default as an option. Trump needs to retake some basic classes on macroeconomics, finance and trade even before he starts getting classified briefings.
Trump often complains about the fact that our national debt amounts to a staggering $19 trillion and yet he has no qualms in proposing an economic plan that would add anywhere from $10 to $30 trillion to the national debt, depending on which economic expert you ask, over the next decade. Moreover, his trade policy will severely impact our economic growth and result in the loss of thousands of blue-collar jobs – precisely the ones that he promises to bring back to the U.S.
Trump’s experience with business bankruptcies makes him believe that he is the “king of debt” and he equates this familiarity to being able to similarly handle the national debt, even suggesting default as an option. Trump needs to retake some basic classes on macroeconomics, finance and trade even before he starts getting classified briefings.
7
I'm just going to keep it simple: Even if Trump loses, he will have won. So I'm going to live vicariously by playing around in the dark for a few minutes....
Trump will have stolen billions of hours of attention from people all over the world, and especially Americans. In the event that he loses, we who hate him should probably just stick with what we want to believe: that he got his comeuppance. But the truth is the joke is still on us. Maybe he won't win the grand prize, but he will still walk away 'a winner' in his own mind, and we will all be losers. Let's admit it- he'll be right. Everyone but him will have lost, no matter what happens from now on.
He'll be disappointed, but soon he'll look back and smile at how he suckered all the "losers" into making him the center of attention- every day for months. Especially risible: The NYT and its effete, over-educated readers, who like to console themselves about the fact they aren't [real winners like him] by exercising their extensive vocabularies.
And of course he will also be able to smile about all those gullible bumpkins, service sector workers who used to have a less humiliating job, and talk radio addicts that supported him.
He got the chance to strut and fret upon the stage he'd always dreamed of since he was a foul-mouthed rich brat. Full of sound and fury, signifying... whatever the hell Fox News says he does today.
My inner 6th-grader is loving it: He gets to be a _____ and everyone looks.
Trump will have stolen billions of hours of attention from people all over the world, and especially Americans. In the event that he loses, we who hate him should probably just stick with what we want to believe: that he got his comeuppance. But the truth is the joke is still on us. Maybe he won't win the grand prize, but he will still walk away 'a winner' in his own mind, and we will all be losers. Let's admit it- he'll be right. Everyone but him will have lost, no matter what happens from now on.
He'll be disappointed, but soon he'll look back and smile at how he suckered all the "losers" into making him the center of attention- every day for months. Especially risible: The NYT and its effete, over-educated readers, who like to console themselves about the fact they aren't [real winners like him] by exercising their extensive vocabularies.
And of course he will also be able to smile about all those gullible bumpkins, service sector workers who used to have a less humiliating job, and talk radio addicts that supported him.
He got the chance to strut and fret upon the stage he'd always dreamed of since he was a foul-mouthed rich brat. Full of sound and fury, signifying... whatever the hell Fox News says he does today.
My inner 6th-grader is loving it: He gets to be a _____ and everyone looks.
3
So, how much does Hillary's campaign pay the Editors to relentlessly harp on Trump? Seriously, it is getting a bit embarrassing how they prostitute themselves (and the NYT) to her campaign's message platform.
5
That's the beauty of the Trump campaign, Hillary doesn't have to do anything but sit back and watch Trump implode.
Did you want to dispute the arguments put forth? Did you want to defend trickle down economics and trade protectionism? Did you read the editorial? Did you understand it?
1
The bigger the con artist, the harder America the Stupid falls for him. It is awesome to behold.
1
Hey! Media and Clintonistas...cut the spiral viral spin.
Mr. Trump, as he has stated himself, is not isolationist,
rather, he is..America First; what a refreshing notion.
Get this, america is a consumer based economy and if
the majority of average consumers don't have money to
spend on consumption, the economy goes south;
where it has been going for many years.
And you know what, if other countries can have textiles, steel,
machinists, and manufacturing, there's no reason, save for
limited thinking, why america can't have those jobs too.
Is the American Dream to be available to just Harvard/Stanford
MBAs, Siliconistas, and beltway/media denizens; I think not.
Give Trump a chance. If he goes flambe' you guys can vote
for the Notorious HRC in '20; yep, she'd try again just out of
a misdirected sense of entitlement.
Just look at the numbers. Due to American brain chemistry,
this country has a boom cycle every 30 years. It's been
delayed due to O's hope and change, but I believe Trump
can give teh American engine a jump start. Cheers....
Mr. Trump, as he has stated himself, is not isolationist,
rather, he is..America First; what a refreshing notion.
Get this, america is a consumer based economy and if
the majority of average consumers don't have money to
spend on consumption, the economy goes south;
where it has been going for many years.
And you know what, if other countries can have textiles, steel,
machinists, and manufacturing, there's no reason, save for
limited thinking, why america can't have those jobs too.
Is the American Dream to be available to just Harvard/Stanford
MBAs, Siliconistas, and beltway/media denizens; I think not.
Give Trump a chance. If he goes flambe' you guys can vote
for the Notorious HRC in '20; yep, she'd try again just out of
a misdirected sense of entitlement.
Just look at the numbers. Due to American brain chemistry,
this country has a boom cycle every 30 years. It's been
delayed due to O's hope and change, but I believe Trump
can give teh American engine a jump start. Cheers....
5
Trump's plan gives the lion share of tax benefits to high-end consumers, not the average consumer. How many average consumers have an estate in excess of $5 million?
Trump has made no proposals that will bring the jobs back. He is just giving his buddies tax breaks.
Trump has made no proposals that will bring the jobs back. He is just giving his buddies tax breaks.
2
When Bush took office the federal budget ran a surplus ...the national debt stood at a low of 56 percent of GDP... unemployment was 4 percent... military spending as at an all time low and not one American had bee killed in combat in over a decade .....eight years later with Bush. military spending was 20 percent of federal outlays ...the budget was 1.4 trillion in the red and the national debt was out of control. Tax cuts had reduced government revenue.....Unemployment was 9.3 percent two million people had lost their homes and the stock market had taken a nosedive ...Electing a Bush on steroids is a dangerous experiment and one from which the country may not recover
Lets just look at Kansas, did Brownbacks drastic tax cuts lead to a booming economy? Economics are a little more nuanced than just reductions in taxes. The capitalists in America aren't going to start paying more to workers just because their tax burden is lower.
11
Let's agree that Donald "Draft-Dodger' Trump is not a business success story. He is a successful reality TV game show host. How anyone would think that he could develop a meaningful economic policy must have the smarts to either be rejected by Trump University or have flunked out of that esteemed educational institution.
4
What makes the NYT Editorial Board qualified to make these assertions?
4
Really?
1
Have we all forgotten how an editorial board works?
Yikes. America does need help...
Yikes. America does need help...
1
Welcome to the Establishment, Herr Trump... just in the nick of time, you scoundrel. Now, the Trump name will be cursed, and be the target of so many hearty guffaws, until the end of time. Bet you didn't see that coming...
Trump must think we are all fools. This is the same old trickle-down economics we have been hearing from the Republican wonks for decades. It doesn't work. In order for Trump's plan to to work the United States would have to achieve 4% sustained GDP growth over an extended period. There is not one iota of recent historical experience that would support the idea that American industry would begin to make the kind of investment needed for this.
Some of Trump's measures are truly deceptive. He wants to eliminate the carried interest boondoggle, but then reduce ALL corporate tax rates to the same level as the current carried interest rate. What a bargain!
He wants to make child care expenses deductible. Yeah. Billionaires can deduct the air fare for the nannies they transport to St. Moritz, while poor people who don't deduct on their taxes suffer
Of course we could create 4% GDP growth through governmental infrastructural investment, but Trump and the GOP would never support such a plan.
Trump is trying to bamboozle us, just like George W. Bush. We have several years of experience with this kind of experiment in Kansas and Louisiana. Kansas under extremist Sam Brownback is a basket case--so much so that a passel of his state legislative supporters were primaried out out of office by moderate Republicans.
The Trump zombies will buy this nonsense, but it is hoped that the bulk of American voters will see through this utter shell game which will only enrich the 1% further.
Some of Trump's measures are truly deceptive. He wants to eliminate the carried interest boondoggle, but then reduce ALL corporate tax rates to the same level as the current carried interest rate. What a bargain!
He wants to make child care expenses deductible. Yeah. Billionaires can deduct the air fare for the nannies they transport to St. Moritz, while poor people who don't deduct on their taxes suffer
Of course we could create 4% GDP growth through governmental infrastructural investment, but Trump and the GOP would never support such a plan.
Trump is trying to bamboozle us, just like George W. Bush. We have several years of experience with this kind of experiment in Kansas and Louisiana. Kansas under extremist Sam Brownback is a basket case--so much so that a passel of his state legislative supporters were primaried out out of office by moderate Republicans.
The Trump zombies will buy this nonsense, but it is hoped that the bulk of American voters will see through this utter shell game which will only enrich the 1% further.
8
We keep circling back to "trickle down" economics. When Reagan proposed it more than a generation ago, it was at least a concept worth exploring once. Since then, as Times' own Paul Krugman has shown repeatedly, trickle down economics is essentially as John Kenneth Galbraith described it a generation ago - feeding a horse oats in the hope that something comes out the other end for the sparrow. That Trump is proposing it yet again is a harsh indictment of Trump's seriousness and his supporters' naivete.
9
Why would anyone believe anything the Donald said. He says crazy after crazy statement, week after week, month after month. None of it makes sense. I have no idea why he and Rs think the minorities will come back and check him out again, why women would, dido. Why independents would listen after the rants and hate speech. Nothing is going to change this picture.
The truth is Donald is going to win less then 40% of the voters. Didn't they see what happened to the Republicans State in 1994 California, when they passed prop 187. It was total destruction of the party. It is happening right before their eyes today.
The truth is Donald is going to win less then 40% of the voters. Didn't they see what happened to the Republicans State in 1994 California, when they passed prop 187. It was total destruction of the party. It is happening right before their eyes today.
7
Oh, and by the way, a presidential candidate who wants to improve our economy, would certainly have all of his products manufactured in the USA, right?
11
Private companies make up the great bulk of our economy. Democrats view them as avaricious and look to government to reel them in. Republicans look at them as our benefactors that are to be coddled and rewarded. Both views are silly. Companies are profit-seeking enterprises that create jobs and are the bedrock of our economy. They are neither nice nor evil. Government's role is mainly to assure that the profit-seeking motive does not unduly take precedence and that the tax system keeps them healthy while generating their fair share of tax revenues.
Those who think corporate policy is a morality play -- which is to say Democrats and Republicans -- are imposing irrelevant personal values on what is cold, economic policy-making designed to create maximum benefit for everyone. Business taxes and business regulation is neither moral nor immoral. What matters is whether it works or doesn't work for the maximum benefit of the people.
Those who think corporate policy is a morality play -- which is to say Democrats and Republicans -- are imposing irrelevant personal values on what is cold, economic policy-making designed to create maximum benefit for everyone. Business taxes and business regulation is neither moral nor immoral. What matters is whether it works or doesn't work for the maximum benefit of the people.
5
How many times must the experiment of giving tax breaks to the wealthy must be tried before recognizing that it does not work...repeat...it does not work. If you want the latest proof, look at what has happened to Kansas where Brownback has cut taxes and brought the state to a sorry economic position, with lethal cuts in every important service. Does it take a genius to realize that commerce thrives when consumers have the means to acquire goods, and that if you want to stimulate the economy, the first thing you do is to give money to them and not the wealthy? So, if corporations get a huge windfall for doing nothing, why would they risk investing money when there are no buyers for their products?
17
Donald Trump doesn't even know that he doesn't know.
12
Trump’s original tax plan would cut taxes on the top 1% by millions, thereby adding $10 trillion to the national debt. After passing these tax cuts, Congressional Republicans would then start wailing about the ballooning deficit. And despite his campaign promises, Trump would agree to cuts in Social Security and Medicare as the only way to reduce the deficit his tax cuts created.
So Trump’s tax plan will ultimately lead to cuts in Social Security and Medicare for the Middle and Working classes in order to cover tax breaks to the rich -- like Trump himself, Donald Jr. et al. And why should he care about cuts in those programs? He and his family do not depend on them – as far as he’s concerned that is chump change for the little people.
In this there will be unity among Republicans. After all, it is the same one-two punch on the Middle Class that Republicans have been pushing for decades.
So Trump’s tax plan will ultimately lead to cuts in Social Security and Medicare for the Middle and Working classes in order to cover tax breaks to the rich -- like Trump himself, Donald Jr. et al. And why should he care about cuts in those programs? He and his family do not depend on them – as far as he’s concerned that is chump change for the little people.
In this there will be unity among Republicans. After all, it is the same one-two punch on the Middle Class that Republicans have been pushing for decades.
11
Why has every comment in the first several dozen from green checked Commentators? Could it be they are waiting to pounce and have been given a green light to dominate the early comments and, thus, the highest 'like' Ratings? Time to create a new category 'the regulars, again', eh. So much for the comments section.
5
And those Bush tax cuts and their harm don't include the unpaid trillions for those wars
7
Trump's speech was more anti-Clinton invective than actual policy. But that's par for the right-wing course now--they have nothing to offer but visceral appeal to white alienation and loss of trust in the GOP which exploited them for decades.
Among the frightening things I heard Trump say was that his daughter Ivanka worked on his financial policies with him. I have waited in vain for someone to point out how little she seems to know about our constitution. At the RNC, in an extravagantly praised speech, she said "When my father is president of America he will change the labor laws..."
No POTUS can make or change law. A POTUS can prioritize among laws. For example, Clinton had his DOJ pay special attention to civil rights abuses. Bush ended that and, instead, had his DOJ snuffle through the records of Democratic politicians to find misdeeds: they found none, and a dozen of so DAs around America were fired. Obama tried to shade the immigration laws and is hung up in the courts.
Where is Trump's head that he thinks his daughter is some kind of expert? No wonder his so-called "policies" as such a mess.
Among the frightening things I heard Trump say was that his daughter Ivanka worked on his financial policies with him. I have waited in vain for someone to point out how little she seems to know about our constitution. At the RNC, in an extravagantly praised speech, she said "When my father is president of America he will change the labor laws..."
No POTUS can make or change law. A POTUS can prioritize among laws. For example, Clinton had his DOJ pay special attention to civil rights abuses. Bush ended that and, instead, had his DOJ snuffle through the records of Democratic politicians to find misdeeds: they found none, and a dozen of so DAs around America were fired. Obama tried to shade the immigration laws and is hung up in the courts.
Where is Trump's head that he thinks his daughter is some kind of expert? No wonder his so-called "policies" as such a mess.
6
The Democrats have had the White House for the past 8 years. Why has income inequality become such a problem? Could it be that no-growth policies that the president espouses just don't work? They complain that corporations want to move jobs overseas. Could it be that having one of the highest corporate income taxes is just a poor policy that makes them consider doing that? Why should we double down on failed Dem policies at this point?
4
I guess we have to treat what Trump says seriously, regardless of merit, because he is the GOP nominee. But he has nothing beyond bluster and regurgitated, failed economic policies, which he merely parrots. Only three more months of pretense to go.
4
Trump is groping at trying to impress people, and ironically the people invited to his Economic Address were not the standard policy and tax wonks. A large portion of the audience was reportedly not cognizant of the issues covered.
When he compares our personal income axes to other countries, he does omit that paid maternity and paternity leave, free day-care and health care are included, and that there is no cost for university. Those benefits surely enhance our economic growth.
https://thetruthoncommonsense.com
When he compares our personal income axes to other countries, he does omit that paid maternity and paternity leave, free day-care and health care are included, and that there is no cost for university. Those benefits surely enhance our economic growth.
https://thetruthoncommonsense.com
2
It some ways we're seeing a plan worse than traditional Republican supply-side theory. A large tax cut reducing revenues but also protectionism aspects that wont help employment while hurting a lot of American businesses. For the average middle-class family? Maybe a little more money to spend, if a trade-war doesn't cut your job, but costs will go up substantially, and the questions that go along with "fewer regulations" shouldn't help anyone sleep more soundly.
4
Even when trying to be serious, Trump can't be so. Teleprompter or no, he can't hide behind visceral self-indulgence, can't cover up the indelible prints of corporate avarice, no faking he's taking the base's trust for a ride as he did for decades to business partners and contractors and bond holders and ...
On the topic of bringing back jobs, indeed the editorial gets it right about work that's all but disappeared in the developed world. As if a giant Luddite crusade can kick all the technology and automation out of the way so that folks can toil again in life-sapping Dickensian factories or turn their lungs black down coal seams.
What Trump and the rabble get mostly muddled in their memories is who precisely was at the tiller when the jobs went off to sweat shops and decrepit hell holes. Trump "forgets" that Americans were luxuriating in C-suites from one end of the USA to the other. Americans made the decisions to shutter plants, only to set up anew in GOP heaven: where labour laws and environmental protections wither before the power of the greenback dollar.
Some good owners protected their people, redoubled their faith in America. Loads others lapped up advice on tax avoidance, almighty all-consuming cost reduction and how to depreciate human beings with a few Excel formulas, virtually erasing the last distinction between living breathing employees and "assets".
Trump wants to knock down the final hurdle for the neo-aristocracy-in- waiting. They're so very close.
On the topic of bringing back jobs, indeed the editorial gets it right about work that's all but disappeared in the developed world. As if a giant Luddite crusade can kick all the technology and automation out of the way so that folks can toil again in life-sapping Dickensian factories or turn their lungs black down coal seams.
What Trump and the rabble get mostly muddled in their memories is who precisely was at the tiller when the jobs went off to sweat shops and decrepit hell holes. Trump "forgets" that Americans were luxuriating in C-suites from one end of the USA to the other. Americans made the decisions to shutter plants, only to set up anew in GOP heaven: where labour laws and environmental protections wither before the power of the greenback dollar.
Some good owners protected their people, redoubled their faith in America. Loads others lapped up advice on tax avoidance, almighty all-consuming cost reduction and how to depreciate human beings with a few Excel formulas, virtually erasing the last distinction between living breathing employees and "assets".
Trump wants to knock down the final hurdle for the neo-aristocracy-in- waiting. They're so very close.
3
''What Trump and the rabble'' Elitist much? Please tell me and the rest of us unwashed American peasants how we can become as enlightened and knowledgeable as you.The palpable arrogance of the establishment is the precise reason for the rise of Trump.Please move to America,there's always room for one more self absorbed elitist know it all.A career in government,media or a seat on the NYT editorial board awaits you.Excuse my American ignorance but what the hell is a C-suite?
1
The GOP's war on women and the environment are exactly why it must be voted out of power.
Moreover, Trump is just another GOP candidate who is running to cut his taxes even though he refuses to show the American public what they are.
Moreover, Trump is just another GOP candidate who is running to cut his taxes even though he refuses to show the American public what they are.
5
Mr. T ought to honest and tell us which of his advisers, or which lobbyists, supply his position papers and speeches. Mr. T. is no more the brainiac of these "policies" than I am a 4 minute miler. He is trying to burnish his thin cred and lay some markers for the debates. He has come to the discussion of economic policy very long after the opening bell.
His initial forays into the campaign, we will recall, dwelled largely on Mexican rapists, wayward Muslims and Sen. McCain's credentials. Policy specifics were a.w.o.l. Having forfeited multiple opportunities in 14 months to display his bona fides on critical matters of revenue and trade, his standing to do so now has eroded like a wave-slammed beach. This is particularly so in the hazy light of his undisclosed tax returns, the--numerous--lawsuits naming him as defendant, his multiple bankruptcies, and so on. In a litany of documented encounters in which he emerges unfavorably, his braggadocio about misleading several business associates, and so forth, we can count on Mr. T to defer utmost discretion or business integrity. To foresee a future with Mr. Trump, evaluate the past and realize that his present is nothing but gas. That new brain trust is a wealthy A-team of has-beens and never-weres, and it is no coincidence that these late-to-the-funeral proposals for the economy is the wish list of self-dealing plutocrats. His form of populism is for the underemployed little people who eat cake.
His initial forays into the campaign, we will recall, dwelled largely on Mexican rapists, wayward Muslims and Sen. McCain's credentials. Policy specifics were a.w.o.l. Having forfeited multiple opportunities in 14 months to display his bona fides on critical matters of revenue and trade, his standing to do so now has eroded like a wave-slammed beach. This is particularly so in the hazy light of his undisclosed tax returns, the--numerous--lawsuits naming him as defendant, his multiple bankruptcies, and so on. In a litany of documented encounters in which he emerges unfavorably, his braggadocio about misleading several business associates, and so forth, we can count on Mr. T to defer utmost discretion or business integrity. To foresee a future with Mr. Trump, evaluate the past and realize that his present is nothing but gas. That new brain trust is a wealthy A-team of has-beens and never-weres, and it is no coincidence that these late-to-the-funeral proposals for the economy is the wish list of self-dealing plutocrats. His form of populism is for the underemployed little people who eat cake.
3
Neither of the candidates spoke about doing away with the federal minimum wage. Both want to raise it, but it should be entirely abolished. That would stimulate small business growth; all types of small businesses would pop up and a lot more teenagers would be employed.
You really have to be rich to afford a modern zero-pay job.
"whenever Trump talks sense" -- Many citizens' judgment on this would of course differ from that of many economic experts. One's welcome to one's opinion, especially if one can defend it persuasively, without leaning on long discredited phrases such as "regulation is stifling expansion" and "cut taxes to spark an economic recovery". Is one who does not cite economic data to bolster their views worth listening to?
The editors heard the same speech; they just understood it more perceptively.
The editors heard the same speech; they just understood it more perceptively.
1
Or, as Rich Little put it on his timeless 1981 album "The First Family Rides Again": "Suppose your mom bakes a big blueberry pie. Now that pie represents the wealth of this country. Now, take that pie and divide it in half. The top half is for defense spending. The bottom half is for domestic programs and the other half is for the national debt."
A household economy of mortals does not provide an adequate model for an (ideally) immortal economy of a nation.
That Trump has decided to take a page from the chicanery invented to the overrated Reagan administration, in adopting the ethics of 'trickle-down' would be sad if it wasn't so pathetic–particularly so with regards to his inept tele-prompter delivery–and ultimately frightening.
As we strive to set an agenda for the twenty-first century this throw back notion is definitely not what we are in need of. With our times requiring leadership that acknowledges the pressing issues of this era–global warming, race, security and, yes, the economy–the Republicans would be better served by celebrating (embracing) Teddy Roosevelt, his brave accomplishments and progressive views, rather than parading the tired conservatism of Reaganomics yet again.
As we strive to set an agenda for the twenty-first century this throw back notion is definitely not what we are in need of. With our times requiring leadership that acknowledges the pressing issues of this era–global warming, race, security and, yes, the economy–the Republicans would be better served by celebrating (embracing) Teddy Roosevelt, his brave accomplishments and progressive views, rather than parading the tired conservatism of Reaganomics yet again.
4
Didn't Republicans try this tax-cutting thing in Kansas? How is that working out for folks on Kansas?
13
"Mr Governor we can't learn the skills needed to partake in the new economy...."
If only there was funding for education.
If only there was funding for education.
Supply side economics doesn't work - but the GOP keeps trying to convince the average person that it's great for them. With the income disparity we currently have, corporations sitting on hoards of cash, why would anyone support these proposals? The GOP keeps telling us if we will just keep cutting taxes, the economy will boom - well, anyone who believes that should look at the economy in Kansas right now.
9
Trump's proposal is nothing more than the tired old supply-side, tinkle-down economics all dressed up as "economic renewal," even though the Republican supply-side approach has failed over and over again. Yet, political pundits keep referring to Trump inaccurately as a "populist."
7
Lowering taxes on the rich does not create jobs or improve our economy. Investing in infrastructure creates jobs and improves our economy.
14
It is so sad. No one ever points out that the prosperity the US had after WW2 was the result of being the only large economy left standing. Now 70 years later we have a lot more competition and no tariff is going to change that reality.
White men you want a better life. Get off the couch, turn off the football game and start paying attention in school. A modern economy has no place for the ignorant and the untrained.
White men you want a better life. Get off the couch, turn off the football game and start paying attention in school. A modern economy has no place for the ignorant and the untrained.
15
On trade, Mr. Trump renewed his pledge to kill the Trans-Pacific Partnership, an agreement that Mr. Obama negotiated with 11 countries.
----------------------------
Hasn't Hillary proposed to do the same under pressure from supporters of Sanders? Why are you shocked, people?
----------------------------
Hasn't Hillary proposed to do the same under pressure from supporters of Sanders? Why are you shocked, people?
5
Either of the two major candidates for president are near pathological liars so I don't care if what they say is true or that any of the major mediators of mainstream opinion agrees with what they say, however when any candidate says something contrary to the widely held beliefs of the editorial board of the New York Times it's certainly worth considering. Otherwise I would simply write in "parrot" on my presidential ballot.
1
It isn't smart to rate the quality of information strictly by its immediate source.
It's difficult to know where to begin with this fantastical piece, so why not with hyperbole?
Trump's taking a "machete" to federal regulations? Well that's not only politically incorrect, but a major draw as well for Democrats and Republicans.
How many machete-wielding small business people, after all, would object to slashing regulations?
And you decry "isolationism" as if secure borders and America for Americans were something bordering on genocide.
As for global warming, we'll see.
But if any action is needed there, it must start with China, India and the other aggravating violators before it falls on the U.S.A.
So fantastical Trump's not, but fantastic he just may turn out to be as a president who loves his country and his people and puts them ahead of globalism and outdated alliances.
Trump's taking a "machete" to federal regulations? Well that's not only politically incorrect, but a major draw as well for Democrats and Republicans.
How many machete-wielding small business people, after all, would object to slashing regulations?
And you decry "isolationism" as if secure borders and America for Americans were something bordering on genocide.
As for global warming, we'll see.
But if any action is needed there, it must start with China, India and the other aggravating violators before it falls on the U.S.A.
So fantastical Trump's not, but fantastic he just may turn out to be as a president who loves his country and his people and puts them ahead of globalism and outdated alliances.
7
Love, schmuve. Trump doesn't give a whit about you, the country, or anybody else but himself.
If you like what's happened to Kansas, you'll do cartwheels when it comes to the rest of the country. The man is a menace and a disaster in waiting. Send him back to his tacky tower and tasteless tv shows where he belongs!
If you like what's happened to Kansas, you'll do cartwheels when it comes to the rest of the country. The man is a menace and a disaster in waiting. Send him back to his tacky tower and tasteless tv shows where he belongs!
Increasing fossil fuel production, and the carbon dioxide emissions associated with it, is exactly the wrong strategy at a time when the world has become increasingly concerned about global warming and its disastrous consequences. But this is of little concern to Mr. Trump, who has dismissed climate change as a hoax and whose “energy revolution,” as he outlined it on Monday, made no mention of carbon-free renewable energy sources.
------------------------------------
It would seem that the editors of this newspaper did not read the op-ed piece by Jeremy Butman in the Stone series that does seem to suggest that man-made climate change is nothing short of hoax. Climate change has existed long before industrial revolution, and it is liberal claptrap that by pitting industry against 'nature', we will come out ahead.
Secondly, if the corporate taxes were not as unreasonable as you seem to believe why are American companies trying to invert? Think, people.
Thirdly, by lowering taxes, you create more disposable income in the hands of middle class and affluent class consumers, who will then spend the money in the economy and create the multiplier effect. In fact, high taxes kill incentive to work hard. I am shocked that the editors are not aware of this simple truth.
Under Obama's tax and spend economic policy, our national debt has more than doubled since Bush left office, and it is time to have new paradigm that will bring forth true change, not shortchange, in this country.
------------------------------------
It would seem that the editors of this newspaper did not read the op-ed piece by Jeremy Butman in the Stone series that does seem to suggest that man-made climate change is nothing short of hoax. Climate change has existed long before industrial revolution, and it is liberal claptrap that by pitting industry against 'nature', we will come out ahead.
Secondly, if the corporate taxes were not as unreasonable as you seem to believe why are American companies trying to invert? Think, people.
Thirdly, by lowering taxes, you create more disposable income in the hands of middle class and affluent class consumers, who will then spend the money in the economy and create the multiplier effect. In fact, high taxes kill incentive to work hard. I am shocked that the editors are not aware of this simple truth.
Under Obama's tax and spend economic policy, our national debt has more than doubled since Bush left office, and it is time to have new paradigm that will bring forth true change, not shortchange, in this country.
2
All lies. The wealthy do NOT spend more when given tax breaks. They sit on their money and use your beloved "multiplier effect" in banking and personal investing to make more - for themselves. This concentrates even more money and power with the wealthy, further weakening the middle class.
Stop worshipping that crackpot Ayn Rand and get a real education on how the economy and government spending work. At the very least, stop spreading false information about the national debt, corporate taxes, and climate change.
Stop worshipping that crackpot Ayn Rand and get a real education on how the economy and government spending work. At the very least, stop spreading false information about the national debt, corporate taxes, and climate change.
For years we wondered why Kansans voted against their interests. Then we found out they don't vote!
Now we have to wonder why Trump supporters don't realize he just presented Paul Ryan's plan to further advantage the rich and let the middle class pick up the tab. They must be so angry they can't see straight.
Now we have to wonder why Trump supporters don't realize he just presented Paul Ryan's plan to further advantage the rich and let the middle class pick up the tab. They must be so angry they can't see straight.
13
One only has to look at the consequences of Republican economic stupidity and hubris in Kansas to know that The Donald, as many including Joe Biden, have said without fear of being proved wrong: Trump doesn't have a clue!
8
Dear Donald:
The majority of your working-class supporters have moved past the tax cuts for the rich. Unemployed miners and factory workers in Michigan, Pennsylvania, Ohio, Upstate New York and elsewhere really don't think that the 10%ers have it too hard. Their biggest concern is not that people with more than $5 million can pass it along to their children tax free.
By the way, most of those 10%er Republicans aren't supporting you anyway. (And the 10%er Democrats despise you.)
Time to move on.
Sincerely,
A reluctant, still tentative supporter
The majority of your working-class supporters have moved past the tax cuts for the rich. Unemployed miners and factory workers in Michigan, Pennsylvania, Ohio, Upstate New York and elsewhere really don't think that the 10%ers have it too hard. Their biggest concern is not that people with more than $5 million can pass it along to their children tax free.
By the way, most of those 10%er Republicans aren't supporting you anyway. (And the 10%er Democrats despise you.)
Time to move on.
Sincerely,
A reluctant, still tentative supporter
21
John, why do you support him? He's not going to do anything for you, or people like you.
What do you think you are supporting?
1
Why are you still a supporter at any level. Have you been drinking the Fox News, Rush Limbaugh, Karl Rove, Newt Gingrich hate the Clintons Kool Ade all these years?
The attacks on Trump have increased across the internet. And they are premeditated -- i.e., not based on breaking news. Articles about Trump managing nuclear weapons and about Republicans who dislike him could be released at anytime. This paper, through a so-called mediator, effectively announced it was going on the offensive. Like most candidates Trump today proposed an economic plan with excessive benefits for his supporters. It was campaign propaganda as usual. But quickly editorials have appeared that make it sound evil rather than politics as usual.
The media offensive comes at a time when polls show Trump recovering from the Khan disaster. I am a lifelong Democrat. I am also a close follower of the media. The real news this week isn't about Trump. It's that, from LA to NYC, the media has abandoned objectivity in an unprecedented way and undertaken a campaign to dump Trump and, more notably, to save Americans from themselves.
The media offensive comes at a time when polls show Trump recovering from the Khan disaster. I am a lifelong Democrat. I am also a close follower of the media. The real news this week isn't about Trump. It's that, from LA to NYC, the media has abandoned objectivity in an unprecedented way and undertaken a campaign to dump Trump and, more notably, to save Americans from themselves.
5
Thank God for the media offensive.
Nixon took us off the gold standard in 1971- We have been creating money from nothing for the last 40 years. We are $30 Trillion in the hole- If Trump does anything at all- he'll simply accelerate what is bound to happen in the next 15 years anyway. Massive inflation, rising interest rates, stock market collapse and world economies who hold our bonds will sink right along with us. So it really doesn't matter who the next President is- we are doomed!
Even gold has value as currency only by fiat. It has to be defined by law as legal tender for all debts, public and private.
He's a crook who has no ethical or personal economic policy. He won't even reveal his income tax statements...you think we can trust this crook with our country's economy?? Move to Russia, Mr. Trump!
8
How are we not surprised? The bankers & billionaires voted for tax breaks, bigger & better, a la Bush, and all for themselves.
No surprise there!
No surprise there!
8
About the US debt and deficit, about which Donald Trump professes great concern, last October in New Hampshire he declared "We owe $19 trillion as a country. And we're gonna knock it down and we're gonna bring it down big league and quickly, we're gonna bring jobs back, we're gonna bring business back, we're gonna stop our deficits, we're gonna stop our deficits, we're gonna do it very quickly.”
Now, he proposes an economic "plan" that will do precisely the opposite. Granted, this is the first time that Mr. Trump has shown so much as a hint of inconsistency, but it is worrying just the same.
www.endthemadnessnow.org
Now, he proposes an economic "plan" that will do precisely the opposite. Granted, this is the first time that Mr. Trump has shown so much as a hint of inconsistency, but it is worrying just the same.
www.endthemadnessnow.org
2
I think when Mr. Trump made nice-nice with Paul Ryan, he dusted off the Ryan tax reform plan.
Starting with tax cuts for the rich! Of course! Trump also mentioned closing loopholes, but not which ones. So for starters, lower their rates! They need it! They (presumably these now mega-rich entrepreneurs) will go on a job creating binge, because finally their taxes are lowered.
No more estate tax! Whoopee. And just who does that help? Mr. Trump look into the mirror.
Supply side never ever worked. Period! Trump supporters just don't get it--there is never too much for those with wealth, so why should they go out on a limb and start a business? So why, you might ask, does the GOP keep feeding their coffers? Oh yeah: campaign donations. I give to you, and you give to me.
Throw away regulations! Great! More inner city water pollution, more chemical accidents by the Kochs and their sprawling subsidiaries, let's pollute the air, let's open the coal mines and never check twice if they are safe.
And while we're at it, let's start a trade war.
Mr. Trump's primary supporters won't know what hit them with an economic plan like the above. Any jobs created will likely be dangerous. And if there aren't any jobs in their area, the next step is privatization and cuts to Social Security and Medicare.
There is no such thing as a free lunch. If Trump supporters are angry now, I don't want to be around a year from now when they see they've been conned.
Starting with tax cuts for the rich! Of course! Trump also mentioned closing loopholes, but not which ones. So for starters, lower their rates! They need it! They (presumably these now mega-rich entrepreneurs) will go on a job creating binge, because finally their taxes are lowered.
No more estate tax! Whoopee. And just who does that help? Mr. Trump look into the mirror.
Supply side never ever worked. Period! Trump supporters just don't get it--there is never too much for those with wealth, so why should they go out on a limb and start a business? So why, you might ask, does the GOP keep feeding their coffers? Oh yeah: campaign donations. I give to you, and you give to me.
Throw away regulations! Great! More inner city water pollution, more chemical accidents by the Kochs and their sprawling subsidiaries, let's pollute the air, let's open the coal mines and never check twice if they are safe.
And while we're at it, let's start a trade war.
Mr. Trump's primary supporters won't know what hit them with an economic plan like the above. Any jobs created will likely be dangerous. And if there aren't any jobs in their area, the next step is privatization and cuts to Social Security and Medicare.
There is no such thing as a free lunch. If Trump supporters are angry now, I don't want to be around a year from now when they see they've been conned.
23
More than likely his backers would talk about the system being "rigged" if his "plan" was to fail.
Trump, who claimed he could not be bought, bows to the demands of wealthy Republican donors.
In so doing, he abandons those who helped him win the Republican nomination. The donors are desperate to hold the House and Senate, because they know that is where tax policies are made and they they are ready to invest in protecting their already sweet deal.
If Trump had any understanding of the economic policies he proposed, which is doubtful, he would be humiliated. Initially campaigning on a promise to help those left behind, he now offers policies that will direct even more of America’s income and wealth to those at the top.
When he said ‘’I will be your voice,’’ who knew he was speaking to the plutocrats?
In so doing, he abandons those who helped him win the Republican nomination. The donors are desperate to hold the House and Senate, because they know that is where tax policies are made and they they are ready to invest in protecting their already sweet deal.
If Trump had any understanding of the economic policies he proposed, which is doubtful, he would be humiliated. Initially campaigning on a promise to help those left behind, he now offers policies that will direct even more of America’s income and wealth to those at the top.
When he said ‘’I will be your voice,’’ who knew he was speaking to the plutocrats?
22
He has not received a penny from corporate interests, so he has not been "bought" by them. If you're looking for a sell-out, however, go over Hillary's donor list. Her deleted emails will also tell a tale if they ever surface again.
"In fact, electricity rates, adjusted for inflation, have increased just 2.2 percent, to 12.82 cents per kilowatt-hour, from 2008 to 2015 and are expected to decline to 12.64 cents this year"
I don't know where you get that. I pay half that for electricity generation, and it's all renewable wind power. The City of Houston is purchasing cheap Texas wind power for a little more than 4 cents per KWH.
Transmission / delivery costs are about the same as generation costs, but Trump is talking about electricity production.
I don't know where you get that. I pay half that for electricity generation, and it's all renewable wind power. The City of Houston is purchasing cheap Texas wind power for a little more than 4 cents per KWH.
Transmission / delivery costs are about the same as generation costs, but Trump is talking about electricity production.
You might be surprised to know that rates vary across the country.
1
I'm not sure what your point is Todd. It seems obvious that the article is referring to some kind of national average. Thus, some rates around the country will be higher than that and some, like yours, lower. As to the point made about production of electricity, it is also fairly straight-forward: There is no reason to expand the use of coal and fossil fuels to generate electricity when the cost of electricity is projected to decline.
1
Face it. Little Donnie does not have a clue when it comes to economic theory, so the presentation he read (using a TelePrompTer again) was written for him by six guys named Steve.
They are all hedge fund guys, real estate moguls and one university type.
What do you expect? They put together a standard right wing Reagan-type "voodoo economics" package. Kill the estate tax (which only kicks in if you have $5.45 million as an individual, or $10.9 million as a couple), lots of cuts for the 1%, trickle down economics, and all the other usual stuff.
Little Donnie did a half-fast job reading the speech. Wow! (How impressed are you?)
They are all hedge fund guys, real estate moguls and one university type.
What do you expect? They put together a standard right wing Reagan-type "voodoo economics" package. Kill the estate tax (which only kicks in if you have $5.45 million as an individual, or $10.9 million as a couple), lots of cuts for the 1%, trickle down economics, and all the other usual stuff.
Little Donnie did a half-fast job reading the speech. Wow! (How impressed are you?)
34
A falsehood never explained is that since capital gains is not taxed until investments are sold, and inherited assets are repriced to current prices at the time of inheritance, the estate tax is often the only tax on highly appreciated property.
If someone makes a fortune in a start up and keeps the vast majority of the stock (think Bill Gates without a charitable bent) and their offspring inherit without an estate tax, the fortune will never have been taxed.
That estate taxes represent double taxation is often not true.
Also, eliminating the estate tax does great damage to middle class taxpayers because the revenue must be made up from somewhere else, generally more taxes on the middle class or cuts in expenditures like education, infrastructure and eventually social security.
If someone makes a fortune in a start up and keeps the vast majority of the stock (think Bill Gates without a charitable bent) and their offspring inherit without an estate tax, the fortune will never have been taxed.
That estate taxes represent double taxation is often not true.
Also, eliminating the estate tax does great damage to middle class taxpayers because the revenue must be made up from somewhere else, generally more taxes on the middle class or cuts in expenditures like education, infrastructure and eventually social security.
23
Further more, a wise wealthy investor can reinvest the dividends and interest while borrowing from the trust to draw an income. With the interest on the borrowing deductible it can offset the annual dividend and interest income. Those of us who earn a salary will pay several times the taxes on an equal earned income. The current tax code is upside down and punishes the working class. Unearned income should be taxed at double the rates of earned income.
Three months to the day until Trump becomes President. Got to come up with something .
4
Even if he garnered enough votes, Trump would'nt actually become president until January when he would be sworn in. Facts and details, they're always getting in the way.
Trump's proposals are an idiotic combination of gifts to the multi-million dollar class and just plain silliness. People who buy into such a mishmash of "bold" proposals obviously don't take the time to understand them. Trump is gunning for a protest or a movement vote, perhaps better said as merely a movement of protest, people who look on the world with Fox News inspired discontent and say to themselves, "There must be something better", without knowing what that better might be.
Trump has uncovered the dark truth in American politics: having slept through civics class and been bored to tears in history, having failed to obtain the left/right education that the threat of communism forced on Europe, many, if not most Americans are infinitely ignorant of what it is government does and how stability in the world is obtained. He's trying to sell bananas to people who live on a banana plantation, telling them all the while it is something new, great, wonderful, unbelievable.
Bringing jobs back to America is a serious undertaking and, so far, the political establishment of both parties has been afraid to take on the task because their rich clients supporting them are raking in billions from outsourcing and downsizing. Trump has no more prospect of solving this problem than a sparrow does of flying to the moon. It will take hard work and dedication to rebuild America and a failed casino operator is hardly the guy for the job.
Trump has uncovered the dark truth in American politics: having slept through civics class and been bored to tears in history, having failed to obtain the left/right education that the threat of communism forced on Europe, many, if not most Americans are infinitely ignorant of what it is government does and how stability in the world is obtained. He's trying to sell bananas to people who live on a banana plantation, telling them all the while it is something new, great, wonderful, unbelievable.
Bringing jobs back to America is a serious undertaking and, so far, the political establishment of both parties has been afraid to take on the task because their rich clients supporting them are raking in billions from outsourcing and downsizing. Trump has no more prospect of solving this problem than a sparrow does of flying to the moon. It will take hard work and dedication to rebuild America and a failed casino operator is hardly the guy for the job.
297
It doesn't matter what Trump says or what papers like The NY Times or anyone on the left or right write about him. His followers are driven by rage, not policy. Most of them (like me) know little about trade policies. I'm an older white guy and I'm shocked that his supporters seem to fear a woman as president more than they did a black man. His hard core followers will vote for him under (almost) any circumstance. Unless, maybe, they see his tax returns.
15
It isn't Clinton's gender that's feared. It just about everything else.
1
You may not know much about trade policy, but you could read about it and try to learn. But what part of tax cuts for the rich do you think will benefit you as an older white guy? Did Reagan's or Bush's tax cuts help you? Does spending on wars in the Middle East help you? Does the diversion of government funds from fixing roads and bridges into those 1% tax cuts or higher defense spending help you? Have you felt the need to spend on guns and ammo to protect yourself and your family because of increasing rage in much of the general populace?
If Trump really wanted to help the working class he could start by sending all of his H1B workers that he has imported from his wife's native country back home and hire Americans instead. And he could open a factory here for his manufacturing.
Maybe he could send Melania back to Slovenia and have her set the example by applying for a visa in the proper way instead of sneaking into this country on tourist visas to get work and then marry a "rich" American.
If Trump really wanted to help the working class he could start by sending all of his H1B workers that he has imported from his wife's native country back home and hire Americans instead. And he could open a factory here for his manufacturing.
Maybe he could send Melania back to Slovenia and have her set the example by applying for a visa in the proper way instead of sneaking into this country on tourist visas to get work and then marry a "rich" American.
With his wholly retrograde, non-innovative economic plan, Mr. Trump has clearly shown himself to be a member of the GOP establishment: He is now all trickle-down, bow down and roll over to Grover Norquist!
What a surprise! The GOP nominates a plutocrat for Oligarch in Chief, and their nominee somehow comes to believe that a yuuge tax-cut for corporations and the obscenely wealthy is a great idea!
Wasn't Mr. Trump's economic plan ghostwritten by his economic team? Isn't his team composed solely of white male mega-wealthy corporate and business types who, just like Mr. Trump himself, would benefit enormously from his plan to lower taxes on the very wealthy, deregulate everything, and pass their "no-death-taxed" wealth on to their heirs and assigns?
In particular, let's all endorse the "no-death-tax" provision. What the US dearly needs is a perpetually ensconced class of uber rich, their wealth increasing generation after generation by, if nothing else, the miracle of compound interest.
Good old GOP and its stalwart dedication to the non-neediest among us!
What a surprise! The GOP nominates a plutocrat for Oligarch in Chief, and their nominee somehow comes to believe that a yuuge tax-cut for corporations and the obscenely wealthy is a great idea!
Wasn't Mr. Trump's economic plan ghostwritten by his economic team? Isn't his team composed solely of white male mega-wealthy corporate and business types who, just like Mr. Trump himself, would benefit enormously from his plan to lower taxes on the very wealthy, deregulate everything, and pass their "no-death-taxed" wealth on to their heirs and assigns?
In particular, let's all endorse the "no-death-tax" provision. What the US dearly needs is a perpetually ensconced class of uber rich, their wealth increasing generation after generation by, if nothing else, the miracle of compound interest.
Good old GOP and its stalwart dedication to the non-neediest among us!
25
When was a presidents economic plan penned solely by the president?
Clinton bought her plan two years ago, using who knows what money because she had not yet declared candidacy.
Doesn't that strike you as odd?
Clinton bought her plan two years ago, using who knows what money because she had not yet declared candidacy.
Doesn't that strike you as odd?
1
Look folks, there's nothing in Trump's background, statements, or "policies" to suggest that his presidency could benefit our nation in any way. It's all negatives, and those who can't see that at this point will not be convinced and do not matter. There's no choice here; it's all about turnout.
16
Looks like we are going to need all the tax revenue we can get:
New Photos Cast Doubt on China’s Vow Not to Militarize Disputed Islands
http://www.nytimes.com/2016/08/09/world/asia/china-spratly-islands-south...
How has Trump's foreign policy and State Department brought us to this point? Oh, it happened on someone else's watch . . .
New Photos Cast Doubt on China’s Vow Not to Militarize Disputed Islands
http://www.nytimes.com/2016/08/09/world/asia/china-spratly-islands-south...
How has Trump's foreign policy and State Department brought us to this point? Oh, it happened on someone else's watch . . .
2
Here is what people hear when Trump makes his economic and military proposals.
1. I am going to get a nice tax cut.
2. Our military will become even more powerful and that will solve our problems with terrorism.
3. All our roads, bridges, and airports will drastically improve.
4. Many regulations will be cut, because they hold us back from prospering.
5. Medicare and social security will not be changed or have any reforms instituted.
If you wonder how Trump was able to lure in so many naive investors into his business projects and then leave them high and dry, watch how many people will be sky high enthusiastic about these unrealistic proposals. The Master of Debt has struck again and this time it will not be a small group of investors left holding the bag, it will be the entire country.
1. I am going to get a nice tax cut.
2. Our military will become even more powerful and that will solve our problems with terrorism.
3. All our roads, bridges, and airports will drastically improve.
4. Many regulations will be cut, because they hold us back from prospering.
5. Medicare and social security will not be changed or have any reforms instituted.
If you wonder how Trump was able to lure in so many naive investors into his business projects and then leave them high and dry, watch how many people will be sky high enthusiastic about these unrealistic proposals. The Master of Debt has struck again and this time it will not be a small group of investors left holding the bag, it will be the entire country.
422
Babel, you have no idea on how punitive the tax code is for a sub-s corp.
I kind of like how #2 can be interpreted two ways. With his goal of bringing back water boarding and other forms of torture, with his expressed desire to hunt down and kill the families of suspects, he really thinks he can use terror to solve our problems.
Actually, it will be the entire world.
Neither candidate has a clue about the technologically-driven economic tsunami that's heading straight at us.
And neither does the Editorial Board.
None of them even know what questions to ask, much less what the answers are. It's like living in a time warp.
This is not going to end well.
And neither does the Editorial Board.
None of them even know what questions to ask, much less what the answers are. It's like living in a time warp.
This is not going to end well.
7
Since it was President Obama that bailed out the auto companies that are doing very well now. You could say that HE was the man who made America great again.
How about that Donald?
How about that Donald?
25
Wow.....didn't even see Eddie Munster's lips move!!!
Lyin' Don, recipient of the Purple Heart, has become Ryan's sock puppet.
How does a repeal of the Paris Hilton Evasion Tax help workers in Detroit?
How much of the working class will benefit from an Estate Tax repeal?
Closing the 15% Hedge Fund rate then drop the corporate tax rate to 15%......boon to the middle class!!
Considering that UnMedicate Don pays no income tax, this is all insulting.
How does the Nanny Tax Credit help working moms? Ivanka benefits, but who in the middle class?
What does the Aquanet Don's plan do to the deficit?
Cue the theme from Looney Tunes and Merrie Melodies......
Lyin' Don, recipient of the Purple Heart, has become Ryan's sock puppet.
How does a repeal of the Paris Hilton Evasion Tax help workers in Detroit?
How much of the working class will benefit from an Estate Tax repeal?
Closing the 15% Hedge Fund rate then drop the corporate tax rate to 15%......boon to the middle class!!
Considering that UnMedicate Don pays no income tax, this is all insulting.
How does the Nanny Tax Credit help working moms? Ivanka benefits, but who in the middle class?
What does the Aquanet Don's plan do to the deficit?
Cue the theme from Looney Tunes and Merrie Melodies......
28
This analysis is certainly useful, but it's curious that this Trump-proposed plan is getting a lot more scrutiny than Paul Ryan's Randian schemes ever do. Why do so many media outlets give the Ryan (R-Koch Industries) such a comparatively free pass?
16
Basically it is the Reagan/Ryan plan regurgitated.
Trump is an expert in one thing: filing for bankruptcies. That is precisely what his economic plan will do to the country. Trump survived four bankruptcies. The country won't survive one.
Carly Fiorina said this to Trump in one of the debates: "You know, there are a lot of us Americans who believe that we are going to have trouble someday paying back the interest on our debt because politicians have run up mountains of debt using other people's money. That is in fact precisely the way you ran your casinos. You ran up mountains of debt, as well as losses, using other people's money, and you were forced to file for bankruptcy not once, not twice, four times."
I don't particularly care for Fiorina, but facts are facts. Trump will run up "mountains of debt" and bankrupt this country, should the people of this great country unwisely elect him in November.
Carly Fiorina said this to Trump in one of the debates: "You know, there are a lot of us Americans who believe that we are going to have trouble someday paying back the interest on our debt because politicians have run up mountains of debt using other people's money. That is in fact precisely the way you ran your casinos. You ran up mountains of debt, as well as losses, using other people's money, and you were forced to file for bankruptcy not once, not twice, four times."
I don't particularly care for Fiorina, but facts are facts. Trump will run up "mountains of debt" and bankrupt this country, should the people of this great country unwisely elect him in November.
14
I'm getting debt whiplash.
Under Bush II and Reagan, Democrats said that deficits were bad. Krugman even wrote a book and toured the world touting this theme. Under Obama, though, deficits are good - not just in the immediate aftermath of the Great Recession, but for the long term. Now Krugman tells us that deficits don't matter as long as a country has its own currency and especially when interest rates are low. He laughs at deficit hawks.
Suddenly, when Trump's plan produces deficits through tax cuts designed to deliver dollars directly to consumers in a demand-challenged economy, deficits are bad again.
My neck hurts already.
Under Bush II and Reagan, Democrats said that deficits were bad. Krugman even wrote a book and toured the world touting this theme. Under Obama, though, deficits are good - not just in the immediate aftermath of the Great Recession, but for the long term. Now Krugman tells us that deficits don't matter as long as a country has its own currency and especially when interest rates are low. He laughs at deficit hawks.
Suddenly, when Trump's plan produces deficits through tax cuts designed to deliver dollars directly to consumers in a demand-challenged economy, deficits are bad again.
My neck hurts already.
4
You need binoculars.
Krugman is not saying deficits are inherently good or bad. Deficits that are investments -- infrastructure, education, research, etc. -- can be good because they get us things that we need and will grow our economy. Deficits in certain forms can be good too. Treasury bonds held in the U.S. benefits all of us by turning a (taxable) profit and providing a stable place to invest money.
Companies know this: even companies that are extremely profitable will carry debt. Personally, I carry student loan debt even though I have enough money to pay my loans off (for now) because I can make more in investments than I lose on interest. I also want to maintain a financial cushion in case something happens. This has helped me develop an excellent credit score, which has benefits beyond just low-interest borrowing. As long as I have the ability to pay off the loans, carrying debt is good for me. That debt is also allowing me to go to medical school, which will increase my future earnings.
Now, if I borrowed $100k to buy a sports car without having the kind of income that could pay it back, that would be very bad. That debt wouldn't benefit me economically and could bankrupt me. That's the kind of debt Trump has carried in the past, and the kind of debt he wants our nation to carry.
Krugman is not saying deficits are inherently good or bad. Deficits that are investments -- infrastructure, education, research, etc. -- can be good because they get us things that we need and will grow our economy. Deficits in certain forms can be good too. Treasury bonds held in the U.S. benefits all of us by turning a (taxable) profit and providing a stable place to invest money.
Companies know this: even companies that are extremely profitable will carry debt. Personally, I carry student loan debt even though I have enough money to pay my loans off (for now) because I can make more in investments than I lose on interest. I also want to maintain a financial cushion in case something happens. This has helped me develop an excellent credit score, which has benefits beyond just low-interest borrowing. As long as I have the ability to pay off the loans, carrying debt is good for me. That debt is also allowing me to go to medical school, which will increase my future earnings.
Now, if I borrowed $100k to buy a sports car without having the kind of income that could pay it back, that would be very bad. That debt wouldn't benefit me economically and could bankrupt me. That's the kind of debt Trump has carried in the past, and the kind of debt he wants our nation to carry.
You are under the widespread Republican delusion that the government just burns the money it taxes. In fact, tax revenue has typically been spent even before it is collected. Taxation and spending directly boost money velocity.
Depends upon what the deficit is caused by. A deficit created by building infrastructure that is around and beneficial for a 100 years is entirely different than one created by lower taxes on the richest 1 percent.
TRUMP'S losing economic game plan is hardly surprising, since his economic game plans for his own businesses have failed so often. His past is littered with failure. Which proves that his current plans will probably work no better than his past business plans. Which is not well at all.
9
Perfect.
The consummate snake oil salesman peddling a batch of supply-side economics snake oil that went rancid the day it was bottled over 35 years ago.
The consummate snake oil salesman peddling a batch of supply-side economics snake oil that went rancid the day it was bottled over 35 years ago.
22
This low energy economic is dead on arrival.
4
For the love of all of the Aesir and Vanir, if you believe in supply-side/trickle-down economic theories, I implore you, I BEG you, to please, please, please familiarize yourself with the economic principle of the "multiplier".
Money, when invested directly by the government (such as in the WPA, the interstate highway system, etc.) creates a multiplier effect of, AT LEAST 1.0. This means that for every dollar invested in government spending, it creates AT LEAST another dollar in economic stimulation, though typically more.
Whereas the multiplier for tax cuts, on its best day, creates, AT MOST, a multiplier of 0.8. Meaning literally every dollar you give the rich in tax breaks, it will, again, AT ITS BEST, create just $0.80 in economic growth, and that's if the CEOs are feeling generous.
It's time we stop trusting the benevolence of these mythical "job creators" to trickle-down the glory of the economic gains we have placed at their feet, and ensure the government creates programs that may actually put the average American back to work (like, oh, I don't know, fixing the 70% of our bridges that can't meet even satisfactory ratings?).
I know my wife and I won't be leaving $11,000,000 to our heirs, and, if by coincidence that DOES happen, I won't begrudge the government that made that wealth possible from taking a cut. Please don't buy the rancid, Trump-emblazoned snake-oil this Svengali is peddling off the back of his bankruptcy cart. Wake up, America.
Money, when invested directly by the government (such as in the WPA, the interstate highway system, etc.) creates a multiplier effect of, AT LEAST 1.0. This means that for every dollar invested in government spending, it creates AT LEAST another dollar in economic stimulation, though typically more.
Whereas the multiplier for tax cuts, on its best day, creates, AT MOST, a multiplier of 0.8. Meaning literally every dollar you give the rich in tax breaks, it will, again, AT ITS BEST, create just $0.80 in economic growth, and that's if the CEOs are feeling generous.
It's time we stop trusting the benevolence of these mythical "job creators" to trickle-down the glory of the economic gains we have placed at their feet, and ensure the government creates programs that may actually put the average American back to work (like, oh, I don't know, fixing the 70% of our bridges that can't meet even satisfactory ratings?).
I know my wife and I won't be leaving $11,000,000 to our heirs, and, if by coincidence that DOES happen, I won't begrudge the government that made that wealth possible from taking a cut. Please don't buy the rancid, Trump-emblazoned snake-oil this Svengali is peddling off the back of his bankruptcy cart. Wake up, America.
132
Wise government creates revenue with multiplier effect. The stuck in the mud Republicans claim it cannot be done.
They even deny that public spending actually adds to their income.
They even deny that public spending actually adds to their income.
I seem to remember Obama raising taxes on the rich and buying votes by extending the Bush tax cuts for everyone else. Democrats, most of whom pay no income tax, love being the arbiter of what is fair in terms of taxes. Now Hillary plans to address the unfairness of the Obama years by raising taxes on the wealthy even further to fund spending. That plus Obama's prolific use of the national credit card just puts more and more of the burden on a minority of citizens. I believe Democracy works best when everybody has skin in the game, not just 50% of Americans. Democrats believe it works best when they can shake down the wealthy to buy votes for social programs that breed dependency, bureaucracy and stagnation. Democrats have been helping people with other people's money for decades. How has that worked out for their constituency? Their number one fear is that their voters shake off the yoke of dependency and victimhood and realize unlimited government isn't the answer, but often the problem. Vote Hillary for No Change You Can Believe In (or change in your pockets for that matter).
8
"Democrats, most of whom pay no income tax..." This gets the award the laugh of the month!
85
It's worked out pretty well, actually. Head out of sand, please.
TL clearly doesn't personally know Democrats...
ANY plan would work if you simply eliminated huge corporate subsidies and wars in the Middle East. There's be plenty of money for everything.
24
Exactly. During the Neocon debacle there was no money for building education or infrastructure because of low tax rates, but trillions could be found apparently in an instant for unnecessary wars – and the costs will keep stacking up for another generation yet. They changed the world alright - no wonder W is lying low these days. Now here comes the next self proclaimed GOP economic guru claiming to have the simple answers apropos of multiple bankruptcies and stiffing suppliers. The fact that he's got this far says everything about the inability of many in this country to understand even the most basic issues around good governance, international relationships and the global economy. People: Wake up!
2
First, let's begin with the contradictions that represent a huge challenge to Donald Trump's "jumpstart": Why does communist China have a 11 city district with 2 million business enteprises and America's free market economy is struggling with marginal growth and frozen wages? Is it really due to regulations and taxes? Why does communist China have the world's fastest growing middle class, expected to be 200 million people by 2020--with 56% of the urban population in the middle class. Is it do to subsided child care? The end of an estate tax? Or a low business tax rate of 15 percent? Why does China produce, on average, a new billionaire a week? Is it due to higher tariffs? Frozen wages?
Donald Trump plan offers no answers--it ignores the main issue of global competitiveness and incredible models of global success. Instead, it takes a short-sighted view that revives an old Republican paradigm of cuts in taxes and regulations; these failed in Europe (still mired in a slow growth, near recession) and in Kansas (a state in fiscal crisis, whose job growth just rose from negative to zero percent!). Tax cuts and deregulation, along with blame, will not work: austerity does not produce prosperity!
Trump's recycled plan does not call for a minimum wage increase. It does transfer wealth to the rich. It is a sham. It leaves the American worker closer to the bottom of the global pay scale. Its technical terms don't translate into ending poverty or more income for workers.
Donald Trump plan offers no answers--it ignores the main issue of global competitiveness and incredible models of global success. Instead, it takes a short-sighted view that revives an old Republican paradigm of cuts in taxes and regulations; these failed in Europe (still mired in a slow growth, near recession) and in Kansas (a state in fiscal crisis, whose job growth just rose from negative to zero percent!). Tax cuts and deregulation, along with blame, will not work: austerity does not produce prosperity!
Trump's recycled plan does not call for a minimum wage increase. It does transfer wealth to the rich. It is a sham. It leaves the American worker closer to the bottom of the global pay scale. Its technical terms don't translate into ending poverty or more income for workers.
46
Lest we forget: Trump's prosperity plan also calls for ending initiatives to cut carbon emissions, ignores renewable energy, and fantasizes about global warming being non-existent. For him, the destruction of the planet paid forward is simply the price of profit.
29
Simple Mr. Rhett, it was draconian population control installed 40 years ago. Couple that with a currency that doesn't float in world markets, and you have created an economic engine. The population growth in China was not sustainable, it was overrunning an agricultural based economy.
Here in the US, our population has increased 53 million in the past 20 years, with a 1.9 to 1.98 birthrate, well below the replacement rate of 2.1. The laws allowed about 20 million immigrants during that time frame.
That's the funny part about demographics, they tell the whole story.
Carbon emissions? That's a joke right?
Have you ever looked up the smelting process of rare earth magnets in China? Every wind turbine here in the States contains 2-3 tons of them.
Here in the US, our population has increased 53 million in the past 20 years, with a 1.9 to 1.98 birthrate, well below the replacement rate of 2.1. The laws allowed about 20 million immigrants during that time frame.
That's the funny part about demographics, they tell the whole story.
Carbon emissions? That's a joke right?
Have you ever looked up the smelting process of rare earth magnets in China? Every wind turbine here in the States contains 2-3 tons of them.
China, a model? No thank you. That country's cities are choked with smoke, it's fields poisoned by heavy metals, its rivers mostly sludge, it's government thuggish, and its workers exploited, packed, voiceless. I don't think Americans can be begin to imagine what it might mean to live and work under those brutal conditions ... unless we focused hard on rereading old histories of nineteenth-century sweat shops in New York and slaughter houses in Chicago ... those years when labor unions were born through struggle and blood.
For the first time this election season, Donald Trump sounds like a true Republican. At the same time, no previous presidential candidate has ever been in as advantageous a position as Donald Trump to benefit from his own proposals. Trump's financial position as a one-percenter (we assume) creates an enormous conflict of interest any time he proposes cutting corporate taxes, investment taxes or estate taxes.
Once again, in outlining his plan for America, his justifications are gossamer-thin, his motives painfully obvious and his greed on full display. How he can offer such a self-serving financial plan and expect us to take it at face value is beyond me. It's the typical Republican pablum, dished out by an even less believable messenger.
Once again, in outlining his plan for America, his justifications are gossamer-thin, his motives painfully obvious and his greed on full display. How he can offer such a self-serving financial plan and expect us to take it at face value is beyond me. It's the typical Republican pablum, dished out by an even less believable messenger.
37
His plan is so consistent with his inability to foresee negative consequences.
Just like a delusional gambler!
Just like a delusional gambler!
1
Jim,
Trump will NEVER be a 'true republican'.
He is NOT Conservative
He is NOT a sane or safe potential Commander In Chief.
He does NOT care about the general well being of Americans.
Trump is a Fraud and a Con Man.
Trump will NEVER be a 'true republican'.
He is NOT Conservative
He is NOT a sane or safe potential Commander In Chief.
He does NOT care about the general well being of Americans.
Trump is a Fraud and a Con Man.
1
Republicanism is at root a rationalization for conflicted interests.
1
Actually, Mr. Trump's economic policies are the one bright spot in an otherwise fatally-flawed candidate and campaign. There was no such concern around running up trillions of deficits for such Obama boondoggles as "cash for clunkers," Solyndra, or the ACA. His tax and regulatory policies have stifled employment and wage growth since the inception of his Presidency, which should have been an easy hurdle seeing how poor the economy was performing when he took office. You criticize George W. Bush's growth achievements - President Obama can only wish for the economic growth that spanned the majority of the Bush Presidency.
You say there would be no benefit for the reduced taxation - no benefit other than to the taxpayer, that is. He and she would benefit greatly and would be able to keep more of their income. A side benefit would be the need for the Federal Government to tighten its belt and reduce wasteful discretionary entitlement and military spending. Seems like a win-win for me.
You say there would be no benefit for the reduced taxation - no benefit other than to the taxpayer, that is. He and she would benefit greatly and would be able to keep more of their income. A side benefit would be the need for the Federal Government to tighten its belt and reduce wasteful discretionary entitlement and military spending. Seems like a win-win for me.
5
Wrong, wrong and wrong. Where does this stuff come from, when you can do an easy internet search to find the correct answers?
21
This nation cannot build infrastructure, create world-class educational opportunities, and solve REAL climate problems with this illogical budget. Give me a break--we're going to keep more for ourselves and the country is going to be GREAT? On what planet do you reside? How, when the storms lash the coast lines, destroy cities, the schools stay underfunded and the bridges collapse are we going to save tax dollars? All of these areas require funding--from the tax structure. Get the Republicans out of education funding, out of the "pie-in-the-sky" job creations and out of the 16th century over climate change and charge forward with real progress. This is a budget for a national disaster. As for Bush's job creation, it hinged on a war that should never have been but which helped his 1% cronies sell war goods. It certainly didn't promote funds for the middle-class. Wages stayed stagnant. How could it promote the middle class, since he never visited a middle class life, nor has Trump who is definitely proposing a budget that is self-aggrandizing.
You need to avoid taking LSD. Bush did a better job with the economy than Obama? PUHLEESE!
On a middle class tax cut: Trump has my vote! If you want to see people in the middle get a raise and you're running for office there's one quick,simple and easy way to do it: cut taxes, voila, wages just went up. All the eggheads who have been running Washington for the last several decades are all in agreement in their opposition to Trump but not a single one takes the blame for the current mess that our country is in. No, how dare you criticize the current state of affairs, that's dark picture of our country, but day after day the media tells us what all the problems we have. Which is it? Stay the course or take a different tack? All the prognosticators, none of whom predicted the great recession of 2008, telling anyone who will listen not that the sky IS falling, but that Trump's ideas will bring gloom and doom to our nation. Totally ridiculous!
5
The belief that taxes are the problem has worked well for Republicans since Grover Norquist crafted that message. If you feel stressed by economic turmoil, chances are that taxes didn't cause it and reducing taxes, especially taxes on the rich, won't fix it.
We have some serious problems that have been exacerbated by cutting taxes. Our infrastructure is crumbling. Not just roads and bridges, but the electrical grid, education and our criminal justice system. The response that has been imposed on us because of the anti-tax fervor is privatization. The faith that private business can be motivated by profit to fix infrastructure is misplaced.
Yes, we have problems and some people have more problems than others. Are you willing to pay taxes to address those problems, or do you think that wiould be giving money to deadbeats who don't deserve help?
We have some serious problems that have been exacerbated by cutting taxes. Our infrastructure is crumbling. Not just roads and bridges, but the electrical grid, education and our criminal justice system. The response that has been imposed on us because of the anti-tax fervor is privatization. The faith that private business can be motivated by profit to fix infrastructure is misplaced.
Yes, we have problems and some people have more problems than others. Are you willing to pay taxes to address those problems, or do you think that wiould be giving money to deadbeats who don't deserve help?
2
its a miracle
1
Surely the answer is clear: You need to change the status quo but Trump is not the man to do it. In fact, no Republican can bring about the change that the country needs. If you think that Republicans or Trump can change the status quo, you have not been paying attention to what Trump has been saying for over a year now and what the Republicans have been doing for more than a generation. If you want change, you need to vote for Democrats, for the White House, the Senate and the House.
1
His big claim to fame, that he's the greatest, the best, the winningest businessman--yeah, right. He, alone, can fix it. Another lie. Big surprise.
18
Don't forget "Bigly"
I liked Mr. Trump a lot better when he was up there on his feet spouting lies and incoherent gibberish about Muslims, Hillary and Obama. The Trump I watched
this afternoon reading somebody’s else’s words looked like he was reading straight out of the Detroit telephone directory -- lifeless, positively bored, wanting desperately to be in another place and as if his heart just plain wasn’t in it.
If you asked him to amplify on anything he had just said, he wouldn’t be able to do it if his life depended on it. Meaning, of course, there would be no way of holding him to account later for any of it, He would, however, still be prepared to insult Mrs. Clinton profusely.
Somebody please give me back my old Donald -- the one who is all hell-fire, brimstone and rants -- and please spare me all this pious talk about his temperament and rationality. What I want and need from now until election day is the guy known as Mr. Entertainment, AKA Mr. Crazy.
this afternoon reading somebody’s else’s words looked like he was reading straight out of the Detroit telephone directory -- lifeless, positively bored, wanting desperately to be in another place and as if his heart just plain wasn’t in it.
If you asked him to amplify on anything he had just said, he wouldn’t be able to do it if his life depended on it. Meaning, of course, there would be no way of holding him to account later for any of it, He would, however, still be prepared to insult Mrs. Clinton profusely.
Somebody please give me back my old Donald -- the one who is all hell-fire, brimstone and rants -- and please spare me all this pious talk about his temperament and rationality. What I want and need from now until election day is the guy known as Mr. Entertainment, AKA Mr. Crazy.
164
So well done! Love the sarcasm.
Let's hope Nomeland Security has a plan in place when he loses and all hell breaks loose among his crazed supporters.
Let's hope Nomeland Security has a plan in place when he loses and all hell breaks loose among his crazed supporters.
1
Maybe Mr. Crazy ain't so crazy after all? But, don't worry, I''m sure Mr. Trump will give you a song and dance before the lights go up, you know... just to keep you entertained :-)
1
A. Stanton makes a good point here. Mr. Trump is indeed entertaining in my view. It is not hard to get a kick out of his wise cracks and even his bazar logic on economic and social policies. It reminds me of watching an old Milton Berle routine of a goofy politician making a speech waving his arms and making faces. Funny but not real. The real part of Mr. Trump might be if elected he would be given speeches to make by aids not knowing what he is saying. With guys like Ryan and McConnell being puppeteers getting a dummy President Trump signing bills giving away the store to corporate big wigs.
Sounds like the typical Republican game plan - benefit the rich and throw everyone else under the bus.
Trump is the perfect mascot for the party of greed, lies, bigotry, misogyny, ignorance and intolerance.
Trump is the perfect mascot for the party of greed, lies, bigotry, misogyny, ignorance and intolerance.
48
Look to Kansas for examples of Trumps economic proposals and see how well things have gone there. Tax rates for businesses, small and large, were cut to almost nothing in hopes of attracting more business and jobs. The expected growth didn't happen, but the lowered rates have broken the states budget. The State has had its bond rating reduced, cut state programs, transportation, and most notably education. The Republican party just had primary elections where the moderate's upset the Koch backed Club for Growth conservatives. What happens next is anyone guess, but if the thinking is cutting taxes make revenue, the evidence seems to run against this.
43
No one, other than Donald himself, has said that Trump is the brightest bulb in the GOP Theater marquee. The brashest, yes. But dim nonetheless, sputtering, sparking and making noise where a proper bulb goes silently about its work. Besides, he was reading from script that was obviously written without his input. It was, after all, in complete sentences...not a Trump trademark...and haltingly delivered instead of the rapid-fire, off-the-cuff stream of consciousness that his fans adore.
This is a man who bankrupted not one or two or even three but four, count'em, f-o-u-r casinos, which are private businesses all but licensed to print money. In the long run, under even modestly competent management, there is no excuse for a casino to lose money, let alone so much it must declare bankruptcy. Were Donald Trump such a good money manager, he wouldn't need so much of it. If he were one percent as good as he says he is, he would have his tax returns printed, bound and junk-mailed to every valid address in the country. This man is not proud of the truth about himself, only of the myth he has propagated, and wants you to believe he believes.
This is a man who bankrupted not one or two or even three but four, count'em, f-o-u-r casinos, which are private businesses all but licensed to print money. In the long run, under even modestly competent management, there is no excuse for a casino to lose money, let alone so much it must declare bankruptcy. Were Donald Trump such a good money manager, he wouldn't need so much of it. If he were one percent as good as he says he is, he would have his tax returns printed, bound and junk-mailed to every valid address in the country. This man is not proud of the truth about himself, only of the myth he has propagated, and wants you to believe he believes.
572
The true and fair picture acknowledges his real estate success, accounts for the fortune his father left him, and concludes that -- in light of inflation -- his business success is so-so at best and hardly good enough to warrant his extravagant bragging. Always go with the truth. Unfairly attacking his record is unnecessary and sure to win him support from those inclined to side with him
Reagan's tax cuts and supply side economics promised the riches and growth would trickle down. An increase in taxes proved the only thing that trickled down to me as a 30 year old making 23K/year in 1986. With Trump's deal, history repeats itself. Not surprising, all of his "advisors" are billionaires and hedge fund folks. Good luck Trumpians if you believe his nonsense.
26
Reagan's handling of the air traffic controllers presaged how Republicans would manage all of high tech business.
I love how the NYT Editorial Board tries to scare us about how Trump putting a 45% tariff on Chinese goods will start a trade war. The US is already in a trade war with China (and many other countries).
China steals our intellectual property, unfairly subsidizes numerous businesses, slaps steep tariffs on US goods, and forces US companies wanting to do business in China to start a 50/50 venture with a local Chinese venture.
What's worse is that those benefiting from this status quo refuse to acknowledge the ongoing trade war – why would a profiteer bite the hand that feeds? Meanwhile, millions of Americans have lost good jobs and are told by said elites to get an education and stop being so ignorant.
Trump is openly addressing unfair trade practices and the extreme frustration it has caused, and has been doing so since the 80s – coincidentally when the US income distribution started to become so unequal. That's why he struck a nerve with a significant amount of Americans, and will continue to have a large and loyal fan base no matter how many gaffes he keeps on making.
China steals our intellectual property, unfairly subsidizes numerous businesses, slaps steep tariffs on US goods, and forces US companies wanting to do business in China to start a 50/50 venture with a local Chinese venture.
What's worse is that those benefiting from this status quo refuse to acknowledge the ongoing trade war – why would a profiteer bite the hand that feeds? Meanwhile, millions of Americans have lost good jobs and are told by said elites to get an education and stop being so ignorant.
Trump is openly addressing unfair trade practices and the extreme frustration it has caused, and has been doing so since the 80s – coincidentally when the US income distribution started to become so unequal. That's why he struck a nerve with a significant amount of Americans, and will continue to have a large and loyal fan base no matter how many gaffes he keeps on making.
46
Don't take this the wrong way, M. Gessbergwitz, but I'll trust the trained, seasoned Economist who point out this WILL create a trade war over your opinion, one of a chat board commenter on the NYT.
1
He had/has a clothing line, why didn't he manufacture these items in the United States if he's so pro American workers?
1
Trump's whole act is victimhood, and you victims just lap it up.
2
Talk about the ultimate in narcissism and selfishness. Trump's proposal for elimination of the Estate Tax is a "Huge" benefit for himself and no benefit to over 99.999% of the American taxpayers.
As the Times Fact Checker points out "It estimated last year that a full repeal would have benefited roughly 5,400 families in 2016. The benefit to those families, however, is considerable: an average savings of roughly $3 million."
How does this benefit the American economy or help the Middle Class Taxpayer?
Trump supporters are fools to vote for him. Trump says he represents the middle class. However, when the details of each of his plans are revealed, time and time again, Trump demonstrates that he is looking out for his own interests first over everyone else.
Mr. Khizr Khan was right “Trump has sacrificed nothing”. Now Trump brazenly wants to get more for himself over the Backs of the American Taxpayers.
As the Times Fact Checker points out "It estimated last year that a full repeal would have benefited roughly 5,400 families in 2016. The benefit to those families, however, is considerable: an average savings of roughly $3 million."
How does this benefit the American economy or help the Middle Class Taxpayer?
Trump supporters are fools to vote for him. Trump says he represents the middle class. However, when the details of each of his plans are revealed, time and time again, Trump demonstrates that he is looking out for his own interests first over everyone else.
Mr. Khizr Khan was right “Trump has sacrificed nothing”. Now Trump brazenly wants to get more for himself over the Backs of the American Taxpayers.
27
This is no different than any other tax proposal, personal or corporate.
The largest portion of our society, the middle class, no longer believes reducing corporate taxes will help them, because they don't believe companies pay the listed rate. Indeed, the US Government Accounting Office (GAO) calculated that from 2006 to 2012 the profitable companies within the US paid an average of 14% in federal taxes, compared to the top rate of 35%, and one in five paid no (zero) federal taxes.
Besides the lack of measurable goals that are to be achieved, it also means you never know when you’re done. Maybe an average effective tax rate of 14% is low enough or if we want to pay off the national debt maybe having 20% of the profitable companies in the US not paying any federal taxes at all has gone too far. Left or right politicians saying we need to lower or raise or keep constant the tax rate is babble. Unable to quantifiably measure where we are and where we want to be, specifically, so we know when we've succeeded are the real issue. This is no different than any other tax proposal (there is no "plan", just what politicians think we want to hear).
The largest portion of our society, the middle class, no longer believes reducing corporate taxes will help them, because they don't believe companies pay the listed rate. Indeed, the US Government Accounting Office (GAO) calculated that from 2006 to 2012 the profitable companies within the US paid an average of 14% in federal taxes, compared to the top rate of 35%, and one in five paid no (zero) federal taxes.
Besides the lack of measurable goals that are to be achieved, it also means you never know when you’re done. Maybe an average effective tax rate of 14% is low enough or if we want to pay off the national debt maybe having 20% of the profitable companies in the US not paying any federal taxes at all has gone too far. Left or right politicians saying we need to lower or raise or keep constant the tax rate is babble. Unable to quantifiably measure where we are and where we want to be, specifically, so we know when we've succeeded are the real issue. This is no different than any other tax proposal (there is no "plan", just what politicians think we want to hear).
1
Trumponomics is rewarmed George W Bush economic policies with one difference. The recession would happen faster.
16
Trump's economic plans are in line with his performance as a businessman who has repeatedly failed on venture after venture (Trump U, Trump Steaks, Trump Water, Trump Taj Mahal Casino, etc.) Although the Republican establishment largely finds Trump an embarrassment, his plans to provide tax cuts for the rich and mega-corporations, gut any attempts to combat global warming, and ignore the dire need to substantially increase the minimum wage for millions of workers, directly match the economic platform of the GOP and would place our entire economic foundation in peril. Not to worry, Trump's canned speech was followed a few hours later with one of Trump's infamous tweets - this one about an Iranian conspiracy linked to Hillary's emails. The man cannot help himself. But the party can help itself by standing up and admitting he has complete disregard for decency. Thank you Senator Susan Collins for stepping up. Let's hope other GOP members follow suit.
10
Donald's economic plan would also place our nation at risk of significant economic decline. His proposals do not create jobs for young uneducated and high school-only white guys. Our companies and global companies are creating jobs for people with the skills and education to perform those jobs and compete globally. Giving those companies tax breaks will not give them a reason to create jobs for uneducated, untrained people. Those tax breaks will ultimately go to the rich (1%) stock holders and executives of those companies.
5
It doesn't matter what Trump says or proposes to reinvigorate our economy the New York Times will disagree with every single word he says. Trump and Sanders both brought opposition to the TPP to the forefront which has caused Hillary Clinton to belatedly and half heartedly oppose it, making that issue moot. Trump's strongest attribute is to upend the status quo, to try something, anything to bring back job growth and wage growth which by all accounts has remained stagnant for decades. Trump is trying to revive our manufacturing economy and for that he should be praised not maligned. The Democratic party has, since NAFTA, turned its back on workers, and no worker in there right mind would support Hillary Clinton for president. Ivory tower economists including those at the New York times and those working for the government are right
about the effects of policy no more than fifty percent of the time, otherwise the economy would work for everyone, all the time, year in and year out but it doesn't and never has. Time for a change. Make America Great Again!
about the effects of policy no more than fifty percent of the time, otherwise the economy would work for everyone, all the time, year in and year out but it doesn't and never has. Time for a change. Make America Great Again!
4
Stop right there.
When you say the TPP issue is now "moot", it is not.
This papers' editorial board gave the opinion that it would be picked up again, albeit with a few minor concessions as a sop, in a Clinton presidency.
Clinton has shown far stronger advicacy for that sham "trade policy" than her more recent denunciation of the same. And, not to forget it was a definite lawerly-qualified denunciation at that; cleverly leaving the door open to picking it up again in an ever so slightly modified form that would not cause much concern to her financial backers.
The immense and long-term harm such a "trade policy" would cause for ordinary Americans has not been calculated, or, if calculated, would not be provided by a party that was happy to Gruberize the ACA discussions. All we can tell is that it is a bad plan that does not deserve to be used. In this, we can only trust a Trump presidency.
When you say the TPP issue is now "moot", it is not.
This papers' editorial board gave the opinion that it would be picked up again, albeit with a few minor concessions as a sop, in a Clinton presidency.
Clinton has shown far stronger advicacy for that sham "trade policy" than her more recent denunciation of the same. And, not to forget it was a definite lawerly-qualified denunciation at that; cleverly leaving the door open to picking it up again in an ever so slightly modified form that would not cause much concern to her financial backers.
The immense and long-term harm such a "trade policy" would cause for ordinary Americans has not been calculated, or, if calculated, would not be provided by a party that was happy to Gruberize the ACA discussions. All we can tell is that it is a bad plan that does not deserve to be used. In this, we can only trust a Trump presidency.
Id anyone at the Times able to estimate how much money made by offshore manufacturers has cycled back to the US in the form of investments in US companies? How much has cycled back I. The form of purchases of NY apartments, including those built by Trump? Has he benefited from the international trade he maligns?
4
So, current trade policies only benefit Manhattan apartments?
1
I wish more people were defending the concept of free trade, not just on economic grounds but as fundamental force for peace, partnership and the spread of beneficial ideas around the world. Doing business with people around the world exposes them to who we are and what we stand for. It creates dialogue and partnerships at all levels. Free trade has done much more to spread our best values around the world than legions of diplomats and politicians ever could.
20
Trump should not be maligning free trade, but rather he should be doing more to encourage people to be better, to respect the spirit of competition, to grow as people and to, perhaps, learn a different skill or different trade. To create something new, not to blame others.
And it has also exploited developing world workers who work long hours for low pay to provide wealthy North Americans and Western Europeans with low cost goods. It has also taken away many jobs that were formerly performed by Americans and has allowed the rise of Trump style fascism because many of these displaced workers are not able to move upstream into higher paying jobs that require college degrees. Free Trade can be good for America but only if the wages paid to offshore workers are raised to a level that allows them to raise their standard of living and afford to buy American products.
Failed policy from a failed businessman, member of a failed Royalist GOP, doing what any gambler does, doubling down on a failed hand. This lunatic and his Royalist GOP supporters really do not have any original thoughts. How could any breathing American vote for such a disaster?
Vote for sanity this November.
Vote for sanity this November.
46
Donald's proposals do nothing to create jobs or financial security for the uneducated or high school-only young white guys who support him. His tax breaks for businesses will not encourage those businesses to create jobs for uneducated workers. He offers nothing to prepare those young people for 21st century jobs or for the 8 million jobs that remain open now due to a lack of trained workers. Donald's so called economic plan continues his scam. His supporters continue to fall for it; and leaders of the GOP continue, by allowing it to go unchecked, support it too.
18
As noted, increased energy production has an adverse effect on the environment. I believe that, with fracking and offshore drilling, the production of US oil doubled during the Obama administration. But. while environmentalists have criticized fracking, they haven't much criticized the Democrats for their oil policies, Instead, the seminal recent environmental issue was the Keystone pipeline, one of millions of pipelines in the US, the effect of which is trivial when compared to our oil boom.
I don't pretend to be an expert on these matters. But allowing fracking and increased offshore drilling, building countless pipelines, and making us vulnerable to countless spills does seem enough of an environmental travesty to merit widespread criticism of Obama's environmental record. Moreover, when you double oil production, you create countless jobs, suggesting that Obama's economic recovery was substantially based on disastrous environmental policies. If you have a way to justify Obama's oil boom on environmental grounds, feel free to make it up. Hundreds of Obama apologists are waiting to praise your brilliance.
I don't pretend to be an expert on these matters. But allowing fracking and increased offshore drilling, building countless pipelines, and making us vulnerable to countless spills does seem enough of an environmental travesty to merit widespread criticism of Obama's environmental record. Moreover, when you double oil production, you create countless jobs, suggesting that Obama's economic recovery was substantially based on disastrous environmental policies. If you have a way to justify Obama's oil boom on environmental grounds, feel free to make it up. Hundreds of Obama apologists are waiting to praise your brilliance.
2
Not that hard to explain really. Obama may have increased domestic oil production, but this just means less oil is imported. The same amount of oil is used in total. However by increasing use of gas through fracking, rather than oil, greenhouse gases are reduced because gas is less carbon intensive than oil. Furthermore, by encouraging investment in alternatives such as wind and solar power, greenhouse gas emissions are reduced further. On these grounds Obama's environmental record, while not good enough (although largely because of the GOP's refusal to consider a carbon tax or an emissions trading scheme) is not bad
Sorry Mr. Trump, this broken record has been debunked and thrown out with with the old turn table. Your desperation survival reach to the GOP and to women (day-care deduction) is so obviously insincere it is laughable. Looks like the only things trickling down are your poll numbers and melting away of you campaign.
16
Actually, his polls numbers have rebounded this week, which is why everything he says or does is front page news.
Finally! I don't know about you but I've been looking forward to this speech for a long time. I finally get to hear Mr. Trump's plans on how he is going to help a working class guy like me get ahead...And I liked what I heard! Business taxes! Yes! I'm sure that is part of the standard 1040 filing! The Death tax! Of course! That will certainly affect me in about 30 - 40 years! Clinton's Emails! Now you are talking! What have those emails ever done for me! A trade war with China! Obviously good! I never liked paying $150 for a 200-inch flat screen! Energy revolution baby! Send me back into the ground to dig out that wonderful coal!
31
I checked. There is nobody working class in DC who spells affect correctly when used as a verb. LOL
At least Mr. Trump agrees with mainstream Republicans on one agenda item: slash taxes on the rich!
28
This man is clearly delusional. Slash taxes, increase spending, impose tariffs, and hope an isolated economy will improve so much that we can grow our way out of astronomical debt when not only will this formula prompt reciprocal tariffs by our trading partners crippling our expert industries, but increase the cost of imported goods.
18
I guess basic math is not taught at Wharton. Lets pay off the debt by lowering taxes! What genius thought this one up? Oh yea, Reagan - the actor turned mathematical genius with his famous "trickle down" breakthrough.
"...by getting rid of the estate tax" Trump's kids will certainly give him all the support they can give for him to become prez - as embarrassing as it is.
"...cutting tax rates encourages people to work and businesses to invest." I guess we do not work hard enough based on the taxes we pay - or the low salaries we are paid. Any and all tax cuts to the wealthy (for DOING NOTHING) does nothing more than add to the Wall Street Casino "play money" they have to gamble with, or perhaps add another few feet to their super yacht. And businesses simply add the tax windfall to their bottom line - they only invest when they see a possibility of more business to come - tax cut or no tax cut. Silly, and cruel to the rest of us.
As usual, the GOP, and now Trump, want to sabotage and destroy the government of the people by starving it of resources even more and putting it into further debt. If only they would increase the debt for a good cause - like infrastructure modernization, protecting a livable environment, etc. instead of letting their rich pals get even richer without doing a thing - planet Earth be damned.
At least Trump's doesn't have any intellectual property worth stealing for the Chinese. or anyone else.
"...by getting rid of the estate tax" Trump's kids will certainly give him all the support they can give for him to become prez - as embarrassing as it is.
"...cutting tax rates encourages people to work and businesses to invest." I guess we do not work hard enough based on the taxes we pay - or the low salaries we are paid. Any and all tax cuts to the wealthy (for DOING NOTHING) does nothing more than add to the Wall Street Casino "play money" they have to gamble with, or perhaps add another few feet to their super yacht. And businesses simply add the tax windfall to their bottom line - they only invest when they see a possibility of more business to come - tax cut or no tax cut. Silly, and cruel to the rest of us.
As usual, the GOP, and now Trump, want to sabotage and destroy the government of the people by starving it of resources even more and putting it into further debt. If only they would increase the debt for a good cause - like infrastructure modernization, protecting a livable environment, etc. instead of letting their rich pals get even richer without doing a thing - planet Earth be damned.
At least Trump's doesn't have any intellectual property worth stealing for the Chinese. or anyone else.
26
Trump a legitimate business man? And I am the Queen of England.
This is nothing but a giveaway to the men who are his "advisors" most of whom are millionaires and billionaires. Rewarding companies that have had no problem w inversions by reducing their tax rates with no mention of effective tax rates? Repealing estate taxes which affect couples w > $11MM in assets?
Supply side economics is exactly what President George H.W. Bush (no particular fan here, he gave us Clarence Thomas after all) called it all those years ago: voodoo economics.
Obama a "job killer?" Trump must be on the road to madness.
D for drive and R for Reverse. Do we really want to revert back to 2008?
This is nothing but a giveaway to the men who are his "advisors" most of whom are millionaires and billionaires. Rewarding companies that have had no problem w inversions by reducing their tax rates with no mention of effective tax rates? Repealing estate taxes which affect couples w > $11MM in assets?
Supply side economics is exactly what President George H.W. Bush (no particular fan here, he gave us Clarence Thomas after all) called it all those years ago: voodoo economics.
Obama a "job killer?" Trump must be on the road to madness.
D for drive and R for Reverse. Do we really want to revert back to 2008?
31
The Trump speech is the same warmed-over Republican tax cuts the party has touted for decades. Where is the reform Trump promised? How about increasing the corporate share of the Social Security tax three percentage points to recoup the money CEOs added to their bonuses when they ended traditional pensions for millions of workers? Just more trickle down tricks. Did Trumps's handlers just cut and paste an old Mitt Romney tax speech given before this same old tired group of party insiders? Squint hard, and The Donald does look a bit like Mitt.
14
The headline for this editorial should read: "Trump Surrenders to Republican Elites." This is all the more apparent when we add today's speech to Trump's perfunctory endorsement last Friday of Paul Ryan, John McCain, and Kelly Ayotte.
17
I hope his core supporters of angry and unemployed voters were listening. Tax breaks for the rich? Wait, isn't that the rigged system they despise? Economic team made up of economists involved in the subprime debacle and related carpet baggers? Deregulation? If Trump supporters want change, this isn't it.
24
WIth two losing quarters in a row in a still expanding economy, maybe the NYT should be a little less strident in its economic pronouncements.
3
Repealing the estate tax only helps the very richest folks in the country, like Trump.
Less than 1% of all people owe estate taxes after the $10.9 million exemption.
The share of corporate taxes collected as a % of GDP has declined for decades despite record profits as a % of GDP.
Billionaires and corporations have been shifting the tax burden to the merely affluent, the middle class and small businesses for years.
Regressive payroll taxes make up an increasing share of federal tax receipts. Trump's plan is more of the same.
His reckless deficit spending would weaken Social Security, Medicare and the US economy by further concentrating wealth in the hands of a few.
23 Americans own as much as the bottom 160 million Americans.
Excessive wealth and income concentration saps economic strength and has historically led to economic and social collapse.
Trump's plan devised by billionaires is the same old GOP "tinkle-down" policies.
To affect real change, Americans need to elect a Democratic President and Congress.
We need to end Citizen's United.
We should end payroll taxes and replace employer sponsored health care with Medicare for all to increase after-tax median income and encourage hiring.
We should rebuild and enhance infrastructure to improve productivity.
Finally, we must end the deferral of taxation before repatriation for multinationals to end tax dodges.
Clinton is for constructive change, while ruin follows Trump's empty promises.
Less than 1% of all people owe estate taxes after the $10.9 million exemption.
The share of corporate taxes collected as a % of GDP has declined for decades despite record profits as a % of GDP.
Billionaires and corporations have been shifting the tax burden to the merely affluent, the middle class and small businesses for years.
Regressive payroll taxes make up an increasing share of federal tax receipts. Trump's plan is more of the same.
His reckless deficit spending would weaken Social Security, Medicare and the US economy by further concentrating wealth in the hands of a few.
23 Americans own as much as the bottom 160 million Americans.
Excessive wealth and income concentration saps economic strength and has historically led to economic and social collapse.
Trump's plan devised by billionaires is the same old GOP "tinkle-down" policies.
To affect real change, Americans need to elect a Democratic President and Congress.
We need to end Citizen's United.
We should end payroll taxes and replace employer sponsored health care with Medicare for all to increase after-tax median income and encourage hiring.
We should rebuild and enhance infrastructure to improve productivity.
Finally, we must end the deferral of taxation before repatriation for multinationals to end tax dodges.
Clinton is for constructive change, while ruin follows Trump's empty promises.
17
it's getting tiring hearing Donald Trump and his vile ideas. It's also getting tiring to respond to the non-vile, rich-loving economic platform he spiels. Is he a man sensitive to the lower classes, or a Paul Ryan puppet?
Suffice it to say: He's a self-centered whacko.
Suffice it to say: He's a self-centered whacko.
23
For all the populist talk, its standard Republican trickle down fare that will NOT benefit typical workers. Expanding low tax rates to "pass thru" taxpayers puts Trump himself right at the top of the list of beneficiaries. if Trump had any substance he would propose comprehensive tax reform. He's right the tax code should be simplified and regulations reduced where possible. But not by reducing brackets. If he really were creative he'd suggest a Value Added tax to facilitate income tax reduction, deficit reduction and infrastructure spending. The con continues.
165
He also conveniently forgot to mention how the estate tax works, for his supporters to understand that it won't benefit them. In fact, the lost revenue from the estate tax will be on the shoulders of us in the middle, once again.
Massive tax cuts? Let what happened to Kansas stay in Kansas.
31
If anyone needs to see real life evidence of Trump's economic disaster plan, just look at Kansas. They've gone whole hog into supply-side economic insanity and essentially destroyed the state along the way.
The GOP plan would do to the entire nation what the Kansas GOP did to their state: kill it.
The definition of insanity is doing the same thing over and over again and expecting a different result. Supply side has been tried and failed several times in many places. Then again, insanity has become Trump's middle name.
The GOP plan would do to the entire nation what the Kansas GOP did to their state: kill it.
The definition of insanity is doing the same thing over and over again and expecting a different result. Supply side has been tried and failed several times in many places. Then again, insanity has become Trump's middle name.
33
Infrastructure projects are what expanded and built America. Roads were forged between towns and villages along foot paths. Railroads spanned the nation along which towns sprung up in which farm products and cattle were shipped to cities and cities shipped manufactured products to the country. Then the telegraph wires spread along rail lines linking stations in small towns to cities resulting in fast news travel and commerce. Following WWII, Eisenhower pioneered the interstate highway system that further enabled commerce. In the later years DARPA invented the internet to link military bases on a web like electronic communications network which has now become an integral part of American life. A tech revolution grew along with the internet spurring more commerce.
Now we have hit a wall of innovation. What is the next great commercial revitalization? Alternative energy means such as wind, solar, geothermal, hydroelectric, tidal power and more. Trump represents the old tired ways while Clinton backs new innovation.
The choice is starkly clear. Go backwards with Trump, or embrace the next technical revolution with Clinton.
Energy is the foundation of our economy. We must evolve, or suffer again with 147 dollar oil barrels such as in 2008. That brought us the great recession in my view by draining resources from the wider economy.
Green Energy Generation is the new tech revolution. Embrace it or stay behind.
Now we have hit a wall of innovation. What is the next great commercial revitalization? Alternative energy means such as wind, solar, geothermal, hydroelectric, tidal power and more. Trump represents the old tired ways while Clinton backs new innovation.
The choice is starkly clear. Go backwards with Trump, or embrace the next technical revolution with Clinton.
Energy is the foundation of our economy. We must evolve, or suffer again with 147 dollar oil barrels such as in 2008. That brought us the great recession in my view by draining resources from the wider economy.
Green Energy Generation is the new tech revolution. Embrace it or stay behind.
10
I found Trump's plan to be quite an interesting and somewhat disjointed mixture of several previous Republican administration plans and promises. Bizarrely, he presented his various proposals as a matter of fact with no comprehensive structure and little attention to domestic spending, which is our nation's most important cost driver. If his goal was to try to bring into the fold traditional Republicans, he may succeed in part. However, it was not clear to me that he understands what he is saying. I also do not think that he would be able to enact the majority of his proposals if he were elected. He tried hard to deliver someone else's message, and to me, it was not convincing.
9
"Mr. Trump told the Detroit Economic Club that he would cut taxes to an extent not seen since Ronald Reagan was in the White House. He said he would slash the corporate tax rate to 15 percent, arguing that the current statutory 35 percent is one of the highest among developed countries."
NY Times, do you not read your own paper? Within the last few days you ran an article in which bloggers at least criticized the media for simply reporting what is said without countering that reporting with FACTS. So DT claims Reagan cut taxes? Last I knew he also raised taxes, a number of times. And "highest taxes among developed countries"? Isn't that also a lie?
How about presenting the FACTS along with the quotes??
NY Times, do you not read your own paper? Within the last few days you ran an article in which bloggers at least criticized the media for simply reporting what is said without countering that reporting with FACTS. So DT claims Reagan cut taxes? Last I knew he also raised taxes, a number of times. And "highest taxes among developed countries"? Isn't that also a lie?
How about presenting the FACTS along with the quotes??
9
I believe that Donald Trump has risen to be the Republican nominee because the media has utterly failed to challenge the huuuge number of falsehoods that Donald Trump spews on a nonstop basis. Why? Because The Donald is great for ratings, and ratings are great for media profits. In effect, he has become their Savior. It's time to call bullshit on this actor; 1, 4, or 8 years of media profits are far less important than allowing this clearly unqualified man to be the leader of the free world.
"It is essential that you should practically bear in mind that toward the payment of debts there must be revenue; that to have revenue there must be taxes; that no taxes can be devised which are not more or less inconvenient and unpleasant." George Washington, Sept. 19, 1796
Sorry, Mr. Trump, but revenue is needed to pay for infrastructure, pay down our debt, pay for public schools and libraries, etc. We suspect you have never paid your fair share and your plan is a wink and a nod to the super rich. Eliminate the Estate Tax so your billionaire club can keep your children and their children and their children in gilded lifestyles like the aristocracy of George III England? No! We want at least 40% of that if not more before it winds up in a French Chateau rather than in parks and bike trails and in making life a tad easier for women who can't afford daycare or veterans who can't find work.
Sorry, Mr. Trump, but revenue is needed to pay for infrastructure, pay down our debt, pay for public schools and libraries, etc. We suspect you have never paid your fair share and your plan is a wink and a nod to the super rich. Eliminate the Estate Tax so your billionaire club can keep your children and their children and their children in gilded lifestyles like the aristocracy of George III England? No! We want at least 40% of that if not more before it winds up in a French Chateau rather than in parks and bike trails and in making life a tad easier for women who can't afford daycare or veterans who can't find work.
11
Mr. Trump, take a look at Kansas, their similar experiment is in full stride.
Ask Kansans how well it is working out for them.
Ask Kansans how well it is working out for them.
13
Look at what has been happening in Kansas relative to what has been happening in California…Trump's economic plan is cruel for all except the most well off.
6
China protected its industries by fixing its currency. That worked well for them. It worked so well that we, while preaching free trade mantra, have lost our industries and soon our military dominance. How did that "free trade" mantra work out for us?
4
Proposing to eliminate the estate tax above $5.4M/$10.9M is perhaps the most egregious gesture, as it obviously helps the top 0.2% and nobody else. It directly worsens wealth inequality; there are no side benefits to society, just a bunch of even more smug and entitled spoiled brats. Trump supporters: how is this supposed to make America great? How is this supposed to help working people?
11
Why would you assume the worst in people? The people who have the money - who, hopefully, are smarter are wiser, do useful things with that money, for example contribute to charities, to research institutes that further scientific discoveries you never hear about in the news or newspapers, like in nanotechnology for example.
It's ironic - and also fallacious - that Trump refers to the Democrat's economic policies as "from the past", while his entire program is a throwback to Reagan, and a continuation of the supply-side, "trickle down" economics that are directly responsible for our stagnant economy. His plan is the exact opposite of what is needed: businesses aren't investing because consumers - i.e. workers - aren't spending as much as they used to when they had secure jobs that paid a living wage. Instead of cutting taxes, we should be raising them, specifically on capital gains and short term profit taking, and cutting them on long term, DOMESTIC, investment. Instead of worrying about the deficit - which is still smaller as a percentage of GDP than we had at the end of WWII, we ought to be using the low interest rates to invest in long overdue infrastructure projects. Instead of simply scrapping trade deals - we need to revisit and revise them in our favor - we need to look at undoing the associated policies and changes that went hand in hand with them: encouraging offshoring of manufacturing, and low import taxes, fees, and tariffs, that made it impossible for American workers to compete. but allowed Corporate America, Wall St., and multinational companies to make obscene profits at the expense of workers - of all nations - and without regard to the damage done to our economy. This is Trump's "solution"? If you think so, he's got a casino to sell you.
6
Conservatives correctly point out that U.S. corporate tax rates are among the highest in the world, but they don’t tell the rest of the story. There are so many loopholes that 26 firms, among the Citigroup and AT&T, paid more to their CEO alone than they paid in corporate taxes in 2011. In fact, our corporate tax revenue, 1.8 percent of GNP, is tied with Turkey for the lowest in the developed world. If libertarian models are correct, our current corporate tax structure manages to achieve the worst of all possible worlds: the least revenue and the most economic distortion from attempts to dodge it. We need to lower the nominal rate, but also to devise policies that assure it is actually paid. For starters, restore the old rule on offshoring that requires any corporation with less than 50 percent foreign ownership to be taxed as American.
484
Um, except that its NOT correct! Looking at statutory tax rates, before loopholes, special deals, etc, shows the US is nowhere near the most burdensome for corporate taxation. This is something easily verified.
Historian - very accurate and bright I believe.
Yes, thank you! They quote NOMINAL rates, not effective rates, and rarely discuss subsidies or loopholes. Hogwash.
1
May I offer my modest critique of The Donald's non-event address?
I have my graduate degree from the Wharton School. I spent nearly forty-years of my career capitalizing community-focused economic development. I spent two full-terms as a branch director of the Federal Reserve System.
I think it's fair to say I know something about macro-economics and economic development.
The Donald's proposals are incredibly ignorant and only cemented my conviction that the man is as dumb as a box of rocks. If he hadn't inherited the fortune he squandered, he'd be selling used cars in Yonkers.
As a graduate assistant I taught in the undergraduate Wharton program where he supposedly got ever so smart; if he had advanced these arguments in my class, I'd have given him an F.
Seventy percent of our economy is consumer expenditure driven. Tax cuts do not spur investment if corporate tax rates are low and loopholes easy to access. Why bother to invest? The whole idea of estate tax elimination is ludicrously irrelevant to 99% of Americans.
The key to a robust economic recovery is well-paying jobs and the consumer spending they will create via the multiplier effect (dollars get spent in additional consumption). The best way to create well paying jobs today is to invest in infrastructure development and clean energy. Interest rates are at historic lows and long term debt at low rates represent a once in a lifetime opportunity.The 1% needs to pay their fair share.
Mister Trump, write it again.
I have my graduate degree from the Wharton School. I spent nearly forty-years of my career capitalizing community-focused economic development. I spent two full-terms as a branch director of the Federal Reserve System.
I think it's fair to say I know something about macro-economics and economic development.
The Donald's proposals are incredibly ignorant and only cemented my conviction that the man is as dumb as a box of rocks. If he hadn't inherited the fortune he squandered, he'd be selling used cars in Yonkers.
As a graduate assistant I taught in the undergraduate Wharton program where he supposedly got ever so smart; if he had advanced these arguments in my class, I'd have given him an F.
Seventy percent of our economy is consumer expenditure driven. Tax cuts do not spur investment if corporate tax rates are low and loopholes easy to access. Why bother to invest? The whole idea of estate tax elimination is ludicrously irrelevant to 99% of Americans.
The key to a robust economic recovery is well-paying jobs and the consumer spending they will create via the multiplier effect (dollars get spent in additional consumption). The best way to create well paying jobs today is to invest in infrastructure development and clean energy. Interest rates are at historic lows and long term debt at low rates represent a once in a lifetime opportunity.The 1% needs to pay their fair share.
Mister Trump, write it again.
9
Great ideas. Look at how well they worked in Kansas.
8
This is the same trickle-down economic theory that the Republicans have been peddling since Regan. And during that same period there has been a massive transfer of wealth from the middle class to the rich, a shrinking middle class, and stagnant wages. The rich have gotten richer and the poor poorer.
Additionally, Trump's modus operandus has been to transfer all the financial risk to others while taking the profits for himself. There is a reason that he is blackballed by US banks and they refuse to loan money to him. And Trump has suggested that the US default on it's debt, which would result in a worldwide financial collapse.
Between his erratic behavior, ignorance of foreign policy, admiration for dictators, his insulting our NATO allies, and eagerness to drop nuclear weapons on other countries, this man is clear and present danger to the US and the majority other countries in the world. I fear for this nation if he were ever elected to the office of President and had his finger near the nuclear button.
Additionally, Trump's modus operandus has been to transfer all the financial risk to others while taking the profits for himself. There is a reason that he is blackballed by US banks and they refuse to loan money to him. And Trump has suggested that the US default on it's debt, which would result in a worldwide financial collapse.
Between his erratic behavior, ignorance of foreign policy, admiration for dictators, his insulting our NATO allies, and eagerness to drop nuclear weapons on other countries, this man is clear and present danger to the US and the majority other countries in the world. I fear for this nation if he were ever elected to the office of President and had his finger near the nuclear button.
6
Supply side economics have been discredited so many times over the years that the term should not even be in our lexicon much less be considered as any part of anyone's economic plan.
7
Removing the estate tax? That will only benefit people families who have more than $10.9 million. Making child care tax deductible? That will mostly benefit people who can itemize a lot of expenses and who have a lot of money to spend on childcare, and who make enough money to be in a very high tax bracket.
So Donald Trump courts uneducated working class people, while supporting policies that benefit only the rich. That seems to be the old GOP game we have seen for decades, nothing new or anti-establishment here.
So Donald Trump courts uneducated working class people, while supporting policies that benefit only the rich. That seems to be the old GOP game we have seen for decades, nothing new or anti-establishment here.
4
Did you write this editorial before or after his talk?
1
For over a year, I have heard Trump preach to his followers that he is looking out for their interests.
Now that Trump has finally revealed the details of his economic plan, it is obvious that Eliminating the Estate Tax is another standard Bait and Switch Republican tactic. Elimination of the Estate Tax helps the upper part of the Top 1% without any impact on helping the average middle class taxpayer.
As Trump gradually reveals more details of his economic plans, Trump demonstrates he is just another politician bowing to the demands of special interests, the rich and powerful. More tax cuts for the rich and Trickle Down Economics hasn’t worked before and certainly won’t work to boost the economy or bring jobs back to the US.
If Trump supporters can’t see this deception now, they will be devastated by a “President” Trump later.
Now that Trump has finally revealed the details of his economic plan, it is obvious that Eliminating the Estate Tax is another standard Bait and Switch Republican tactic. Elimination of the Estate Tax helps the upper part of the Top 1% without any impact on helping the average middle class taxpayer.
As Trump gradually reveals more details of his economic plans, Trump demonstrates he is just another politician bowing to the demands of special interests, the rich and powerful. More tax cuts for the rich and Trickle Down Economics hasn’t worked before and certainly won’t work to boost the economy or bring jobs back to the US.
If Trump supporters can’t see this deception now, they will be devastated by a “President” Trump later.
433
The estate tax also produces only 1% of government revenues. This populist stance makes little difference in the whole scheme of things.
Why should we pay taxes on money we have already paid taxes on it is just wrong.
Don't wait for the details of his plan: there are none.
Guess Trump has delivered a plan as proposed by his 'how can we fleece america' economic committee.
The only saving grace is, knowing Trump, if he were to become president,
he is going to do on a given day go with GUT feeling which will basically dependent on whether he ate Kentucky Fried chicken, Big Mac, or something from Burger King, essentially he is going to throw up some junk.
And, complain about his own problems: with Media, Melania, or whatever other trivial pique of his for the moment.
The only saving grace is, knowing Trump, if he were to become president,
he is going to do on a given day go with GUT feeling which will basically dependent on whether he ate Kentucky Fried chicken, Big Mac, or something from Burger King, essentially he is going to throw up some junk.
And, complain about his own problems: with Media, Melania, or whatever other trivial pique of his for the moment.
6
I think he actually raised taxes for the poor today. His original plan was the lowest tax bracket would be 10%, but in his speech today he raised it to the Republican plan to have it 12%.
He raised taxes for the poor. Mr. Richie Rich.
He raised taxes for the poor. Mr. Richie Rich.
18
Eliminating the estate/death tax please. The truly wealthy never pay this anyway through shrewd estate planning. Jackie Kennedy Onassis left a $400 million estate and did not pay a dime, through the use of Trusts. The only people who pay it are people who are over the $10 million married cap and are too cheap and dumb to plan properly. Any person who is taking economic advice from Steve Moore will not get my vote.
9
Wrong to call people who pay inheritance tax cheap and dumb. Some of them are patriotic citizens who also don't think their children need to have piles of money they didn't earn themselves. Lots of people think those who avoid inheritance taxes on their great wealth are cheap, greedy and unpatriotic. .
1
Ignoring climate change, if Trump were to be elected, would be a mistake of colossal proportions. History would prove it to be the most encompassing and damaging decision of the 21st century. We just cannot afford to keep kicking the can down the road, we MUST address this issue. Economies do not matter to the natural order of things.
We all knew that Trumps economic policy would be a joke and full of great gifts for the wealthy, so no surprises there. One tax cut after another to benefit, for the most part, people who are already riding high on the wave.
I did not hear the speech, but, was there any mention as to the infrastructure? How about helping manufacturing with loans to retool and incentives to encourage new ideas? Are we even going to attempt to bring the automotive companies back to America?
All the empty promises and shifting more wealth to the top 10% amounts to the real "more of the same" he accuses Mrs. Clinton being party to. It sure would be nice to have a few more honest politicians around.
I really wish President Obama could stick around.
We all knew that Trumps economic policy would be a joke and full of great gifts for the wealthy, so no surprises there. One tax cut after another to benefit, for the most part, people who are already riding high on the wave.
I did not hear the speech, but, was there any mention as to the infrastructure? How about helping manufacturing with loans to retool and incentives to encourage new ideas? Are we even going to attempt to bring the automotive companies back to America?
All the empty promises and shifting more wealth to the top 10% amounts to the real "more of the same" he accuses Mrs. Clinton being party to. It sure would be nice to have a few more honest politicians around.
I really wish President Obama could stick around.
9
All this is is "Trickle Down Economics", the tired old Republican lie.
Take note of the word, "Trickle", because it only trickles down after the rich bled the nation.
Take note of the word, "Trickle", because it only trickles down after the rich bled the nation.
12
Actually, it's supply side economics. It gives money to employers in order to create jobs. It is opposed by Democrats who favor giving money to the poor to create jobs. FDR created jobs to create jobs. Nobody does that anymore.
Step right up, step right up ladies and gentlemen. Witness the amazing properties of Dr. Donald's magical elixir. For just pennies on the dollar you can receive the benefits of my economic wisdom. Don't like your job at the factory, drink this and your troubles are over. Dr. Donald's magical elixir will cure unemployment, keep the dark thoughts and the dark people at bay, bring back the coal mines and bad air at the same time . My elixir will give you the strength to build my walls single handedly. The magical ingredients will help you with women like my daughter and if she doesn't appreciate your advances, tell her to get another job. Whatever ails you my potion, and my potion alone, will bring you out of your depression without ever asking you to leave your FOX news bubble. Problems with the wife, leave her for the second of three wives. Money problems? Drink this stuff, then file for bankruptcy and soon you can afford the checkered suit, straw hat and the cane I'm sporting right now. Don't be afraid, don't be shy and don't be politically correct. Buy now and I'll throw in a degree from the prestigious Trump University at no extra charge as a gift from me to you. Use it as wrapping paper, it's that valuable. With it's seven ingredients of racism, bigotry, misogyny, xenophobia, religious intolerance, stupidity and cupidity, you'll be yelling at Gold Star parents in no time. Act now, because if you take the time to run the numbers, you'll just get confused.
28
All stripes of Americans have been neglectful to willfully disengaged in both climate horror and criminal inequality. So, we are where we are. The rich have such control that if one talks of raising taxes on the rich, they're effectively demonized as a socialist. We're so dumb when it comes to basic economics and the destruction that over-concentration of wealth inevitably creates. We are poisoned by billionaires; which, of course, necessitate great expanses of poverty (only so big, this pie we have). Trump is our creation. We the People have created him. We have embraced selfish greed and planetary destruction. We don't fight hard enough for what is right. Our bad; complicit in the scheme of things. Someday, somehow, may compassion rule this sacred place, so abused.
5
Let's see.....Psycho Don is promising to rebuild steel mills. Federal money? Suspending national air quality rules? Environmental rules? What about state rules?
Eliminating the Estate Tax: increase jobs? Cut the deficit? Benefits to the middle class?
Eliminating the Carry Over Under Sideways Down loophole that allows Hedgies to pay 15%.
But decrease corporate tax rates to 15%.....creating jobs? Increasing revenue? Cutting the deficit?
Suspend all regulations? Health, safety, environmental, banking, whatever? A blanket cessation? Really?
Tax cuts that accrue to largess to the wealthy? creating jobs?
Nanny Tax deduction.......
The man speaks only bovine excrement.....
Eliminating the Estate Tax: increase jobs? Cut the deficit? Benefits to the middle class?
Eliminating the Carry Over Under Sideways Down loophole that allows Hedgies to pay 15%.
But decrease corporate tax rates to 15%.....creating jobs? Increasing revenue? Cutting the deficit?
Suspend all regulations? Health, safety, environmental, banking, whatever? A blanket cessation? Really?
Tax cuts that accrue to largess to the wealthy? creating jobs?
Nanny Tax deduction.......
The man speaks only bovine excrement.....
9
Trump's statement that he will rebuild steel mills makes no sense. Given that there is a world glut of steel, and that, should steel prices rise, China can always dump its stocks, the U.S. steel industry has no reason to build more steel mills.
I saw the recent video in which Paul Krugman (thank goodness for Paul Krugman) and Trump's economic advisor, Stephen Moore, were debating. This "plan" is clearly the product guys like Moore and a bunch of other Steve's, who indulge themselves with this hollow, Reagan-fixated, trickle down, dynamic scoring, supply-side fantasy. Of course, Trump was just reading the script--he has no concept of what these "plans" really mean. But what of his "advisors"? When will these people ever learn? As Dr. Krugman, among others, have pointed out repeatedly, there is no evidence that cutting taxes really raises all boats and provides general growth and opportunity to everyone. Instead, the rich get richer, the poor stay poor and the economy fails to grow. Trump's nonsensical plan is made all the worse by his stated intent to reverse efforts to deal with climate change, further invest in fossil fuels, start a trade war and empower corporations to run amok in a country free of pesky regulations.
It is astonishing to me that the Republican Party simply has no ideas. I hear talk of "conservative solutions" but damned if I ever hear anything that seems plausible or benefits the many rather than the few. I know, I know: conservatives now disassociate themselves from Trump. But , whether it's healthcare, fiscal policy, immigration reform--you name it--the GOP's policy prescriptions are simply repackaged, recycled, unrealistic, old ideas which help only the one-percenters. No thanks.
It is astonishing to me that the Republican Party simply has no ideas. I hear talk of "conservative solutions" but damned if I ever hear anything that seems plausible or benefits the many rather than the few. I know, I know: conservatives now disassociate themselves from Trump. But , whether it's healthcare, fiscal policy, immigration reform--you name it--the GOP's policy prescriptions are simply repackaged, recycled, unrealistic, old ideas which help only the one-percenters. No thanks.
7
"Make America Broke Again" . Haven't we already heard that tune again?
6
The only think Mr Trump excels at are driving his companies into bankruptcy. Why would anyone believe he has a clue at the US and world economies?
8
He wants to follow failed policy of trickle down economics which has made us miserable and debt ridden for last 30 years. NO WAY Mr. GOP on steroids.
He wants to isolate us from the world. NO WAY Mr GOP(Putin).
Just go away for once..
He wants to isolate us from the world. NO WAY Mr GOP(Putin).
Just go away for once..
6
Sure these proposals are "misguided and risky," but one doubts that the Dumpster is committed to them. Hillary put it succinctly today: six guys named Steve wrote a policy for him and the Dumpster read it. His "ownership" of the policy is dubious. My suspicion is his advisors lured him into reading it by putting in a lot of nasty, belittling comments about Hillary's age. But if he actually got into the White House, which may be looking less likely but yet remains a possibility, what economic policies the Dumpster would pursue is up in the air. These benighted proposals may or may not matter to him.
Boris Karloff called the dialogue to his movies the "jokes." For the Dumpster, his policy statements are the "jokes." They mean nothing. They are meaningless to the most meaningless candidate nominated by a major party for president in this nation's history.
Boris Karloff called the dialogue to his movies the "jokes." For the Dumpster, his policy statements are the "jokes." They mean nothing. They are meaningless to the most meaningless candidate nominated by a major party for president in this nation's history.
4
Change, merely for the sake of, is not enough. I understand, as a jaded conservative, that the powers that be are not enough--and that new blood is necessary, enough rolling die with horrible chances. But I'm not betting on snake eyes. Unfortunately, Trump is change, but not the change any of us conservatives can get behind. Begrudgingly, I will vote for Hillary because utmost--Country Firsts.
3
What a mental midget touting the same old Republican business wants from the past decades. Trump reminds me of a used car salesman. The last one I talked to told me I could use a credit card to buy a car....................
I walked away.
I walked away.
8
Trump is just using this POTUS election cycle to promote his brand. He cares nothing about public service, and is as intellectually removed from civic life as one can be.
Say what you want about Pelosi, but, unlike Boehner and Ryan, she knew how to keep her House in order and protect the Democrats from being consumed by their own petard.
Say what you want about Pelosi, but, unlike Boehner and Ryan, she knew how to keep her House in order and protect the Democrats from being consumed by their own petard.
3
I am sick and tired of Trump's illogical, ignorant blathering. It boggles the mind that allegedly educated people have fallen in behind this bloviating, bullying demogogue who in spite of himself cannot hide the fact that the only thing that matters to him is Trump. Not the United States, not its citizens. He may proclaim himself a businessman, but he would have been a nobody had he not started out with daddy's millions.
8
Trump failed miserably in the casino business where the house is guaranteed to always win. One can only imagine the colossal failure he would be in the White House where there are no guarantees.
11
Thank you for a concise, coherent dismantling of Mr. Trump's economic "plan." Of course, this will mean nothing to his ardent followers who live in a grossly simple world, informed by slogans that would fit on a bumper sticker with enough room left over for a tacky graphic or two.
The rest of us will offer another heavy sigh and eye roll, knowing that discussing any of this with his fans is like, as my dad likes to say, "arguing with a fence post." To be fair, the fence post has fewer economic fantasies and serves a solid, particular purpose.
The rest of us will offer another heavy sigh and eye roll, knowing that discussing any of this with his fans is like, as my dad likes to say, "arguing with a fence post." To be fair, the fence post has fewer economic fantasies and serves a solid, particular purpose.
6
Make America White Again!
TRUMP: Bringing you the best of 1920's Coolidge Era Segregation and GW Bush Era Tax levels on the rich.
Every White Person gets what they really want.
TRUMP: Bringing you the best of 1920's Coolidge Era Segregation and GW Bush Era Tax levels on the rich.
Every White Person gets what they really want.
5
There is one point on which I disagree with this Editorial: Deficits.
The article rightly notes that Trump's plans would vastly increase deficits.
But does anyone remember 2009?
Obama wanted a huge, huge stimulus to combat the contraction in the economy. Most progressives were in favor of a huge stimulus. (Stimulus is a polite term for deficit) In any event, the stimulus package that was enacted was shrunken, watered down and became almost as impotent as his presidency. Had he gotten a much bigger stimulus package, the economy would be much better.
I should note that Trump's approach to creating a bigger deficit is all wrong. He says we should lower taxes dramatically. This is what Michael Harrington called "reactionary Keynesian" policy. We should create deficits with good old fashioned big spending government programs. Give me that old time religion. If it was good enough for FDR, Harry Truman, and George Mc Govern, it's good enough for me.
The article rightly notes that Trump's plans would vastly increase deficits.
But does anyone remember 2009?
Obama wanted a huge, huge stimulus to combat the contraction in the economy. Most progressives were in favor of a huge stimulus. (Stimulus is a polite term for deficit) In any event, the stimulus package that was enacted was shrunken, watered down and became almost as impotent as his presidency. Had he gotten a much bigger stimulus package, the economy would be much better.
I should note that Trump's approach to creating a bigger deficit is all wrong. He says we should lower taxes dramatically. This is what Michael Harrington called "reactionary Keynesian" policy. We should create deficits with good old fashioned big spending government programs. Give me that old time religion. If it was good enough for FDR, Harry Truman, and George Mc Govern, it's good enough for me.
3
Trump gave in to the failed Republican orthodoxy of trickle down economics, thus waving goodbye to his claim of breaking with the old ways of doing things in Washington. His other policy plans outlined today (such as his promise to do away with trade agreements) can't disguise what's really going on within Trump's head. He's just another garden-variety billionaire looking for more tax breaks for himself.
8
So, Mr. Trump turns out to be the "Manchurian Candidate" afterall...of the GOP. He has a meeting with his Economic Advisors (aka "the Koch Babies") and it's full steam ahead with Reagan's theft of America. Critics of supply-side have failed for decades to enlighten the GOP base re voting against their own financial well-being....will you have any better luck now that this base consists of a "Trump Mob" that, in actual fact, is holding its hands over ears? Facts don't matter, Mr. Trump is perfect, everything he says is right and true.
7
I always thought that the real “energy revolution” would have come from the hot air emanating from Governor Christie's behind while he was dancing (yes, dancing) in the owners box of the Dallas Cowboys stadium (an archrival of the team that plays in his own state) during a memorable Cowboys game this past Fall when Christie thought he was on the way to the Republican nomination. After all, we are talking about gas here. So now Christie is out and its Trump that has to "assume the position" for the American/Saudi oil and gas interests that control the Republican party. This is one of those facts that lie far outside the bubble that people are in who think that Trump's policies ON ANYTHING would be any different than the typical horrible Republicans who run for office these days.
3
whats the problem? - then America just goes bankrupt - it will be wonderful - the best.
6
Trump speech today, run through Trump Interpretation Device:
-This is a speech where I am struggling to portray myself as serious, following a series of slurs, gaffes, improprieties, indiscretions, solecisms, indecorums, accusations, innuendos, put-downs, smears, affronts, assaults, animadversions, aspersions,deceptions, disinformation, distortions, evasions, full-out fabrications, falsehoods, fictions, and misrepresentations unequaled in modern American campaign history;
- I am reading this in the oratorical style of an 8th grade book report, interspersed with "totally"s and "believe me"s for authenticity;
-Every word of what I am saying--every word, believe me--is subject to immediate, moment-to-moment change, as demonstrated by my 30 year history of:
-Breaking contracts with workers, craftsmen, construction companies, & ex-wives;
-Denying statements, commitments, and unbreakable oaths that I have made only moments before;
-Stating that "reasonable deceit" is a fundamental principle of dealing with others;
-Leaving a trail of broken promises to laborers, casinos, condo buyers, government officials, and the U.S. public long enough to exceed the Great Wall of China--which I promise to replace with the largest, most impressive casino ever, and which will fail.
-None of this matters, as my ultimate goal, a nihilistic self-destruction similar to Charles Foster Kane's grasping despair over his Rosebud, is not known even to myself.
Thank you.
(Bows).
-This is a speech where I am struggling to portray myself as serious, following a series of slurs, gaffes, improprieties, indiscretions, solecisms, indecorums, accusations, innuendos, put-downs, smears, affronts, assaults, animadversions, aspersions,deceptions, disinformation, distortions, evasions, full-out fabrications, falsehoods, fictions, and misrepresentations unequaled in modern American campaign history;
- I am reading this in the oratorical style of an 8th grade book report, interspersed with "totally"s and "believe me"s for authenticity;
-Every word of what I am saying--every word, believe me--is subject to immediate, moment-to-moment change, as demonstrated by my 30 year history of:
-Breaking contracts with workers, craftsmen, construction companies, & ex-wives;
-Denying statements, commitments, and unbreakable oaths that I have made only moments before;
-Stating that "reasonable deceit" is a fundamental principle of dealing with others;
-Leaving a trail of broken promises to laborers, casinos, condo buyers, government officials, and the U.S. public long enough to exceed the Great Wall of China--which I promise to replace with the largest, most impressive casino ever, and which will fail.
-None of this matters, as my ultimate goal, a nihilistic self-destruction similar to Charles Foster Kane's grasping despair over his Rosebud, is not known even to myself.
Thank you.
(Bows).
12
and when does my pony and my ice cream arrive?
7
don't forget the free rides on the Ferris wheel.
More dangerous than his any one proposal, or his no-filter bigotry and unabashed ignorance, is his apparent conviction that "saying makes it so." It is a childlike pattern of thinking, which most of us outgrow. But normal maturation and separation may not take place in children who are over-indulged but left to the care of hired help expected to meet their every need.
This "character disorder" may decompensate later in life when material success proves evasive, when others grow tired of manipulation or when reality stubbornly refuses to accommodate our inclinations. We can anticipate more outbursts, more aggrieved ideation and - some of us pin our hopes on this - a total meltdown, in front of the largest possible media audience.
This "character disorder" may decompensate later in life when material success proves evasive, when others grow tired of manipulation or when reality stubbornly refuses to accommodate our inclinations. We can anticipate more outbursts, more aggrieved ideation and - some of us pin our hopes on this - a total meltdown, in front of the largest possible media audience.
3
I see a lot of irony in the fact that Trump is being encouraged to brand the GOP as the "worker's party". Then he gathers together a group of super rich financial advisors that come up with an economic plan with all the benefits going to the to the top 1%, financial institutions, and oil companies. At the same time the rest of the country goes to hell in a hand basket.
9
I'm trying to decide what part of his tax proposals is more galling: The regressive and useless child car credit (go Au Pairs!) or the repeal the estate tax. I'm going with the Eastern European nanny con.
7
This ridiculous economic horror show is how Trump goes about recovering from last week? Honestly - does he REALLY want the job?
6
I've never believed Trump actually wants to be president. I always figured he would consciously over time self-implode costing him the election which he seems to be doing or if he did happen to win he'd do what Howard Stern wanted to do if elected Governor of NY, pass one law and resign, bringing Trump the infamy he so craves. What better way to leave your mark on history...
2
I do not understand the position of the EB on the corporate taxes. Saying that cutting corporate taxes is bad because the effective tax rate is 18% completely misses the point. Having effective 18% rate means that firms waste their money on cutting taxes so by eliminating the incentive to do so would benefit the society.
Can we please stop promoting this myth that Donald Trump is a great businessman. The evidence does not support it from his many failed ventures. What he is in reality is a great promoter - someone who sells a vision of the future and relies upon others to deliver it. When it goes right he claims it was him, but in the many many cases where it doers not (Trump University/Steaks/Airlines/water/Taj Mahal etc. etc.) he claims it has nothing to do with him.
This is the approach he is taking with this economic plan. He is taking a hodge-podge of mostly discredited supply side economic ideas and combining them with "things that sound good" (like no "death taxes" that virtually none of us pay), and spinning them in to a mirage of this making "America great again".
There is no great idea here. NO consistency of approach or vision, just a sales job of tired ideas that have have been long discarded by anyone serious about addressing economic issues in a globalized, mechanized and digital world that requires collaboration much more than win/lose failed approaches from the past.
Trump is the sad old realtor still trying to sell you swamp land by telling you that "they aren't making land any more". This won't matter to the die hards, but hopefully the people with eyes and a brain will see it and him for what he is.
This is the approach he is taking with this economic plan. He is taking a hodge-podge of mostly discredited supply side economic ideas and combining them with "things that sound good" (like no "death taxes" that virtually none of us pay), and spinning them in to a mirage of this making "America great again".
There is no great idea here. NO consistency of approach or vision, just a sales job of tired ideas that have have been long discarded by anyone serious about addressing economic issues in a globalized, mechanized and digital world that requires collaboration much more than win/lose failed approaches from the past.
Trump is the sad old realtor still trying to sell you swamp land by telling you that "they aren't making land any more". This won't matter to the die hards, but hopefully the people with eyes and a brain will see it and him for what he is.
10
Yowsuh! Yowsuh! Step into the tent and listen to the Orange Oracle's guide to America First!
Jobs you say-tax cuts he says.
Climate change you say-Hoax he says.
Working people you say-estate tax he says.
Environment you say- burn more coal and regulation repeal he says.
Deficits you say-as far as the eye can see he says.
China you say-trade war he says.
Yowsuh! Yowsuh! A plan for the future. Step right in it!
Jobs you say-tax cuts he says.
Climate change you say-Hoax he says.
Working people you say-estate tax he says.
Environment you say- burn more coal and regulation repeal he says.
Deficits you say-as far as the eye can see he says.
China you say-trade war he says.
Yowsuh! Yowsuh! A plan for the future. Step right in it!
8
He has no real economic policy... this speech is the result of his hiring a number of wealthy investors or hedge fund managers so that Trump can "check off the box" of an economic policy.
Trump continues to be nothing more than a paper candidate, with no substance or governing direction - only a bumper sticker slogan.
Other than antagonizing people of color, women, handicapped, LGBT, veterans, non-Christian Americans, and many more, his biggest accomplishment has been to demonstrate to the rest of the world, our far our nation has fallen when someone as ill-prepared as he is can get to this level.
Trump continues to be nothing more than a paper candidate, with no substance or governing direction - only a bumper sticker slogan.
Other than antagonizing people of color, women, handicapped, LGBT, veterans, non-Christian Americans, and many more, his biggest accomplishment has been to demonstrate to the rest of the world, our far our nation has fallen when someone as ill-prepared as he is can get to this level.
9
Trump must live on a different planet bc the economic plan he proposed today has nothing to do with helping the middle class in the USA on this earth.
8
So basically what Donald Trump promises to do is impose the economics of Sam Brownback and turn the nation into Kansas. Because it's working so well in Kansas; a bankrupt state toying with the idea of abolishing its public education system. That Kansas. Right.....
16
No problem. All those women forced out of the workforce will be available to home school their children and save the taxpayers a bunch of money. Of course, if they don't have much education themselves, they won't have much to teach, but then the upper classes running the show will have a good excuse to cut wages even further, until those worthless undereducated people figure out how to use their bootstraps and train themselves!
LOL! Help "workers" by eliminating the estate tax, when the first $10 million (married couples) isn't taxed anyway.
Hear the sucking sounds funneling on up to the 0.01%, perpetuating dynasties like the Clintons and the Trumps?
Hear the sucking sounds funneling on up to the 0.01%, perpetuating dynasties like the Clintons and the Trumps?
6
Why bring up the Clintons? They never tried to repeal estate taxes. The people doing that are Trump, the RNC, and the Koch organizations.
What is becoming clearer and clearer is that the people that support Trump couldn’t care less about who he is or what he says, how little he can do for them or how politically dangerous he is. They are drawn to Trump as a symbol of their frustration born of propaganda, fear, disappointment and racism. Trump expertly exploits this rage as their standard bearer. They can't be bothered with the economic details in the prepared script he reads and does not understand any more than they do.
However, in the face of their certain knowledge about Donald Trump's instability and complete lack of qualification to be President and Commander-in-Chief, the Republican leadership has pledged to support Trump. Trump has made a laughing stock out of the electoral process. Trump is the Republican's golden boy now, not by choice, but by virtue of sheer political incompetence, greed and cowardice.
However, in the face of their certain knowledge about Donald Trump's instability and complete lack of qualification to be President and Commander-in-Chief, the Republican leadership has pledged to support Trump. Trump has made a laughing stock out of the electoral process. Trump is the Republican's golden boy now, not by choice, but by virtue of sheer political incompetence, greed and cowardice.
8
Under Reagan, the tax rate on capital gains was raised up to the level of taxes on regular income. Let's bring THAT back!
7
Dear NY Times editors,
The flaws in his economic plan need to be shouted on the first page!
Articles need to be written about how deregulating the car industry will cause a reversal in the auto safety record. How increasing the use of coal will increase asthma rates, increasing healthcare costs and decreasing life expectancy. How repealing the estate tax will only impact a few thousand families. How a tax deduction for child care expenses is regressive benefit.
Each of his proposals warrants its own full-length article, with experts rebutting the putative benefits and exposing the real harms.
The media has already let the Trump train ride unmolested for too long. Now is the time to step up and report real facts.
The flaws in his economic plan need to be shouted on the first page!
Articles need to be written about how deregulating the car industry will cause a reversal in the auto safety record. How increasing the use of coal will increase asthma rates, increasing healthcare costs and decreasing life expectancy. How repealing the estate tax will only impact a few thousand families. How a tax deduction for child care expenses is regressive benefit.
Each of his proposals warrants its own full-length article, with experts rebutting the putative benefits and exposing the real harms.
The media has already let the Trump train ride unmolested for too long. Now is the time to step up and report real facts.
12
Trump's first-day plans including ripping up existing trade agreements and putting a moratorium on any new regulations. Both are alarming. No one can honestly believe that tearing up paper will change the existing global economy, or that a symbolic act will revive lost jobs. And how can a President declare no new regulations without even seeing what they are or what the need would be. Today's speech in Detroit is more closed-minded Trump talk, highlighting how simplistic his thinking is, and how cynical he is to give false hopes to those suffering financially.
336
It's just more Republican voodoo economics that even George Bush was intelligent enough to see through. Too bad that your average Republican voter isn't that bright.
Trump wants to declare China to be a currency manipulator.
Apparently Clueless Don doesn’t realize that every country who has a central bank which manipulates interest rates, including ours, can be declared the same.
Apparently Clueless Don doesn’t realize that every country who has a central bank which manipulates interest rates, including ours, can be declared the same.
6
During Trump's speeches, including this one, he frequently makes the OK or zero (0) sign with his right hand, for some reason. It suggests to me his total lack of experience in government. Trump is a zero. He is clueless and it showed in this speech.
I think more and more voters are realizing that Donald Trump lacks the experience necessary to make wise decisions. It is scary to think he might really get to the White House.
The only thing we have to fear now is...Donald (0) Trump!
------------------------------------------------------------------------
I think more and more voters are realizing that Donald Trump lacks the experience necessary to make wise decisions. It is scary to think he might really get to the White House.
The only thing we have to fear now is...Donald (0) Trump!
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6
The Donald needs to stick to making more Trump Towers and leave the rest of the United States alone......including not being president.
His ideas are more insanity.
His ideas are more insanity.
7
The NY Times has become unhinged in their Trump coverage. Why don't they just put a Hillary sign above the masthead!
1
New daily ritual: On the subway, I look around the car and choose someone whom in all likelihood would be a better President than Donald Trump. What I do fail to understand is how with all these thousand of hours of reporting, it seems impossible to get a handle on his business interests or what he is worth: he's running as a successful businessman, but is he? Why is this so hard to expose?
8
Trump Hotels and Casino Resorts, Inc.
His multiple business bankruptcies are difficult for you to comprehend? Or you just don't want to believe how he actually treats others?
His multiple business bankruptcies are difficult for you to comprehend? Or you just don't want to believe how he actually treats others?
A business exists to make a profit for its bosses. Mr. Trump wants to run the United States like a business, his business.
8
Instead of offering Republican 'fuzzy-math' tax platitudes, Trump should show us his own real taxes.
16
I do hope when Hillary gives her corresponding speech later this week, that the NYT "fact-checkers" also check her figures down to the 0.1% level, which they (rather humorously to me) did for Mr Trump (correcting his 5% UE rate to the 'factual' 4.9% rate). And not to forget to employ an unflattering headline.
3
Your main concern is "Trump will leave the country isolated from the world."
NYT is beating war drums for Hillary almost daily, and this article is just another one.
NYT is beating war drums for Hillary almost daily, and this article is just another one.
1
That is because the NYT realizes Hillary is sane and Trump is not. It's just that simple.
1
Trump is doing this for party unity. Now at last so many more republicans can endorse him.
4
This article really could've been edited down to just 4 words: "he's full of malarkey again".
10
Trump's entire economic plan is contingent on the economy growing at 5% or more per year for 8 years.
First of all, this is impossible and has never happened in the course of US economic history.
Second, the growth of the US economy relies on the growth of the global market. Right now, the United States is one of only a few growing economies in the world and has been for the last 6 years. That the US is growing is a testament to the strength of our nation and the wise decisions made by the President 7 years ago.
Finally, low growth rates have meant low inflation -- lower growth rates are more steady than higher "Boom and Bust" rates that are great for the rich (who can ride out a downturn and afford to pick up the pieces at bargain basement prices). As a small business owner and member of the middle class, give me slow and steady over boom and bust any day!
Mr. Trump's "economic plan" is a disaster. Too bad his voters think that gilded chairs and orange hair make him someone they can "trust" when he is, in fact, someone who couldn't care less about them.
First of all, this is impossible and has never happened in the course of US economic history.
Second, the growth of the US economy relies on the growth of the global market. Right now, the United States is one of only a few growing economies in the world and has been for the last 6 years. That the US is growing is a testament to the strength of our nation and the wise decisions made by the President 7 years ago.
Finally, low growth rates have meant low inflation -- lower growth rates are more steady than higher "Boom and Bust" rates that are great for the rich (who can ride out a downturn and afford to pick up the pieces at bargain basement prices). As a small business owner and member of the middle class, give me slow and steady over boom and bust any day!
Mr. Trump's "economic plan" is a disaster. Too bad his voters think that gilded chairs and orange hair make him someone they can "trust" when he is, in fact, someone who couldn't care less about them.
27
Making himself fortunes out of his business global reach he would deny the same to his countrymen by shutting all the opportunity windows opening out.
5
Ivanka either doesn't get the math either or she is as calculating as her old man.
17
Remember that by the next morning after her convention speech, she was marketing the $1000 dress she wore so that people could buy 'the look'.
1
What does she know about her father that she isn't telling us, and that if she told us his candidacy would implode?
1
Let me help Trump's math challenged supporters. Based on the accompanying NYT article, which only provided percentages, the household with $50,000 in annual income would receive a tax cut of 0.2% or $100 while a household earning $5 million would receive a break of $250,000. Sounds fair to me (NOT).
I listened to an older person once call a Congressional representative to "cancel the death tax". This was a completely misinformed position by a very hard working and frugal person of modest means, who had to reverse mortgage her home to make ends meet. What motivated this advocation for people with estates over $5 million?
That working people think the GOP in general and Trump in particular will look out for them is an utter and complete mystery to me.
That they persist in this support even when the GOP lays out their plans is incomprehensible.
I listened to an older person once call a Congressional representative to "cancel the death tax". This was a completely misinformed position by a very hard working and frugal person of modest means, who had to reverse mortgage her home to make ends meet. What motivated this advocation for people with estates over $5 million?
That working people think the GOP in general and Trump in particular will look out for them is an utter and complete mystery to me.
That they persist in this support even when the GOP lays out their plans is incomprehensible.
70
They will come to their senses soon enough.
Once (and if) he becomes president the country will go into an immediate recession.
Before his first anniversary they will have lost their jobs and their homes.
They won't be able to say they weren't forewarned.
Once (and if) he becomes president the country will go into an immediate recession.
Before his first anniversary they will have lost their jobs and their homes.
They won't be able to say they weren't forewarned.
1
Should we be surprised? A big tax cut for Ivanka, and cuts in the social safety net for the struggling families that voted for Donald in the primaries. Truly, classic TRUMP.
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come on now - its going to be great
1
Trump, his supporters and his critics all make their points with jingoes. One person spoke in complete sentences. He said he wasn't voting for Trump because he didn't like him. Why didn't I think of that?
1
This isn't Trump's economic plan. He doesn't have a plan for anything. This is nothing more than a last ditch effort to portray him as a real, traditional Republican. Trump based his campaign upon being an outsider, a populist that would stand up to the establishment. Well, the establishment is abandoning him in droves. Everyday more of them proclaim that they cannot support him. So what does his campaign do? They role out the old lines about lower taxes, smaller government, ad infinitum. Doesn't work, never has worked. This is just the music that the old guard wants to hear in an attempt to gain their support. It has done so much damage in Kansas that many proponents of it lost their primary election to moderates. So many in fact, that the legislature may now oppose Brownback.
This is way too little, way too late. Trump is the pied piper of hyper nationalism, race motivated isolationism, the othering of everything that isn't a white native born Christian, and that's just the mild stuff.
There is no need to argue that supply side suicide economics doesn't work because it doesn't work as proven by history. The believers will hold fast to their precious theory with their dying breath. This game plan is just another game. A game to get Trump elected and preserve Republican control over Congress. It's the only game they know.
This is way too little, way too late. Trump is the pied piper of hyper nationalism, race motivated isolationism, the othering of everything that isn't a white native born Christian, and that's just the mild stuff.
There is no need to argue that supply side suicide economics doesn't work because it doesn't work as proven by history. The believers will hold fast to their precious theory with their dying breath. This game plan is just another game. A game to get Trump elected and preserve Republican control over Congress. It's the only game they know.
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There's a new champion of Trickle-Down Fraud in town, and he's one of the best fraudsters in business - watch out for the right-wing wrecking ball, America !
Supply-side economics has been widely discredited as a feel-good ruse that produces billionaire welfare sprinkled with pennies from hell for everyone else.
'Supply' isn't the problem except to the extent that the supply of wages has been artificially collapsed by minimum wage suppressors.
Most US multinational companies don’t pay anywhere near the 35% "retail" income tax rate.
Multinational companies paid, on average, 12.6%, according to the GAO, by deliberately stashing piles of cash abroad.
Many US multinationals take such advantage of the current tax system that they are more competitive than their foreign rivals.
The real problem is collapsed wages and collapsed infrastructure that have conspired to collapse demand.
Bill Clinton raised taxes - the economy boomed and he balanced the budget.
George W. Bush cut taxes, exploded the deficit, played laissez faire Republican Russian roullette and murdered the American economy.
Barack Obama raised taxes, implemented the ACA, passed a stimulus, removed the USA economy from the Bush-Cheney respirator and added 15 million private sector jobs over the last 77 months.
Trickle-Down economics is a flag-waving, FOX-fueled, Limbaugh-driveled fraud.
Donald Trump's supply-side fraud would do nothing but result in yet another Trump bankruptcy filing, this time for the USA.
Supply-side economics has been widely discredited as a feel-good ruse that produces billionaire welfare sprinkled with pennies from hell for everyone else.
'Supply' isn't the problem except to the extent that the supply of wages has been artificially collapsed by minimum wage suppressors.
Most US multinational companies don’t pay anywhere near the 35% "retail" income tax rate.
Multinational companies paid, on average, 12.6%, according to the GAO, by deliberately stashing piles of cash abroad.
Many US multinationals take such advantage of the current tax system that they are more competitive than their foreign rivals.
The real problem is collapsed wages and collapsed infrastructure that have conspired to collapse demand.
Bill Clinton raised taxes - the economy boomed and he balanced the budget.
George W. Bush cut taxes, exploded the deficit, played laissez faire Republican Russian roullette and murdered the American economy.
Barack Obama raised taxes, implemented the ACA, passed a stimulus, removed the USA economy from the Bush-Cheney respirator and added 15 million private sector jobs over the last 77 months.
Trickle-Down economics is a flag-waving, FOX-fueled, Limbaugh-driveled fraud.
Donald Trump's supply-side fraud would do nothing but result in yet another Trump bankruptcy filing, this time for the USA.
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Wages aren't "supplied", and it certainly isn't government's or anyone else's job to supply them. Wages are - or should be- the product of a negotiation between employee and employer.
Raising the minimum wage is what artificially suppresses job growth and economic growth. Simple scenario: if you had no federal minimum wage you could have a hypothetical small business where someone hires two teenagers and pays them $5 per hour. When you have a minimum wage you can't have that.
Look at Brownback's success in Kansas with trickle down Wonderland. I think the smell of Toto permeates Mr Trumps economic proposals.
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Tax all kinds of income, not just what working people earn as wages.
The complexity of the tax codes is not the number of brackets, but the different categories of money, categories that most people never experience.
The complexity of the tax codes is not the number of brackets, but the different categories of money, categories that most people never experience.
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Yes, residential real estate profits, as well.
All of the people who supported Trump in the primaries thought he was going to make America great again - for them. He was going to turn everything around, put the GOP leadership on notice that angry white men weren't going to be pushed around anymore.
As one of Trump's peers from TV Land would say, "Surprise! Surprise! Surprise!"
Trump's economic plan is a rehash of the same old bilge water the GOP has been selling since Reagan - Tax Cuts for the Rich, with enough window dressing to make the mathematically challenged think they're getting a good deal. It's Paul Ryan's Ayn Rand Fantasy Economic Plan stamped with Trump's gilt-lettered brand. Did anyone think Trump was going to sit down and work out an economic plan? Heck no. He just takes someone else's product, puts his brand on it, and tells everyone it's his and it's classy.
They thought they were getting change, that Trump was going to fight for them. Trump never fought for anyone but himself. To him, everyone else is a chump. Tha art of his deal is to get others to invest, then he weasels out while the getting is good, leaving the chumps holding the bag.
As one of Trump's peers from TV Land would say, "Surprise! Surprise! Surprise!"
Trump's economic plan is a rehash of the same old bilge water the GOP has been selling since Reagan - Tax Cuts for the Rich, with enough window dressing to make the mathematically challenged think they're getting a good deal. It's Paul Ryan's Ayn Rand Fantasy Economic Plan stamped with Trump's gilt-lettered brand. Did anyone think Trump was going to sit down and work out an economic plan? Heck no. He just takes someone else's product, puts his brand on it, and tells everyone it's his and it's classy.
They thought they were getting change, that Trump was going to fight for them. Trump never fought for anyone but himself. To him, everyone else is a chump. Tha art of his deal is to get others to invest, then he weasels out while the getting is good, leaving the chumps holding the bag.
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What you are forgetting is that MILLIONS of people (not all of them white or male) had good, decent jobs under Reagan, under Bush 41 and even under Bush 43 -- and lost those jobs in the last few years.
Only clueless liberal elites (still secure in their academic or professional jobs, often with tenure) think that there are not still horrible repercussions from the economic meltdown.
Those phony jobs numbers don't tell you about a 50 year old worker, who used to have a good job with benefits, and now drives a cab for Uber and makes 60% less income and no health insurance or retirement plan. They just tell you "happy news" -- that worker has a "job".
But we know that isn't a real job, and that a huge segment of the country has lost income or stagnated, and is falling behind.
Only coastal elites in big urban centers think differently. But your time is coming. I am sharpening my pitchfork as I type this.
Only clueless liberal elites (still secure in their academic or professional jobs, often with tenure) think that there are not still horrible repercussions from the economic meltdown.
Those phony jobs numbers don't tell you about a 50 year old worker, who used to have a good job with benefits, and now drives a cab for Uber and makes 60% less income and no health insurance or retirement plan. They just tell you "happy news" -- that worker has a "job".
But we know that isn't a real job, and that a huge segment of the country has lost income or stagnated, and is falling behind.
Only coastal elites in big urban centers think differently. But your time is coming. I am sharpening my pitchfork as I type this.
1
I agree with all you say, except I think Gomer Pyle ("Surprise, surprise, surprise!") would consider it an insult to be called a "peer" of DJT.
2
This just in: Sen. Susan Collins announced that she's not going to be voting for The Tonsil. Hence, the entire rational wing of the Republican Party is now lined up against him.
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Have any idea what percent the "rational wing" comprises?
1
She might be the entire rational wing.
5
Liberal Republicans have wealthy, white, suburban supporters. Is the fact that wealthy white suburbanites don't support Trump a reason to dislike him or like him?
Bruce Bartlett in a Times column addressed the effects on revenues from the Bush tax cuts.
There is every reason to believe TRump's tax cuts would have the same effect.
http://economix.blogs.nytimes.com/2013/04/02/dynamic-scoring-once-again/....
Supporters of the tax cuts during the George W. Bush administration often state that since the aggregate dollar amount of federal revenue was higher in 2006 than it was in 2000, this is proof that the Bush tax cuts paid for themselves. (Revenue was well below its 2000 level from 2001 to 2005.)
This assertion is so ridiculous it hardly needs rebuttal, but since one still hears it, let me say that inflation raises nominal revenue and the economy generally grows over time whether taxes are cut or not. To observe that the nominal dollar amount of revenue is higher many years after a tax cut occurred tells us absolutely nothing about the revenue effects of that tax cut.
A better method would be to look at federal revenue as a share of gross domestic product. On this basis, the Bush tax cuts are still reducing federal revenue, which has yet to come close to where it was in 2000.
There is every reason to believe TRump's tax cuts would have the same effect.
http://economix.blogs.nytimes.com/2013/04/02/dynamic-scoring-once-again/....
Supporters of the tax cuts during the George W. Bush administration often state that since the aggregate dollar amount of federal revenue was higher in 2006 than it was in 2000, this is proof that the Bush tax cuts paid for themselves. (Revenue was well below its 2000 level from 2001 to 2005.)
This assertion is so ridiculous it hardly needs rebuttal, but since one still hears it, let me say that inflation raises nominal revenue and the economy generally grows over time whether taxes are cut or not. To observe that the nominal dollar amount of revenue is higher many years after a tax cut occurred tells us absolutely nothing about the revenue effects of that tax cut.
A better method would be to look at federal revenue as a share of gross domestic product. On this basis, the Bush tax cuts are still reducing federal revenue, which has yet to come close to where it was in 2000.
77
Dont forget the trillions for those wars that were never paid for with taxes
2
Will Trump supporters see this for the same old, same old, "cut taxes on the wealthy, let the benefits trickle down" plan Republicans have tried foisting on us for years? Or the same song, second verse, "privatize profits, socialize the costs," --the inevitable result of removing regulations. Or will they only hear "Create jobs!" and believe that? Fool me once. . .
I thought this was the year we were tired of bankrolling the 1 percent?
I thought this was the year we were tired of bankrolling the 1 percent?
503
As economic thinkers go, Donald Trump is the ultimate lightweight.
There is an argument to be made for lower corporate rates on economic activity originating in America, utilizing naturalized American workers who are paid a living wage. But even this argument requires these tax cuts be fully paid for by higher personal tax taxes, particularly on the individuals who profit most from corporate activities, via stratospheric salaries, stock options, capital gains, etc.
Trump did not make that argument today. Trump merely offered a rehash of the usual voodoo economics, this time with a side of irresponsible nativism.
According to respected experts, the Trump tax plan would increase our national debt by roughly ten trillion dollars over ten years, and only further exacerbate the problem of income inequality.
Donald Trump is not a serious person, and should in no way be taken seriously by any American who claims to love their country.
Do not let Donald Trump do for this nation what he did for his casino businesses in Atlantic City. He clearly cannot help himself - but you can help your country by keeping this train wreck of a businessman out of the White House.
There is an argument to be made for lower corporate rates on economic activity originating in America, utilizing naturalized American workers who are paid a living wage. But even this argument requires these tax cuts be fully paid for by higher personal tax taxes, particularly on the individuals who profit most from corporate activities, via stratospheric salaries, stock options, capital gains, etc.
Trump did not make that argument today. Trump merely offered a rehash of the usual voodoo economics, this time with a side of irresponsible nativism.
According to respected experts, the Trump tax plan would increase our national debt by roughly ten trillion dollars over ten years, and only further exacerbate the problem of income inequality.
Donald Trump is not a serious person, and should in no way be taken seriously by any American who claims to love their country.
Do not let Donald Trump do for this nation what he did for his casino businesses in Atlantic City. He clearly cannot help himself - but you can help your country by keeping this train wreck of a businessman out of the White House.
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My editing blunders continue...
The 2nd sentence in my 2nd paragraph should read:
"But even this argument requires that these tax cuts be fully paid for higher personal tax rates, particularly on the individuals who profit most from corporate activity..."
The 2nd sentence in my 2nd paragraph should read:
"But even this argument requires that these tax cuts be fully paid for higher personal tax rates, particularly on the individuals who profit most from corporate activity..."
11
There is no argument for lowering tax rates as nobody pays them. In facts some companies pay zero and RECEIVE billions in corporate welfare every year. So there is not incentive at all to bring back those profits from offshore because what is better than zero or negative zero. When it comes to real small businesses. I heard a seminar and none of the small businesses said that the tax rate was very high at all on their list of problems for running a business. In fact they said that the tax rate incentivized them to reinvest in their companies and in their hiring in order to reduce them
1
Except for the invective against trade, this was standard Republican fare. If it should be rejected, so should Paul Ryan's very serious Better Way.
The problem with international trade is that it brings benefits, but it hurts some people and their communities. Trump's base includes a lot of people who have been hurt and others who feel threatened. Helping those people would be preferable to erecting barriers to trade.
The problem with international trade is that it brings benefits, but it hurts some people and their communities. Trump's base includes a lot of people who have been hurt and others who feel threatened. Helping those people would be preferable to erecting barriers to trade.
This speech was targeted at the people who do not have the temperament or intellectual curiosity to pursue details.
1. More Jobs
2. Beat the Chinese
3. Make America Great Again
There are way too many Americans who think that makes sense.
1. More Jobs
2. Beat the Chinese
3. Make America Great Again
There are way too many Americans who think that makes sense.
169
Actually, the Detroit Economic Club is business leaders, mostly of the auto industry and related parts industries.
This stuff was well aimed at them. That does not endorse such ideas, but it is the correct target audience for them.
This stuff was well aimed at them. That does not endorse such ideas, but it is the correct target audience for them.
9
Yes and the Detroit economy is definitely Trumps model for the rest of the economy.l
1
The beauty of American democracy is that everyone has the right to vote for the candidate of their choice. Campaign slogans such as "Make America Great Again" like any other advertising slogan, they simplify the message to one that voters can identify with. What is the alternative? Make America WORSE, again? What's the alternative to "Beat the Chinese?" Get beaten BY the Chinese, or should I say keep getting beaten by the Chinese? Or how about "More Jobs" what did you expect Trump or any other candidate to say FEWER jobs? Details? Details are between the President, the Congress, the Courts and the bureaucrats, as we all well know. No candidate, however prescient they may be can say with authority what their policies will be in detail before they take office. It is about the direction in a general way that voters are seeking from the candidates. Not "details."
Hillary represents an economy of theft and extraction and transfer from the poor to the rich. She is a representative of the global capitalist status quo; she is campaigning for a pro-business, pro-markets, essentially anti-working-class system. Of course I just love getting economic advice from a newspaper so badly managed that it is going broke.
18
You can't blame the Times for having been in the buggy whip business. They've handled the transition to digital better than most, I mean here we both are.
That's the system we've got. Read Lewis & Clark's Great White Father speech, the part about controlling trade. I don't believe corporations are people. I'm voting to keep the next Scalia off the Supreme Court, protect freedom of choice, and have a hope against corporate abuses there. You?
That's the system we've got. Read Lewis & Clark's Great White Father speech, the part about controlling trade. I don't believe corporations are people. I'm voting to keep the next Scalia off the Supreme Court, protect freedom of choice, and have a hope against corporate abuses there. You?
10
Sorry Michael, but of the two Trump would benefit the rich more and the average person less. Don't just believe the NY times, many actual billionaires have come out and said Trump's presidency would be disastrous for everyone, and the entire economy.
Also, maybe you don't understand this, but economic columnists do not actually run the NY times, and that paper's economic woes are far less bad than those of the average newspaper.
Also, maybe you don't understand this, but economic columnists do not actually run the NY times, and that paper's economic woes are far less bad than those of the average newspaper.
7
Ayn Rand and Fox News has that effect on some ill informed minds.
5
Donald Trump has gotten this far by turning his back on the Republican establishment. But with this plan for "economic renewal," along with his new coterie of advisers with Wall St. pedigrees, he's making no bones about cozying up to the establishment he once derided. Supply-side economics with a comb-over is still nothing more than voodoo economics, as GHW Bush famously dubbed it. All Trump needs to do now is to trot out Dick Cheney to tell us again how deficits don't matter, as Reagan taught us.
Like Marty McFly, Donald Trump just wants to get back to 1985. It was all so simple then.
Like Marty McFly, Donald Trump just wants to get back to 1985. It was all so simple then.
172
This speach was given to the Detroit Economic Club, not to an auto union gathering. It is a small elite gathering of very big business, mostly auto, and he told them exactly what they wanted to hear.
22
The Detroit Economic Club was the venue. The audience was national. This was an attempt to right a campaign that was coming off one of the worst weeks on modern political history. His message was meant to be heard far outside the room.
42
This speech was touted as Trump's big economic speech that was supposed to show he is a serious presidential candidate. It was shown on CNN, MSNBC, CSPAN, etc. It wasn't just aimed at the "a small elite gathering."
1
“America First” is not "isolationism."
That is the loaded political term applied by those who consider America last, the hawks who want wars, the neolibs who want one-sided trade.
Trump's idea of America First may be poorly done. Seems to be.
However, the alternative on offer is more of the same, exactly what has tanked us into this hole, with wars near everywhere and more threatening, and one-sided trade they mean to make worse for the sole benefit of a tiny donor class.
So we have a poorly done "plan" set against what has failed us, and what has failed hides behind false allegations of isolationism.
That is the loaded political term applied by those who consider America last, the hawks who want wars, the neolibs who want one-sided trade.
Trump's idea of America First may be poorly done. Seems to be.
However, the alternative on offer is more of the same, exactly what has tanked us into this hole, with wars near everywhere and more threatening, and one-sided trade they mean to make worse for the sole benefit of a tiny donor class.
So we have a poorly done "plan" set against what has failed us, and what has failed hides behind false allegations of isolationism.
17
No, our choice isn't "the way it has been," or the way Trump proposes. Let's try the sort of economic system Elizabeth Warren (and so many others) have suggested A fair but progressive tax structure with the benefits going to infrastructure projects we desperately need. A banking system that is "boring" again, and doesn't reward reckless behavior which (inevitably) ends up needing rescuing. Let's quit underwriting dirty energy, and start underwriting clean power for more jobs and a better chance at a future for our kids.
194
@Mark: I get that you're a Hillary-hater on the basis of your assumption that she's a militarist who will, at the very least, object to the idea that Czar Vladimir can feel free to bring eastern Europe and the Baltics back into Russia's orbit by force if necessary. Even so, to go ahead and become an apologist for Trump's domestic proposals suggests that you would happily join our friends in the Kremlin and watch in glee as the U.S. economy goes straight into the toilet. Shame.
145
paula -- Of course the Bernie and Warren ideas are much better. We can't have those. The DNC denied us those, even though they would have won. We can only choose between what has failed us, and what is new but spelled out by a whacko.
Stu -- You know better than to use that red-baiting argument. Yes, it is what Hillary says, but that is why I can't support her.
Stu -- You know better than to use that red-baiting argument. Yes, it is what Hillary says, but that is why I can't support her.
8
Oy vey! Trump regurgitates all the standard GOP tropes; lower taxes on the rich and less regulation (on the rich) THIS was the major economic speech? Seriously? Sure, let's deregulate and then die from toxins in the air. Great plan! It was in my city where (D) David Lawrence and (R) Richard Mellon came together to clear the air and build a great place to live. That decision still reverberates today. If only we had men and women, like that today!
308
Trump seems to think that anything he says, because HE, the Great One, says it, will strike awesome admiration in all of us. Unlike you, Trump, we're not stupid.
5
Both hyperbolic and vague, a rare double hit in the light nonsense category.
2
It seems that the Trump program was just a rehash of Republican talking points, as he read from the teleprompter. Its immediate effect would be to comfort the comfortable; its long term, with its implicit spending cuts would be to afflict the afflicted. One analysis would have the wealthiest receive both a greater percentage cut and a hugely bigger benefit in dollars.
If I had seen his elusive tax returns, I would know how much he and his family would benefit from his reforms. As I know that Trump is a liar, a charlatan, a conman, a fraud, a misogynist, and a bigot, as well a businessman who has hurt his creditors and contractors, I hardly need analysis to know that his presentation was deceitful.
If I had seen his elusive tax returns, I would know how much he and his family would benefit from his reforms. As I know that Trump is a liar, a charlatan, a conman, a fraud, a misogynist, and a bigot, as well a businessman who has hurt his creditors and contractors, I hardly need analysis to know that his presentation was deceitful.
754
Excellent point about his tax returns. It's obvious why he is passionate about the estate tax, but the specific numbers of what he and his family stand to gain are directly relevant to the question of who Trump is fighting for. If the press doesn't raise this point repeatedly in the next three months, then they're not asking all the right questions.
9
If Trump merely becomes a standard Republican politician, all of whom Republican voters have already rejected, there is no reason to vote for him. I am surprised he let himself be controlled like that. Loser. The Republican voters would be better off voting for Clinton and enjoying four more years of obstruction. Maybe for 2020 they can pick a sane maverick (what they thought they were getting with McCain until he picked Palin); too bad John Wayne is dead and Clint Eastwood is most of the way there.
The editors must have listened to a different speech than the one I heard.
Trump wants to cut taxes to spark an economic recovery, and specifically drop the corporate tax rate to 15%, which would make us hyper-competitive with ALL industrialized nations and likely would put an end to corporate inversions. Similarly, he wants to de-emphasize the excessive regulation we have imposed on our industry and commerce for the entirety of the Obama administration, that has cost us economic growth and middle-class jobs. Finally, he sympathizes with the arguments of labor that our trade arrangements are unbalanced to the favor of our trading partners while they damage our own vital interests.
He won't lose a single vote that was up for the taking for these positions, and may attract a ton of votes that without this speech might have gone to Mrs. Clinton.
Leave the country isolated from the world? In point of fact, no -- our corporate taxes are among the very highest in the industrialized world, make us uncompetitive and incentivize our companies to bolt; our regulation is stifling expansion and job-creation; and free trade policies have played their role, along with offshoring and automation, in hollowing-out our middle classes. And the rest of "the world" is hardly healthy -- their tax and regulatory frameworks have a great deal to do with their sorry state.
But I can understand the concern: whenever Trump talks sense rather than erupting over some sleight, his numbers go up.
Trump wants to cut taxes to spark an economic recovery, and specifically drop the corporate tax rate to 15%, which would make us hyper-competitive with ALL industrialized nations and likely would put an end to corporate inversions. Similarly, he wants to de-emphasize the excessive regulation we have imposed on our industry and commerce for the entirety of the Obama administration, that has cost us economic growth and middle-class jobs. Finally, he sympathizes with the arguments of labor that our trade arrangements are unbalanced to the favor of our trading partners while they damage our own vital interests.
He won't lose a single vote that was up for the taking for these positions, and may attract a ton of votes that without this speech might have gone to Mrs. Clinton.
Leave the country isolated from the world? In point of fact, no -- our corporate taxes are among the very highest in the industrialized world, make us uncompetitive and incentivize our companies to bolt; our regulation is stifling expansion and job-creation; and free trade policies have played their role, along with offshoring and automation, in hollowing-out our middle classes. And the rest of "the world" is hardly healthy -- their tax and regulatory frameworks have a great deal to do with their sorry state.
But I can understand the concern: whenever Trump talks sense rather than erupting over some sleight, his numbers go up.
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We can put an end to corporate inversions by changing the lobbyist-written tax law that created that option.
15% would be a higher tax rate than most pay now, if they actually paid the 15%.
Or does this mean they start at 15% and then layer on all the same reductions so they get to below zero?
This is further proof that the deficit matters to Republicans only when Democrats run things.
15% would be a higher tax rate than most pay now, if they actually paid the 15%.
Or does this mean they start at 15% and then layer on all the same reductions so they get to below zero?
This is further proof that the deficit matters to Republicans only when Democrats run things.
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Mr. Luettgen:
Please tell us which environmental and financial regulations you believe should be modified or abolished.
Do you believe it is necessary or desireable to have polluted air or water for economic growth.
Should we remove restrictions on banks using depositor money to gamble on risky ventures.
You know there was no Dodd-Frank law in place when the 2008 crisis occurred.
It was lack of regulation that caused the 2008 crisis and before that the
S & L crisis.
Had Bush and Greenspan heeded the warnings of Federal Reserve Governor, Gramlich, to crack down on sub prime mortgages the 2008 crisis could have been prevented.
Please tell us which environmental and financial regulations you believe should be modified or abolished.
Do you believe it is necessary or desireable to have polluted air or water for economic growth.
Should we remove restrictions on banks using depositor money to gamble on risky ventures.
You know there was no Dodd-Frank law in place when the 2008 crisis occurred.
It was lack of regulation that caused the 2008 crisis and before that the
S & L crisis.
Had Bush and Greenspan heeded the warnings of Federal Reserve Governor, Gramlich, to crack down on sub prime mortgages the 2008 crisis could have been prevented.
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@Richard: Gee, I don't recall you're ever being opposed to free trade when Willard was running for President. In any case, *Trump's agenda is very very good for CEOs and very very bad for the rest of us. Our corporate taxes probably ARE too high but we remain, all told, one of the most undertaxed societies in the industrialized world. I'd be in favor of cutting corporate taxes if income taxes on the affluent were raised to a point at which the wealthy would, in effect, be paying for the social services of the poor (with deductions applicable based on hiring and profit-sharing). That plus taxation of inheritances, capital gains and investment income being raised to the same level as taxes on earned income. And, while we're at it, a VAT on luxury items like expensive cars, boats, restaurant meals, furs for Melania and so on.
*It's actually Paul Ryan's agenda but we'll let The Donald and his admirers believe it's coming from him. If the Speaker doesn't care about who ends up getting the "credit," why should any of us?
*It's actually Paul Ryan's agenda but we'll let The Donald and his admirers believe it's coming from him. If the Speaker doesn't care about who ends up getting the "credit," why should any of us?
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It's even more amazing, watching the suckers throw adjectives and accusations at the wall (no, kids, neither Clinton nor Obama are socialists), apparently so they don't have to so much as see what the actual numbers say, and have said every time we've tried this nonsense.
What happens, chilluns, is that a few very wealthy financiers and pols make buckets of cash, the debt and deficit go through the roof, social programs like Medicare get hacked on, and folks like you get stiffed.
But by all means, prove me wrong. With real numbers and examples based on the actual planet, please.
When you get done with that hopeless chase, take a sec and explain why you guys keep falling for this particular football.