Donald Trump: A Threat to the U.S. Economy?
==========
Donald Trump won the election on November 5, 2024; his proposed economic policies could lead to severe economic challenges; Trump plans to extend the 2017 Tax Cut and Jobs Act, reduce corporate tax from 21% to 15%, and eliminate taxes on Social Security; Congressional Budget Office warned of unsustainable public debt, projecting a debt-to-GDP ratio exceeding 120% by 2034; Trump's tax cuts could add $7.75 trillion to national debt, raising debt-to-GDP ratio to 143% by 2035; Trump's tariffs include a 60% tariff on Chinese imports and 10-20% on others, potentially raising costs for households by $2,600 annually; his immigration policy could disrupt industries reliant on undocumented workers; concerns about bond vigilantes and dollar crisis loom if policies are enacted.
#Trump #Economy #Debt #TaxCuts #Tariffs #Immigration #PublicFinance #Cbo #Inflation #Trade
https://www.aei.org/op-eds/donald-trump-a-threat-to-the-u-s-economy/
American Enterprise Institute /
npub14z…4fwd3
2024-11-06 22:07:34
Author Public Key
npub14zq8m4ucx6nteqtxp2d3m8z3tqa2hkcwh4rm96lde0cx2cjwlh9s94fwd3Published at
2024-11-06 22:07:34Event JSON
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"content": "Donald Trump: A Threat to the U.S. Economy?\n==========\n\nDonald Trump won the election on November 5, 2024; his proposed economic policies could lead to severe economic challenges; Trump plans to extend the 2017 Tax Cut and Jobs Act, reduce corporate tax from 21% to 15%, and eliminate taxes on Social Security; Congressional Budget Office warned of unsustainable public debt, projecting a debt-to-GDP ratio exceeding 120% by 2034; Trump's tax cuts could add $7.75 trillion to national debt, raising debt-to-GDP ratio to 143% by 2035; Trump's tariffs include a 60% tariff on Chinese imports and 10-20% on others, potentially raising costs for households by $2,600 annually; his immigration policy could disrupt industries reliant on undocumented workers; concerns about bond vigilantes and dollar crisis loom if policies are enacted.\n\n#Trump #Economy #Debt #TaxCuts #Tariffs #Immigration #PublicFinance #Cbo #Inflation #Trade\n\nhttps://www.aei.org/op-eds/donald-trump-a-threat-to-the-u-s-economy/",
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