(C) Daily Kos This story was originally published by Daily Kos and is unaltered. . . . . . . . . . . Trumponomics [1] ['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.'] Date: 2024-11-08 Trumponomics Two thirds of Americans think the economy is bad, that the country is going in the wrong direction. Seventy five per cent have experienced hardship in the past year; 25% of that number experienced severe hardship. Trump won that severe segment by 50pts. This is all very curious and confounding since by all accepted metrics the US economy is in excellent shape, the best in the developed world. Inflation almost down to the FEDs 2% target. Excellent employment figures; at one point the lowest in 60 years and lowest Black unemployment in history. Very good GDP for a rich country: last quarter was 2.6%. Wages are rising faster than inflation. The stock markets are at record levels. And yet a lot of people are hurting. What is trump going to do to improve the lives of those people at the bottom who voted for him? The economy is already top-of-the-line, running full speed ahead, not much improvement possible there. Though inflation is down, prices remain high and they’re blamed on Biden. One reason for that is the constant hammering on the part of the corporate and right wing media of how terrible Biden is on the economy… in complete contradiction to reality. The primary reason, about 60%, for inflation is price gouging. Remember when eggs were $6 per dozen? At that time America’s largest egg producer saw a 700% jump in profits. Is trump going to go after his corporate buddies for ripping off the consumer? Hardly. The other most pressing problem is housing costs. That stems in large part from corporations buying up residential property and jacking up prices. Would he try to rein in those corporations? Not likely. The above are two proposals Harris made to help solve the problem. Well, what is he going to do? His first priority is to slap sixty percent tariffs on all goods from China, twenty per cent on all others. No matter how many times people try to explain the concept of tariffs to him, he just doesn’t get it. Exporting countries are not going to pay those tariffs. The importer pays those tariffs to the US Treasury and in almost all cases they will be forced to raise prices on those items… increasing inflation. trump says they’ll just have to build factories in America. Sure but American made will not be cheap, that’s why they’re now made in China. The other main reason for the original inflation was supply chain problems, a situation Biden inherited and did a very good job of solving. Still, prices haven’t retreated sufficiently from their high to mollify people who’re having a difficult time making ends meet. His other primary proposal is the mass deportation of illegals. Who’s going to work on the farms when they’ve all been sent home? Or the restaurant kitchens, meat packers or construction sites? There’s already very low unemployment, where are they going to find non immigrant people to do that work? If you could find staff in a very tight labor market, it’d undoubtedly cost you more. His programs will certainly raise the cost of living and a lot of people are going to have buyer’s remorse. A Democratic sweep would have bought back the child tax credit where parents would get a minimum $250 month for each child to help with raising kids. That type of help for little people is anathema to Republicans. They have no feeling or sympathy for people who’re having a hard time. trumpsters are now optimistically looking forward to all the great things he is going to do for them, but it won’t take long for the general angst and helplessness among the population to rise up again. Other Republican economic priorities have to do with easing regulations to allow more pollution, less pay for overtime, less protection from employer abuse, all good for trump’s big time buddies, no help whatever for those struggling to stay afloat. They applaud and abet the busting of unions… making it that much harder for workers to earn a fair wage. Musk, trump’s “Efficiency Czar” wants to cut $2 trillion from the budget, meaning devastating cuts to Medicaid, Medicare, Social Security, food stamps, FDA, OSHA and every program designed to help or protect the common people. Of course, number one in trump’s to do list is more tax breaks for billionaires, thus diverting even more of the country’s wealth towards the top and away from the working people. The American people went for trump and they’re going to pay for it. [END] --- [1] Url: https://dailykos.com/stories/2024/11/8/2284390/-Trumponomics?pm_campaign=front_page&pm_source=more_community&pm_medium=web Published and (C) by Daily Kos Content appears here under this condition or license: Site content may be used for any purpose without permission unless otherwise specified. via Magical.Fish Gopher News Feeds: gopher://magical.fish/1/feeds/news/dailykos/