Every 4 years the American public circles back to an age-old debate of whether Republicans or Democratic make more sense for the economy. This time around Republicans came out victorious and at the end of the week Donald Trump will be sworn in as the 43th President of the United States.
“Make America Great’ as he repeatedly chanted on the campaign trail is a combination pro business and protectionists policies that don’t necessarily fall in line with the Reganesque policies Republicans follow. In fact, some of Trump’s rhetoric, most notably devoting $1 trillion to a massive infrastructure plan, is consistent with Democratic ideologies that fiscal spending produces economic growth. That being said, Donald Trump still represents the Republican
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It’s essential that tax dollars are used to fund services indoctrinated by the Constitution, such as national security and basic infrastructure. The purpose of limited taxes and government spending further illuminate Republicans beliefs on the role of government.
On the campaign trail and now transitioning to President, Trump gave every indication that he intended to remain true to Republican tax principles. Besides broad cuts for the wealthy Americans, Trump’s proposed plan aims to reform corporate taxes, which would lower federal rates from 35% to 15%. On its own, slashing corporate tax rates should theoretically lead to a large sum of repatriated profits and greater investment. But portions of overall Trump’s agenda to increase domestic production over importing would end up wiping out the majority of the benefits.
The Global
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The size of the trade gap grew by 7% in November to $45.2 billion, marking the highly level in a year and a half. A majority it came from an increase in imported foreign oil while exports slipped largely due to a decline in commercial aircraft shipments. The republican platform remains committed to the principles of open markets and trade but only with better agreements. Fair trade agreements demand transparency, full disclosure and protection of our national sovereignty that many countries violated over the years.
The new administration plans to take a hardened stance on renegotiating America’s trade agreements with China, Mexico and Japan. Some of Trump’s protectionists policies include placing large tariffs on imports to limit job flight and reduce the trade deficit. Speaker Paul Ryan undermined many of these proposals, claiming Congress won’t raise traffics or pass a big border tax on companies fleeing the United States.
Final Take
If history has taught us anything, crucial metrics like GDP, job creation and the stock market tend to perform better with a Democrat in the White House than under a Republican. More importantly, left leaning policies support economic advancement and avoid recessions: nine of the last 10 recessions came under a Republican. But given Trump’s unorthodox approach and uncharacteristic cabinet of billionaires, the new administration can
On June 16, 2015 Donald Trump officially announced that he was running for president of the United States. With his solange being “ Make America Great Again”. Trump is a republican and is a supporter of the Republican Party. His political stand point is often not looked positively throughout society. A republican is someone who believes that every person is responsible for their own self within their surroundings. They are opposite of the democrat party. The democrats are basically the people who supported slavery oppose to the republicans who did not. Both sides have many different opinions on the government. From taxes, social issues, free trade and labor laws, health care, and etc. Trump 's vision for america is way different than our current president Barack Obama.
Donald Trump wants Mexico to pay for a wall at the border which will reduce crime and lower taxes. He wants an end to birthright citizenship and the mandatory detention of undocumented immigrants. He wants American workers to be put first.
President Donald Trump addresses the American people by assuring them that after many years of having the nation’s Capital (Washington D.C) controlling the people, the people are now in charge. The power that got taken away from the American public by previous administrators will be returned to them. He also speaks about a broken America and how he plans to repair it . He addresses issues from the education system, businesses, poverty and jobs. Additionally, he talks about how America has helped other foreign industries become richer, while the American industry has fallen apart. Because of that he believes that it is time to focus on America, “From this day forward, a new vision will govern our land. From this moment on, it’s going to be America first.” He wants America to be “great again” before
Trump knows how to make the best economical moves for the country because he has his own successful businesses. For example, he said that would bring the jobs back to Ohio and to America. He would not let that other companies move to other countries and cause unemployment in US. He said he would cut the taxes. Trump wants more consumers in the United States and around the globe to buy American. He mentions that he do not want to trade anymore with other countries. Specially he mentioned stopping China’s outrageous
Another benefit Trump believes citizens deserve is their full paycheck. Although taxes are necessary, he believes insuring Americans they receive what they earned will increase and strengthen work ethic. For this reason, he has formulated a system he calls the 1-5-10-15 income tax plan. His goal and purpose is to create clarity and fairness for all, cutting down the complication and disarray of the tax code. Another issue Trump has talked about is education. He believes common core is a disaster and should be immediately abolished. He believes education should be local, and chiseled for the youth of specific areas. Donald Trump’s ideas may come off as blunt and insincere, but he has established his success and many stand behind his judgment.
Three policies that I believe Trump is very set on changing are his stances on Immigration, trade, and health care. Heath care,I believe, is one of Mr. Trump’s most vocal and passionate issues. In countless of his speeches Trump has played out the problems with the current heath care plan, The Affordable Care Act, and stated his intentions to repeal it. This goes in line with trumps general goal to shrink the governments power in order to boost capitalism. Another point that Trump had been extremely adamant about
Trade policies are a particularly controversial area of debate between the two major party nominees, Secretary Hillary Clinton and Donald J. Trump. Mr. Trump believes that the country’s current trade policies need reform in order to keep jobs in the country, help the environment, and improve working conditions for people in all nations. In particular, Donald Trump lays out a seven point trade plan that he will enforce if he is elected. The first point of the plan is to withdraw from
America has made mistakes before, now the country plans out their economy’s future a little more. One of the top five largest economies in the world, the United States, promises for new laws regulating and decreasing in tax burdens in United States’ markets. Americans can expect to see a faster growth than previous years, and according to Forbes article The U.S. Economy In 2017: Welcome Higher Growth, “the U.S. economy will be a key driving force of other Western economies” (Chafuen 1). Especially now with the new president, Trump, he has already made the US more appealing and put a rise in stocks by electing certain cabinet members. This shows the world taking Trump 's approach seriously. The unemployment rate influences the economy. At
Economist are already predicting rapid growth in the U.S. just by the policies that President-elect Trump is proposing. I know for a fact that business here in Florida were just waiting for the election to be over so they would know whether to grow their businesses or not. Some have been gearing up to explode if Trump won and they are very pleased with the Presidential election and already have plans in place to expand their businesses. Of course there is some uncertainty about the trade policies of President-elect Trump and if that will hurt global growth and possibly cause higher prices. It is a delicate balance Trump will have to take in order to set off a Trade War with China. The Organization for Economic Cooperation and Development is predicting the U.S. economy will grow 2.3 percent in 2017 and 3 percent in 2018 based on Trumps “$500 billion on infrastructure, sharply revised personal and corporate tax conditions and deregulation in the private sector (Soergel, 2016)”. It will take some time for people to feel or see things getting better, as for me I can hardly
Republican candidate Donald Trump has proposed a new idea to help improve the American economy. Trump’s primary goal is to “Create a dynamic booming economy that will create 25 million new jobs over the next decade” (“Economy”). To accomplish his goal, Trump outlined a few different ideas that he believes will lead to America’s economic success. Trump believes “Increasing growth by 1.5 percent would result in 18 million jobs (1.5 times 1.2 million times 10 years) above the projected current law job figures of 7 million, producing a total of 25 million new jobs for the American economy” (“Fact Sheet: Donald J Trump’s Pro-Growth Economic Policy Will Create 25 Million Jobs”). Furthermore, Trump plans on giving low and middle class Americans a major tax cut, as well as lowering business tax to 15%. He also wants to
First, he wants to “appoint the toughest and smallest trade negotiators to fight on behalf of American workers.(Fernandez 1). Mr. Trump wants to understand and see where the American workers’ jobs are going. Furthermore, he wants to note why millions of Americans don’t have jobs and who are taking them away. To do that he has to first renegotiate NAFTA or get rid of it (Fernandez 2).What is NAFTA and what mess it is creating? Basically, a trade agreement between the USA, Mexico and Canada formed by Bill Clinton, and it has let many Americans without jobs because most of them have gone to Mexico. That is the main reason Donald J. Trump hates this agreement and how it has destroyed the United States economy to bits and pieces. Additionally, what makes Trump fierce is that China has been stealing American trade secrets for many years. He clearly stated, “If China does not stop its illegal activities, including its theft of American trade secrets, I will use every lawful presidential power to remedy trade disputes, including the application of tariffs consistent with Section 201 and 301 of the Trade Act of 1974 and Section 232 of the Trade Expansion Act of 1962” (Fernandez 3). Clearly, this shows that Trump is serious about his job and doesn’t care if he is dealing with China. China has been stealing all our trade secrets and Barack Obama didn’t do anything about it. In brief, this clearly shows that our future President has the characteristics and personality of a true leader that is ready for this great battle.
He is trying to enhance the border security by building a wall and having Mexico to pay for it, which the Mexican president responded to Trump “Mexico will not pay” (Peña Nieto). And also with his executive order banning immigrants from seven countries, such as, Iraq, Syria, Iran, Sudan, Libia,
George W. Bush left President Obama an unstable economy. It was a financial crisis caused by the excesses of the stock market. President Bush started the bailout, but most of the work was left for the Obama administration. Obama continued the Wall Street bailout, passed a massive stimulus package and rescued the automotive industry. This recent economic
Trump has a goal to make this as great as it could ever be he has the power and knowledge to do so considering that he has a lot more experience than Hillary Clinton. Trumps greatest saying of his in his presidential campaign is Make America Great Again, in his speech he has many ways to do so. His main way he proclaims is get all the money back that the other leaders have sent over to other countries back into our community. His plan to do this is to lower ordinary income taxes, corporate income tax reform, invest in the military. His plan to make the economy better puts us at a better risk to become more wealthy and to spend more money and make the money circulate and get to more people, therefore it would make us want to work more and earn more money to spend. By adding in this corporate income tax reform its plan is to lower the tax rate that is the highest in the world at a staggering 35% to 15%. At 15% it would be one of the lowest in the U.S. but some corporations would have a special 10%, this would put more money into the pockets of struggling Americans to give them a little relief if they are struggling to pay their bills. Another way he is going to put money back into the pockets of so many Americans is to renegotiate trade terms this will put more money into the pockets of many American by making the taxes to import/export the cars, toys and
However, this is not the case, for the average annual stock return with a Democratic president is 15.08% while only 7.88% for a Republican candidate. This isn’t to say that the Democratic party is better for the economy, and historically, the average stock market returns are highest when there is a Democratic President and Senate and a Republican House of Representatives. This could possibly be because both parties can keep each other in check and not let policies get too extreme on either end of the