An analyst looks ahead to how the US economy might fare under Trump
15 hours, 46 minutes ago

An analyst looks ahead to how the US economy might fare under Trump

Associated Press  

WASHINGTON — President-elect Donald Trump won a return to the White House in part by promising big changes in economic policy — more tax cuts, huge tariffs on imports, mass deportations of immigrants working in the United States illegally. In some ways, his victory marked a repudiation of President Joe Biden’s economic stewardship and a protest against inflation. A: There’s a lot to do on fiscal policy in terms of just extending the original Trump tax cuts, which are due to expire at the end of 2025. Q: What impact would you expect from Trump’s promised deportations?

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History of this topic

Trump was poised to inherit a strong economy. Then things got rocky and he added to the uncertainty
3 days, 17 hours ago

Trump was poised to inherit a strong economy. Then things got rocky and he added to the uncertainty

Associated Press  

▶ Follow live updates on federal funding negotiations as a government shutdown looms. Trump vowed on social media Wednesday to “fight ’till the end” unless Democrats agreed to lift the debt ceiling as a condition for the short-term funding to keep the federal government open. By Thursday, Trump was claiming on social media that a new deal reached among Republicans …

Trump isn’t president yet. He’s already spooking the Fed.
4 days, 18 hours ago

Trump isn’t president yet. He’s already spooking the Fed.

Live Mint  

The Federal Reserve can no longer deny that it is beginning to think about what Donald Trump will do as president. These showed that Fed policymakers’ median expectation is now for inflation, as measured by the core personal-consumption expenditures index, to come in at 2.5% next year, up from September’s projection of 2.2%. “It’s hard to justify trimming the number …

Trump’s tax cuts expire soon − study shows devastating effect they had on many
6 days, 9 hours ago

Trump’s tax cuts expire soon − study shows devastating effect they had on many

Raw Story  

By Beverly Moran, Professor Emerita of Law, Vanderbilt University The Tax Cuts and Jobs Act, a set of tax cuts Donald Trump signed into law during his first term as president, will expire on Dec. 31, 2024. Just like prior “trickle down” plans, Trump’s corporate tax cuts did not produce higher wages or increased household income. Stock market inequality Trump’s …

Trump has a problem: America's economy is growing but so is its inflation
3 weeks, 5 days ago

Trump has a problem: America's economy is growing but so is its inflation

Firstpost  

Even as the US economy grew by 2.8% in the third quarter, the inflation also grew by 1.9%, complicating the economic outlook that President-elect Donald Trump will inherit in January US President-elect Donald Trump has vowed to fix the United States. Inflation rises by 1.9% — complicating picture for Trump Even as the US economy grew 2.8 per cent year-on-year …

"All bets are off": How Trump's economy could affect your money
1 month ago

"All bets are off": How Trump's economy could affect your money

Salon  

Presidents don't have the ultimate say in how the economy performs. It is rarely the case that political rhetoric lines up with economic realities.” Most experts agree that if enacted, Trump’s changes could have a chaotic impact on the global economy and spark a rise in inflation and consumer prices, particularly if tariffs rise to the higher range he has …

Tariffs, tax cuts and deportations: What Trump’s policies could mean for America’s economy
1 month, 2 weeks ago

Tariffs, tax cuts and deportations: What Trump’s policies could mean for America’s economy

Firstpost  

Trump campaigned on promises to impose large tariffs on foreign goods, cut taxes for individuals and businesses, and deport millions of undocumented immigrants working in the United States. President-elect Trump has promised to dismantle many of the Biden administration’s policies, pledging substantial tariffs on imports, tax cuts for individuals and businesses, and a crackdown on undocumented immigrants working in the …

Frustrated Americans await the economic changes they voted for with Trump
1 month, 2 weeks ago

Frustrated Americans await the economic changes they voted for with Trump

Associated Press  

WASHINGTON — Fed up with high prices and unimpressed with an economy that by just about any measure is a healthy one, Americans demanded change when they voted for president. Trump policies could boost inflation The Peterson Institute for International Economics, a leading think tank, has estimated that Trump’s policies would slash the U.S. gross domestic product — the total …

A 'Trump economy' robs from the American people to enrich the elite
1 month, 4 weeks ago

A 'Trump economy' robs from the American people to enrich the elite

LA Times  

If Donald Trump retakes the White House, he would resume serving billionaires such as Vladimir Putin. Believing Donald Trump will be better for the economy than Vice President Kamala Harris is like thinking you’re a dinner guest when you’re actually the main course. When Trump slashed the corporate tax rate, his Council of Economic Advisers promised American workers would see …

Trump's plans would 'damage' American economy for more than a decade: study
2 months, 3 weeks ago

Trump's plans would 'damage' American economy for more than a decade: study

Raw Story  

A new study from the Peterson Institute for International Economics projected that former President Donald Trump's second-term policy proposals of mass deportations and massive tariffs on all foreign goods would do significant damage to the American economy. As CNN reports, the study projected that Trump's plans "would cause weaker economic growth, higher inflation and lower employment," and that in some …

Trump’s promises would spike inflation and wipe out jobs, study finds
2 months, 4 weeks ago

Trump’s promises would spike inflation and wipe out jobs, study finds

CNN  

CNN — Former President Donald Trump has promised to attack the United States affordability crisis by imposing immense tariffs, carrying out unprecedented deportations and even influencing interest rate decisions. A loss of Fed independence would cause “permanently higher inflation” that “leads to ever-increasing prices across the US economy,” the paper said. At an event in Michigan last week, Trump praised …

The Trump economy: Slower growth, higher prices and a bigger national debt
5 months, 1 week ago

The Trump economy: Slower growth, higher prices and a bigger national debt

Al Jazeera  

Plans to hike tariffs, tighten immigration and cut taxes are likely to crimp growth and fuel inflation, experts say. “A tariff increase covering nearly all goods imports, as Trump recently proposed, goes far beyond any previous action,” Moody’s Analytics said in its report. “There are three main tenets of Trump’s campaign, and they all point in the same inflationary direction,” …

Opinion: Trump's claims about the economy in the debate will be lies
5 months, 3 weeks ago

Opinion: Trump's claims about the economy in the debate will be lies

LA Times  

Expect the economy to be debated by President Biden and former President Trump on Thursday. Spoiler alert: “Bottom line, in their totality, Biden’s policies are better for the economy than Trump’s,” Moody’s chief economist Mark M. Zandi told me. Moody’s projects that after Trump’s recession, the economy would return to growth late in his second term, for average annual growth …

Use Expiring Trump Tax Cuts To Overhaul The Entire Tax System, Groups Say
7 months ago

Use Expiring Trump Tax Cuts To Overhaul The Entire Tax System, Groups Say

Huff Post  

LOADING ERROR LOADING The $4.6 trillion in tax cuts that expire next year offer a chance to completely revamp the U.S. tax system that should not be missed, more than 100 progressive and economic groups said Tuesday. “Congress should pursue reforms — including corporate tax reforms — that stem the decades-long tide of tax cuts for the rich and corporations …

Many remember solid economy under Trump, but his record also full of tax cut hype, debt and disease
7 months ago

Many remember solid economy under Trump, but his record also full of tax cut hype, debt and disease

Associated Press  

WASHINGTON — It was a time of fear and chaos four years ago. DECENT GROWTH Trump assured the public in 2017 that the U.S. economy with his tax cuts would grow at “3%,” but he added, “I think it could go to 4, 5, and maybe even 6%, ultimately.” If the 2020 pandemic is excluded, growth after inflation averaged 2.67% …

Tax Cuts Are Here to Stay—And So Are Exploding Budget Deficits
1 year, 3 months ago

Tax Cuts Are Here to Stay—And So Are Exploding Budget Deficits

Live Mint  

WASHINGTON—President Biden and Republicans are gearing up for a hyperbolic election-year battle over extending the 2017 law that lowered taxes for individuals and businesses. In his budget, Biden has already proposed extending Trump’s tax cuts for almost all households, and he has promised to avoid raising taxes on anyone making under $400,000. Contrary to claims that the tax cuts would …

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