College of Political Knowledge

The election is churning and we seem to have our two candidates, Biden and Trump, so why not take a look at what the economy would look like under each of them.

American voters have a lot on their minds ahead of the November presidential election.

For starters, inflation is keeping the cost of living high in many US cities, and astronomical home prices are preventing aspiring homeowners from buying. Issues like abortion access and tax policy are also a key consideration for many voters.

With the election six months away, Business Insider looked at President Joe Biden and former President Donald Trump’s plans for eight major economic categories that affect Americans’ daily lives: domestic manufacturing, higher education, healthcare, housing, labor, taxes, tariffs, and trade.

“President Biden is going to keep fighting for working families — lowering the costs of prescription drugs, housing, and childcare; investing in our future; supporting workers and small businesses; and making sure big corporations and the wealthy to pay their fair share,” Lael Brainard, the director of the National Economic Council, told BI in a statement.

Business Insider reached out to Trump’s campaign team but didn’t receive a response.

The analysis is based on the candidates’ past records as president and their promises on the 2024 campaign trail.

Jump to a category: Domestic manufacturing | Higher education | Healthcare | Housing | Labor | Taxes | Tariffs | Trade

Biden plans to do what is doing now……which is as little as possible to keep us peasants in line……Trump would not submit any ideas because he has none….so what do you think about the economy in the coming years?

There is something that I thi8nki deserves looking at…..we could use a new economic model this one is not working for anyone but the wealthy.

But we must also reassess the second belief—that taxes and transfers alone can address the vast inequalities that have brought American democracy to such a perilous juncture. Doing so will lead us towards a more fundamental rethink of our economic institutions, and the values that guide them.

This is partly a pragmatic response to economic reality. The massive increase in inequality since the 1980s in America was mostly driven not by a reduction in redistribution, but by the growing gap in earnings between low skill workers, whose wages have suffered an unprecedented period of stagnation, and college-educated professionals whose salaries have continued to soar. And while inequality has increased in most advanced economies, that it is so much higher in the U.S. compared to Europe is mostly the result of bigger gaps in earnings than lower levels of redistribution. In other words, even if America were to increase the generosity of the welfare state to European levels it would still be much more unequal.

But the need to look beyond redistribution is about more than economics, it is about resisting the narrow focus on money that dominates most debates about inequality, and the tendency to reduce our interests as citizens to those of consumers. While government transfers are essential for making sure that everyone can meet their basic needs, simply topping up people’s incomes fails to recognize the importance of work as a source of independence, identity, and community, and does nothing to address the insecurity faced by gig-economy workers, or the constant surveillance of employees in Amazon warehouses.

https://time.com/6977602/6977602/

We do need a new economic model but there is enough cash flowing into Congress to keep the status quo.

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