The series on the possibilities of a trump administration continues.

Some pundits say that the economy was a driving force in the past vote….and that things will improve….I disagree.

Now that the idiots in our society all 51% of them have given the nod to Trump for a second time it might be helpful to know what to expect from his economic policies…..

President-elect Donald Trump on the campaign trail laid out a broad array of ideas aimed at providing tax relief, cutting prices, hiking tariffs and strengthening the economy, which ranks at the top of voters’ concerns.

Nearly all of the measures, which lack detail, would require congressional approval. That could be tough to achieve in the partisan climate on Capitol Hill.

Here’s what you need to know about what Trump has said he’ll do to address the economy:

Tackle expiring tax cuts

Some parts of the 2017 Tax Cuts and Jobs Act, one of Trump’s signature achievements during his time in the White House, are scheduled to lapse at the end of 2025.

While the law reduced taxes for most people, Democrats often criticize the TCJA for disproportionately benefiting the wealthy.

Trump wants to extend all the individual income and estate tax cuts that the 2017 law provided. This includes, among other things, an increase to the standard deduction, lower marginal income tax rates for most income brackets, and an increase to the estate tax exemption.

Trump has suggested he would get rid of the cap on state and local tax deductions, known as SALT. The TCJA limited the deduction to $10,000, but the controversial cap expires at the end of 2025.

Additionally, Trump has called for lowering the corporate tax rate to 15% for certain companies. The TJCA permanently lowered the top corporate tax rate from 35% to 21%.

Trump would also restore companies’ ability to immediately deduct investments in equipment and research.

There is so much more…..

https://www.cnn.com/2024/11/06/politics/heres-what-trump-is-proposing-for-the-economy/index.html

Trump’s big stand is the imposition of tariffs…..remember what happen last time he did so?

Economic experts have predicted that such policies would hinder economic growth, increase inflation, harm the working class, balloon the deficit, and likely ignite a new trade war. As a result, his policies would take us back to the first Gilded Age of wealth concentration and gross economic inequality.

Maybe in simpler terms…..

Food will more expensive, education will suck, health care will suffer, tax breaks for billionaires, and on and on…..

But do not take my word for it….

Trump says all this would end inflation, boost manufacturing and employment, and lower the cost of food and housing. But that has been analyzed and dismissed by almost every economist and trade group in the country to look at it.

“Trump has again proven he is a brilliant huckster,” said Kristen Monroe, a political economist at the University of California Irvine. “The election was decided because Americans thought Trump would do a better job managing the economy. Unfortunately, they are wrong. Trump’s policies will help billionaires like Elon Musk but hurt most everyday Americans. We’ll see higher prices, increased deficits, increased costs for healthcare and prescription drugs, and trade wars that will hurt everyone.”

Economists say Trump’s proposal now — for tariffs of 50% to 60% on imports from China and 10% to 20% on all other imports — would crush the economy and do little to preserve jobs. A Bloomberg Economics analysis found that Trump’s tariffs would almost double inflation from its current rate of near 2% to 3.7% by the end of 2025.

https://qz.com/donald-trump-economy-tariffs-trade-taxes-inflation-fed-1851692901

Let’s look at the immediate increases with the Trump tariffs….

President-elect Donald Trump has promised a major escalation of the nation’s tariffs.

Trump has proposed tariffs of between 60% and 100% on Chinese goods, and a tax of between 10% and 20% on every product imported from all U.S. trading partners.

Economists widely forecast that tariffs of this magnitude would increase prices paid by U.S. shoppers, since importers typically pass along a share of the cost of those higher taxes to consumers.

Trump’s tariffs would cost the average U.S. household about $2,600 per year, according to an estimate from the Peterson Institute for International Economics.

Some products would likely undergo much more significant price increases than others, experts told ABC News, pointing to items like electronics and toys that rely heavily on imports.

https://abcnews.go.com/Business/trumps-proposed-tariffs-raise-prices-products-experts/story

There is no room for optimism with Trump economics….it will be disastrous…..and you will be paying through the nose….

But do not bitch for you voted for the SOB

I Read, I Write, You Know

“lego ergo scribo”