In virtually every poll, respondents say Trump is better on the economy.
But the Wall St Journal just published a survey of economists in “The Economist” magazine, where 67 percent of that large group of economists had evaluated both Trump and Harris U.S. economy plans and said Harris plan would be far better and create stability in the economy while Trump’s plan would create inflation, increase the debt far more and create instability in markets.
In an interview with the Editor of Bloomberg, Trump said he wanted “tariffs of 200 percent – maybe 500 percent” – that he “loved tariffs.” The Editor pointed out that theirs was a business audience and knew that tariffs raise U.S. prices and cause inflation.
Trump talked about the auto industry and said he wanted tariffs so no foreign cars came into the US. But 25 percent of the parts in U.S. cars are made abroad and imported. So, a tariff will substantially increase the cost of ALL U.S. manufactured cars.
Trump lies that tariffs are paid by foreign countries. ALL U.S. businesses, including mine, know that tariffs are U.S. customs costs that are collected at U.S. ports from the U.S. company that picks up the imported parts or goods. And, we have to pass on that cost in higher prices for our products; therefore, leading to inflation.
There is ample evidence that Trump’s economy in the first three years (prior to Covid) was NOT as good in growth of GDP, in job growth or even in inflation (now the same) as Biden’s economy. And Trump just announced he was against the drop in interest rate just done by the Fed. Does Trump actually want mortgage rates high?
Clearly, poll respondents do NOT know that Biden/Harris are much better on the economy than Trump… and if they vote for Trump they will see higher inflation, higher interest rates and a much worse and unstable economy.
William Beckett is a resident of the Village of Sanibel.
