Friday, January 8, 2016

Will Trump help the Economy?

Chase Seliger
12/21/15
Mrs. Straub
AP Econ-Insight

Will Trump help the Economy?




With the 2016 elections slowly coming up, many individuals are wondering who they are going to want to vote for, Hillary Clinton? Jeb Bush? but many individuals are very skeptical on whether Donald Trump would make a good president to run the United States.  When people think of Donald Trump they think of a highly qualified and well experienced man in the business world. Which is why people are wondering if he could help improve the U.S. economy since he has an extensive knowledge in economics as he graduated with a bachelor's degree in 1968 at the University of Pennsylvania. But the real question is will Trump help the economy?
Donald Trump has many views his economic policies, and many people are with them or against them. Trump’s first policy is to place massive tariffs on China and Mexico in order to bring back jobs to the United States. For example, Trump said he would place a 35% tax, on any Ford vehicles made in Mexico. This would make Ford most likely want to start producing more in the U.S. again instead of other countries. Trump also stated he would want to place a 25% tax on any goods coming in from China to the United States. By doing this, it would create more jobs in the United States again, and boost our economy again instead of losing thousands of jobs when companies move to other countries to save money. Another view Trump has is to keep the minimum wage at the current level it is at now, $7.25. He believes that if the wage was to rise to $10.10, millions of jobs would be lost, which he believes the opportunity cost of raising the minimum wage level is too big of a risk, and it could bring the US into more of a crisis. Having a net-worth of $3 Billion dollars, Trump is big on placing a one time tax of 14.25% on the wealthy (people making over $10 million a year). He believes this will help the United States pay off a lot of the debt we are currently facing. Trump would also have tax cuts on anyone who makes less than $250,000 a year, which could help many lower class to middle class American’s to become more wealthy by being able to save up more money. Another large idea Trump has it to have Wall Street professionals to take higher up money positions within the government, including Treasury Secretary. This would mean people who know how to run the economy would be running the economy, making the United States into a stronger country than it already is. Trump’s last idea would be to get rid of Obamacare, Trump calls the Affordable Care Act a “Disaster” according to CNN.com. He believes that the United States would be better off without it and citizens won’t feel the wrath of it till 2016 hits. Trump wants to stick to how healthcare used to be before, because it worked fine before, which is the way that he wants it to run.
So by adding up the facts, and by looking at the good factors, Trump seems like he would help boost the economy of the United States quite well, but people need to remember that is only one policy out of a great amount. Just because a candidate is good in one location doesn’t mean they will be the best in the other ones. Trump would most likely make the United States economy a greater power house, but people need to analyze what he wants to do with the rest of the US.

Works Cited:

Long, Heather. "So What Exactly Is Donald Trump's Economic Policy?" CNN Money. Cable News Network, 28 July 2015. Web. 23 Dec. 2015. <http://money.cnn.com/2015/07/28/news/economy/donald-trump-polls-taxes-wages/>.

Stewart, Emily. "If Donald Trump Was President, Here's What Would Happen to the U.S. Economy." The Street. The Street Inc., 15 Dec. 2015. Web. 23 Dec. 2015. <http://www.thestreet.com/story/13335121/1/if-donald-trump-was-president-here-s-what-would-happen-to-the-u-s-economy.html>.

16 comments:

  1. I believe raising the taxes on Ford's from Mexico and on goods made in China could have a good effect on the U.S. Economy. Overall I feel having such a smart and knowledgeable man on the economy in the White House would be a very good idea and maybe try to save the deficit, which is one of the longest ongoing problems in this country.

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  2. All I can wonder is, are the taxes on foreign products really a good idea? Yes, it would create more jobs in the United States, but would bringing less cheap products in from China be efficient? Everyone has resources in their country and they specialize in specific things. South Korea for example makes Samsung phones. What cheaper phone brands would we come up with here? Do we have the resources? This topic raises a lot of questions. For the most part, all I've heard was that Trump would be an awful president, but from this, I can see that he may have a few good ideas. Cutting taxes for the poor may help, but I'm not sure the consequences. Great essay and topic!

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  3. I think that it is always hard to tell if policies will benefit the economy or not. Some policies might help one part of the economy while hurting another. Politicians have to analyze the opportunity costs of their policies and where the benefits would outweigh the negatives. Some of his policies like placing tariffs might help bring jobs back to the US but it also could cause prices to increase. It is hard to predict the effects that policies will have and so politicians will have to analyze them very carefully.

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  4. It's interesting to see Trump's economic policies without the other factors that make him be seen as bad, such as his attitude or outrageous claims. However, I feel that if we imposed those tariffs on China and Mexico, we'd lose a necessary relationship with those two countries. Imposing a tariff on Mexico would violate the North American Free Trade Agreement, that allows free trade between The United States and Mexico.

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  5. While many of Trump’s economic ideas are reasonable, and I’m sure with his business/economics expertise that he’d implement programs that would help the American economy,we’ve learned that decisions do not come without tradeoffs, and his actions could lead to damaged international relations. The trade tariffs that lessen our purchasing from other countries will not be taken to kindly by these other countries. On the same matter, what you said about economics not being the only problem handled by the president is true, and Trump has shared many controversial ideas about other issues.

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  6. Many of trumps economic thoughts are very reasonable and could have a huge effect here on US soils like increasing the taxes on the wealthy and have a tax cut on lower income families and middle class. Another really good idea that trump stated was putting a tariff on imported goods from US companies that moved to other countries to save money in labor costs. Like ford moved to mexico to make more cars at a lower labor cost = more money for Ford. This is a really good way to bring more US companies back to US soils. But now if you think about it if the american companies were to just pack up and go the countries that they are located in will not take this very lightly because it will mean hundreds of jobs will be lost the same way hundreds of Americans lost their jobs when the big 3 were in america (General motors, ford and Chrysler). But still the big question remains, is trump suitable to run the United States? He has good ideas and solutions to fixing many things and he also wants to put a big dent in the US dept. We will just have to wait and see how elections go and see who will run this country the best.

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  7. This was a very interesting and informative read. I have no doubt that there will be positive effects to the economy if Trump was to win but it will come with an interesting trade off in foreign affairs. It would also be interesting to see how much he would be able to accomplish policy wise as well since it is so hard to affect change in the government because of all its checks and balances.

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  8. I think this piece has a lot of importance. I found Donald Trump's policies to be a very important thing. I believe it would help get the economy back on track. But there are some draw backs. For example if Ford moves back to manufacturing in the US it will have to pay it's workers a higher wage. This means the company will make less profit and they most likely won't like that.

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  9. I think this piece has a lot of importance. I found Donald Trump's policies to be a very important thing. I believe it would help get the economy back on track. But there are some draw backs. For example if Ford moves back to manufacturing in the US it will have to pay it's workers a higher wage. This means the company will make less profit and they most likely won't like that.

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  10. I found your piece quite intriguing in the sense that across the political world many are talking about a Donald Trump-Hillary Clinton battle for the White House, even though the party elections have yet to take place. Before everyone jumps to the conclusion that Trump will take the Republican spot, we need to observe and critique his policies. Clearly he could help "make America great again" economically, but like your post suggests, we as American voters need to take a closer look into other policies as well. I thought your post was very insightful and thought provoking.

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  11. I think that this is definitely a unique idea to post about. But I believe there is no way to know for sure if a specific policy will or will not work until it is put into practice. In addition, many things that politicians say sound good and look good on paper, however, when the time comes to actually use it, it fails. Additionally, politicians are widely viewed as dishonest people that will say things just to gain popularity. So I feel like until we elect Donald Trump as president, then we will know how his policies would fair for the US economy.

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  12. I think that your blog post was unique and insightful. It is interesting to analyze the potential effects the Donald Trump would have on the United States economy, if he were to be elected president. I agree with you in the sense that Donald Trump would be a positive force on our nations economy and would help to decrease debt. Although, I think that when choosing who to vote for, it is obviously necessary to look at all of the policies of government in order to get a true sense of what the candidate will do for/to our country. Overall, your economic terminology was sound and I thought that your post was very unique and interesting. Nice job!

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  13. I like the topic you chose. The next election has been a very prominent news topic and I like that you were able to relate it to economics. It definitely makes sense that a great business man knows how to help the economy, though he has many strong viewpoints. This is a strong example of politics interfering with economics. For example, it's obvious that income is unevenly distributed but how we should deal with it (whether it be a tax or a different solution) is often debated. I like the point you bring up at the end. Economics are an issue in our country but we have other pressing issues so it is important to analyze all aspects of a person.

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  14. I feel that putting such high taxes on foreign good would bring jobs back to the United States but would also cause problems with our relationships with the countries that we are importing from. I also agree with Trumps idea that the rich should have a higher tax compared to those with a lower income. But I don't that that people working on Wall Street should be given positions in government as I don't think people who trade stocks and bonds all day are very much qualified to run the economy.

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