The New York Times on Nostr: Trump’s Plans Could Spur Inflation While Slowing Growth, Study Finds ========== A ...
Trump’s Plans Could Spur Inflation While Slowing Growth, Study Finds
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A study by the Peterson Institute for International Economics warns that Donald J. Trump's proposals to deport 8.3 million migrants and impose tariffs of up to 200% could lead to a 9.7% decrease in GDP and a peak inflation rate of 9.3% by 2028; the analysis suggests that Trump's policies would harm U.S. manufacturing and agriculture while benefiting foreign economies; Trump's proposals include reducing corporate tax rates from 21% to 15% and eliminating taxes on overtime pay, which could add $5 trillion to deficits over a decade; the report indicates that deportation alone would result in no economic growth during Trump's potential second term; economists generally agree that a Trump victory could lead to higher inflation and slower growth, though estimates vary.
#Trump #Inflation #Economy #Tariffs #Migrants #Gdp #2024Election #PetersonInstitute #EconomicPolicy #Manufacturing
https://www.nytimes.com/2024/09/26/business/economy/trump-economy-inflation-growth.html
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A study by the Peterson Institute for International Economics warns that Donald J. Trump's proposals to deport 8.3 million migrants and impose tariffs of up to 200% could lead to a 9.7% decrease in GDP and a peak inflation rate of 9.3% by 2028; the analysis suggests that Trump's policies would harm U.S. manufacturing and agriculture while benefiting foreign economies; Trump's proposals include reducing corporate tax rates from 21% to 15% and eliminating taxes on overtime pay, which could add $5 trillion to deficits over a decade; the report indicates that deportation alone would result in no economic growth during Trump's potential second term; economists generally agree that a Trump victory could lead to higher inflation and slower growth, though estimates vary.
#Trump #Inflation #Economy #Tariffs #Migrants #Gdp #2024Election #PetersonInstitute #EconomicPolicy #Manufacturing
https://www.nytimes.com/2024/09/26/business/economy/trump-economy-inflation-growth.html