On The Market
Trump vs. Harris Economic Plans: Taxes, Affordable Housing, and Inflation
Sep 9, 2024
Economist Joel Naroff joins to unpack the contrasting economic plans of Trump and Harris. He delves into Harris's push for 3 million affordable housing units and her tax strategies aimed at high earners. In contrast, Trump favors tax cuts, potentially easing burdens for Social Security recipients but risking budget deficits. They also discuss how election seasons influence economic choices and the implications of tariff policies on local manufacturing. It's a thought-provoking conversation on what these plans could mean for investors and the economy.
32:47
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Quick takeaways
- Harris aims to combat inflation and boost affordable housing through extensive initiatives, including support for first-time homebuyers and increasing housing supply.
- Trump's economic plan emphasizes tax cuts for individuals and corporations, raising concerns over potential impacts on budget deficits and national debt.
Deep dives
Election Cycle Economic Trends
The discussion highlights the unpredictable nature of economic transitions during election years. Historically, transitions such as from Obama to Trump resulted in stable growth, while crises like the financial collapse under George W. Bush or the recent COVID-19 pandemic made comparisons difficult. Current speculation suggests that the economic situation may lean closer to the Obama-to-Trump transition if either candidate wins, assuming no unprecedented crises occur. Overall, understanding these historical contexts can provide valuable insights into potential future economic outcomes.
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