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Relatable with Allie Beth Stuckey
Ep 1093 | Trump’s Tariff Plan & How He’ll Lower Inflation | Guest: Ron Simmons
Oct 31, 2024
In a thought-provoking discussion, Ron Simmons, a political and economic expert and Allie Beth Stuckey's father, compares the contrasting policies of Trump and Kamala Harris in the lead-up to the election. He highlights Trump’s tariff plans and their impact on inflation and small businesses while stating that both candidates promise to eliminate taxes on tips. Ron shares predictions for the election outcome and dives into the implications of each candidate's foreign policy, asserting Trump as a better option for global peace.
42:51
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Quick takeaways
- Trump's economic policies focus on significant tax reductions aimed at increasing consumer purchasing power and job creation.
- The podcast explores the complexities of Trump's tariffs as a negotiation tool, potentially benefiting small businesses despite some criticisms.
Deep dives
Contrasting Economic Policies
Trump proposes significant changes to economic policies, emphasizing tax reductions, particularly on corporations and individuals. He suggests lowering the corporate tax rate from 21% to 15%, believing this will result in lower consumer prices since corporations typically pass costs onto customers. In contrast, Kamala Harris advocates for an increase in the corporate tax to 28%, which critics argue would lead to higher consumer prices and decreased small business viability. Trump's tax plan aims to keep more money in the pockets of individuals, while Harris's plan is expected to raise taxes, which could further burden working-class Americans.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode