By Michael Woyton
People versed in economics have said that the tax policies Donald Trump is proposing for his possible second term would be really bad for the country.
According to a survey of economists, the convicted felon’s policies would cause an almost 9 percent drop in the GDP, mostly because of his threatened mass deportation of immigrants, that would decimate the workforce and likely plunge the country into a recession or depression.
Also, Trump’s tariffs imposed on imported goods would mean up to $4,000 taken out of Americans’ pockets, and all told, his policies would increase the national debt by more than $3 trillion.
All that apparently is OK with the world’s richest man.
A post on the site previously known as Twitter, @FischerKing64 said that if Trump actually goes through with mass deportations and Elon Musk, who seems to want a position in the government, cuts the federal budget and fires government employees, “there will be an initial severe overreaction in the economy,” causing the markets to tumble.
@FischerKing64 goes on to say, “But when the storm passes and everyone realizes we are on sounder footing, there will be a rapid recovery to a healthier, sustainable economy. History could be made in the coming two years.”
So, to summarize, everyone who isn’t a billionaire should prepare for financial pain.
And that is fine with Musk, who responded to the tweet with “Sounds about right.”
According to MSNBC, “this plan would match cuts implemented by Argentina’s far-right pro-Trump president, Javier Milei, who has developed a cult following in today’s GOP. And if that’s Musk’s model, Americans have a lot to fear.”
Musk told Rolling Stone that, if he gets a role in government, “Americans will suffer ‘hardship’ as a result of efforts to address the national debt.”
MSNBC’s Ja’Han Jones wrote that the billionaire is already worried about the possible public unrest such a plan could stir up.
“The whole, you-must-suffer-for-your-country thing certainly smacks of authoritarian propaganda,” Jones wrote. “And I think that we can all rest assured Musk — billionaire many times over, who has already benefited greatly from government investment — won’t be enduring any true hardship if his plan is ever implemented.”
Just to hammer home the point that Trump continues to mislead the public — i.e., lie — that foreign countries will pay the tariffs he is hoping to implement on imported goods, executives of companies that rely on foreign-made goods are preparing to jack up prices if the former president wins the election.
“Producers of a range of items, including clothing, footwear, baby products, auto parts and hardware, say they will pass along the cost of the tariffs to their American customers,” The Washington Post reported.
Tariffs are paid to the United States Customs and Border Protection agency by American importers at the time their products enter the country, which is completely contrary to Trump’s claim that the foreign countries would pay the import taxes.
Timothy Boyle, CEO of Columbia Sportswear, said his company is buying items now for next fall’s delivery and is set to raise its prices.
“It’s going to be very, very difficult to keep products affordable for Americans,” he told The Washington Post.
Needless to say, it’s extremely unsettling that Trump is either unwilling to understand the economic forces at play here or is incapable of understanding them.
Lead art: Screen grab from RSBN
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