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August 9, 2016

Politico Morning Money: Trumpenomics 101

“TRUMPENOMICS 101 — The economic plan Donald Trump rolled Monday out was a peculiar mix of supply side tax cuts (though trimmed down from his original proposal) and hard-core protectionism with a side order of regulatory relief. Perhaps the strangest things for a would-be populist: elimination of the estate tax, which hits only the very wealthy, and a tax deduction for child care (also tilted to the rich with nannies) rather than an expanded child care tax credit. 

“The regulatory pause also allows Democrats like Elizabeth Warren (who jumped right in) to say Trump is soft on Wall Street. In all, a little bit for various different wings of the GOP — and disaffected blue collar Democrats and independents — but nothing for any of them to really love.”

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TRUMP REACT FLY AROUND —  Better Markets’ CEO and President, Dennis Kelleher: “Mr. Trump blaming President Obama and Secretary Clinton for Wall Street’s crash of the economy may be good politics, but it is bad economics and even worse policy. 

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To read more of the Politico article by Ben White click here.

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