# Trump's Economic Plan **URL:** \ **Category:** Politics & Elections\ **Tags:** trump\ **Created:** [August 16, 2024, 3:33pm UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796 "2024-08-16T15:33:22Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [August 16, 2024, 8:55pm UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/21 "2024-08-16T20:55:52Z")
Deleted. ---
**Author:** ![Euphonious\_Polemic](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/euphonious_polemic/32/3002_2.png) [@Euphonious\_Polemic](https://boards.straightdope.com/u/Euphonious_Polemic)\ **Post date:** [August 16, 2024, 10:46pm UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/22 "2024-08-16T22:46:28Z")
> [@excavating\_for\_a\_mind](#): > > Now, the first one is simply going to raise the deficit. The people who need help don’t pay much income tax, so it won’t help them. Those who earn enough to make a difference, don’t need help. But a larger deficit lowers the strength of the dollar, leading to inflation. The “Tax on tips” scheme is designed to funnel more money to top earners who get bonuses in the 6 figure range. They’ll just call these “tips”. Same with bribes. The SC has ruled that you can give them (or politicians) “gratuities” after they do you a favor. Now these bribes are tax free! Inflation? Not a worry - The R’s will just blame Biden for their own failures in this area. > [@excavating\_for\_a\_mind](#): > > The deportation of migrants creates a labor shortage at the bottom of the labor pool. Those jobs have to be done, so the only way to fix that is to raise wages, leading to inflation. Besides, I thought the Right Wingers were saying all these migrants were registering to vote. If true (or even possible), it seems the worst thing you could do is threaten them with deportation. Pandering to the racists. They won’t actually deport many… Just some showy crap at the border. They know these people are not able to vote, so they’re not worried (just another lie they tell the racist voters) Businesses want the cheap labor, and the numbers will likely increase under Trump. If anyone calls them on this… they’ll blame Biden. Trump has no economic policy, because he has 6 year old’s grasp of the economy. His toadies are marginally better, but their “knowledge” of the economy is fucking twisted, and they’re likely to crash it, as the OP has implied. ---
**Author:** ![Duckster](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/duckster/32/1244_2.png) [@Duckster](https://boards.straightdope.com/u/Duckster)\ **Post date:** [August 16, 2024, 11:02pm UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/23 "2024-08-16T23:02:59Z")
What Trump says before an election is one thing. What he actually does is another. We’ve been there before. And as much as he denies Project 2025, expect it to happen if he takes office. There is ample leaked information he denies Project 2025 to the masses but behind closed does, it is his plan. ---
**Author:** ![Robot\_Arm](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/robot_arm/32/18280_2.png) [@Robot\_Arm](https://boards.straightdope.com/u/Robot_Arm)\ **Post date:** [August 16, 2024, 11:18pm UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/24 "2024-08-16T23:18:38Z")
> [@](#): > > **Trump’s Economic Plan** Trump has a plan for the economy? > [@excavating\_for\_a\_mind](#): > > Have all his cabinet members do everything they can in their capacity to lower consumer prices Nope. ---
**Author:** ![DWMarch](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dwmarch/32/1010_2.png) [@DWMarch](https://boards.straightdope.com/u/DWMarch)\ **Post date:** [August 17, 2024, 1:41am UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/25 "2024-08-17T01:41:16Z")
> [@excavating\_for\_a\_mind](#): > > Do his ‘Policies’ toward the economy make any sense? He doesn’t have any policies, not even the ones he blathered about. Trump’s solution to problems is simple: he tells you that they are fixed and everything is the best it has ever been. If you disagree with him you are just out to get him. Facts and figures bounce off of him. They are fake news. If anything looks bad it is because you (the royal you) are lying. Not him. He’s not lying, he’s never wrong, everything has been fixed because he fixed it. How? He is not going to tell you. People who take him at his word believe in magic. If he tells them they have a problem, they have a problem. When he tells them it is fixed, all of a sudden it is fixed! They can’t believe how good things are! But in the end result, he did nothing except line his own pockets and tell a bunch of lies. There is no plan and there never was one. ---
**Author:** ![DavidNRockies](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/davidnrockies/32/6279_2.png) [@DavidNRockies](https://boards.straightdope.com/u/DavidNRockies)\ **Post date:** [August 17, 2024, 1:58am UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/26 "2024-08-17T01:58:02Z")
> [@Duckster](#): > > What Trump says before an election is one thing. What he actually does is another. We’ve been there before. I’m struggling to agree with that. IMHO, what Trump _does,_ while in power, is a pretty close match to what he _says_ during the campaigns. Nothing. ---
**Author:** ![F.U.Shakespeare](https://avatars.discourse-cdn.com/v4/letter/f/aca169/32.png) [@F.U.Shakespeare](https://boards.straightdope.com/u/F.U.Shakespeare)\ **Post date:** [August 17, 2024, 2:41am UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/27 "2024-08-17T02:41:03Z")
Yes and no. The difference seems to depend on whose undying loyalty he needs. The religious right for votes, billionaires for donations. He did indeed appoint right-wing SCOTUS judges to roll back abortion rights and bless tax cuts. He didn’t build a wall, and Mexico didn’t pay for it. ---
**Author:** ![Horatius](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/horatius/32/3572_2.png) [@Horatius](https://boards.straightdope.com/u/Horatius)\ **Post date:** [August 17, 2024, 2:50am UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/28 "2024-08-17T02:50:12Z")
> [@DWMarch](#): > > If he tells them they have a problem, they have a problem. When he tells them it is fixed, all of a sudden it is fixed! The wonderful thing about fake problems is, the fake solutions actually work! ---
**Author:** ![Railer13](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/railer13/32/9742_2.png) [@Railer13](https://boards.straightdope.com/u/Railer13)\ **Post date:** [August 17, 2024, 3:25am UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/29 "2024-08-17T03:25:42Z")
> [@Max\_S](#): > > But only half of social security comes from the employee, the other half is paid by the employer and they _do_ deduct from taxable income. Yeah, you’re talking about the SS tax withheld from paychecks. What @BobLibDem and I are discussing is how the SS benefits are taxed, and where those proceeds go. I’m arguing that SS income on a return is taxed as ordinary income and any tax revenue on that SS income goes into the same bucket as all other income taxes on that return. ---
**Author:** ![Max\_S](https://avatars.discourse-cdn.com/v4/letter/m/46a35a/32.png) [@Max\_S](https://boards.straightdope.com/u/Max_S)\ **Post date:** [August 17, 2024, 3:43am UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/30 "2024-08-17T03:43:54Z")
I _was_ referring to the fate of taxes on social security benefits. [https://www.ssa.gov/policy/docs/issuepapers/ip2015-02.html](https://www.ssa.gov/policy/docs/issuepapers/ip2015-02.html) > The Social Security Act Amendments of 1983 (Public Law 98-21) established that beneficiaries whose total annual income exceeds certain thresholds are required to pay income tax on up to 50 percent of their Social Security benefit income. Ten years later, the Omnibus Budget Reconciliation Act of 1993 (OBRA 93, Public Law 103-66) established an additional higher threshold, above which up to 85 percent of Social Security benefits are taxable. The 1983 amendments require beneficiaries to pay income tax on their benefits if their modified adjusted gross income (AGI)—which includes one-half of Social Security benefit income—is greater than $25,000 for single beneficiaries and $32,000 for married couples (Table 1).[2](https://www.ssa.gov/policy/docs/issuepapers/ip2015-02.html#mn2),[3](https://www.ssa.gov/policy/docs/issuepapers/ip2015-02.html#mn3) Specifically, beneficiaries who file taxes singly must count as taxable income the lesser of one-half of the amount by which modified AGI exceeds $25,000 or one-half of their benefit income. Married beneficiaries filing joint income tax returns are required to count as taxable income the lesser of one-half of the amount by which modified AGI exceeds $32,000 or one-half of their benefit income.[4](https://www.ssa.gov/policy/docs/issuepapers/ip2015-02.html#mn4) Prior to OBRA 93, all of the revenue raised from taxing Social Security benefits was credited to the Old-Age, Survivors, and Disability Insurance Trust Funds. > > OBRA 93 established the second income thresholds of $34,000 of modified AGI for beneficiaries filing income tax singly and $44,000 of modified AGI for married beneficiaries filing jointly. Although benefit income for tax filers with modified AGI below those thresholds remains taxable according to the terms of the 1983 amendments, up to 85 percent of Social Security benefits are taxable for beneficiaries with modified AGI exceeding the new thresholds.[5](https://www.ssa.gov/policy/docs/issuepapers/ip2015-02.html#mn5) The additional revenue generated by increasing the maximum taxable proportion of benefits above the second threshold from 50 percent to 85 percent is credited to the Medicare Hospital Insurance Trust Fund. ~Max ---
**Author:** ![Railer13](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/railer13/32/9742_2.png) [@Railer13](https://boards.straightdope.com/u/Railer13)\ **Post date:** [August 17, 2024, 3:48am UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/31 "2024-08-17T03:48:20Z")
> [@Max\_S](#): > > I _was_ referring to the fate of taxes on social security benefits. Indeed you were, and I stand corrected. You and @BobLibDem were right. Ignorance fought, and thanks for the cite. ---
**Author:** ![BobLibDem](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/boblibdem/32/3149_2.png) [@BobLibDem](https://boards.straightdope.com/u/BobLibDem)\ **Post date:** [August 17, 2024, 1:15pm UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/32 "2024-08-17T13:15:41Z")
Thank you, Max\_S. I think proposals to eliminate taxes on SS benefits need to address the impact on the Trust Fund. ---
**Author:** ![survinga](https://avatars.discourse-cdn.com/v4/letter/s/cab0a1/32.png) [@survinga](https://boards.straightdope.com/u/survinga)\ **Post date:** [August 17, 2024, 5:41pm UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/33 "2024-08-17T17:41:44Z")
> [@excavating\_for\_a\_mind](#): > > Does Trump have anything I haven’t mentioned? Do his ‘Policies’ toward the economy make any sense? The main thing you didn’t mention is Trump’s planned 10% tariffs on all imported goods. This will drive up inflation, and will be disproportionately paid by lower and middle-class people. It will feel like a tax on working people. And the math on his tariffs doesn’t work, as he thinks it will generate enough income to offset income taxes. It’s a nonsense proposal. [https://www.politico.com/newsletters/weekly-trade/2024/07/15/white-house-tallies-cost-of-trumps-tariff-plan-00168180](https://www.politico.com/newsletters/weekly-trade/2024/07/15/white-house-tallies-cost-of-trumps-tariff-plan-00168180) > **[Five Things to Know about Trump’s Tariff and Income Tax Proposals](https://taxfoundation.org/blog/trump-income-tax-tariff-proposals/)** > > Former President Trump floated the possibility of entirely replacing the federal income tax with new tariffs. He also raised other ideas like eliminating taxes on tipped income and lowering the corporate tax rate by one percentage point. ---
**Author:** ![smithsb](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/smithsb/32/12107_2.png) [@smithsb](https://boards.straightdope.com/u/smithsb)\ **Post date:** [August 17, 2024, 6:05pm UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/34 "2024-08-17T18:05:18Z")
It’s been years but it still hasn’t been pounded into his head (perhaps the wrong location?) that tariffs are paid by the buyer - Americans - not the seller. The unwashed morons at the rallies don’t understand it either ( **We’ll get all this money from China!!!** ). Meanwhile Dollar General/General Dollar/Dollar Dollar stores keep jacking up the prices. ps It ain’t the Deep State, it’s the Deep Shit they’re wallowing in. ---
**Author:** ![Horatius](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/horatius/32/3572_2.png) [@Horatius](https://boards.straightdope.com/u/Horatius)\ **Post date:** [August 19, 2024, 3:15am UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/35 "2024-08-19T03:15:40Z")
> [@smithsb](#): > > It’s been years but it still hasn’t been pounded into his head (perhaps the wrong location?) that tariffs are paid by the buyer - Americans - not the seller And he’s doubled down on that stupidity just recently, see one of the videos here: > [@Is Trump confused?](https://boards.straightdope.com/t/is-trump-confused/996589/1646): > > “What happened to Biden? I was running against Biden, now all of a sudden, I am running against somebody else? It’s true. It’s interesting. I said, who am I running against? They said Harris. I said, who the hell is Harris?” “She’s prohibited from laughing. They say your laugh is horrible. Never laugh ever. So she’s walking around with her mouth like almost sealed shut. I want her to laugh. And then we will just claim victory” “They will say he’s rambling. I don’t ramble. I’m a really smar… ---
**Author:** ![BobLibDem](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/boblibdem/32/3149_2.png) [@BobLibDem](https://boards.straightdope.com/u/BobLibDem)\ **Post date:** [August 19, 2024, 1:25pm UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/36 "2024-08-19T13:25:30Z")
[He still doesn’t understand tariffs.](https://www.newsweek.com/mark-cuban-raises-question-donald-trumps-tariff-remark-1940799) > Doubling down on this policy at Saturday’s rally and seemingly addressing the criticism surrounding the policy, Trump said, “A tariff is a tax on a foreign country…A lot of people like to say it’s a tax on us. No…it is a tax on a foreign country. It’s a tax on a country that is ripping us off and stealing our jobs. It’s a tax that doesn’t affect our country.” You can’t get this stupid unless you actively work to be that way. ---
**Author:** ![OttoDaFe](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/ottodafe/32/356_2.png) [@OttoDaFe](https://boards.straightdope.com/u/OttoDaFe)\ **Post date:** [August 19, 2024, 2:48pm UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/37 "2024-08-19T14:48:09Z")
Some are born stupid, some achieve stupidity, and some have stupidity thrust upon them. With Trump, we have a trifecta. ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [August 19, 2024, 4:45pm UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/38 "2024-08-19T16:45:55Z")
My guess is that Trump understands tariffs and who pays them, but his audience does not. I don’t think he’s stupid and it’s a mistake to assume that he is. ---
**Author:** ![Horatius](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/horatius/32/3572_2.png) [@Horatius](https://boards.straightdope.com/u/Horatius)\ **Post date:** [August 19, 2024, 4:57pm UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/39 "2024-08-19T16:57:16Z")
> [@Dewey\_Finn](#): > > My guess is that Trump understands tariffs and who pays them But then, he would have to not understand the impact tariffs have on the economy. This is the guy who refused to acknowledge a global pandemic because he was worried it would make the stock market fall, making him look bad. Why would he push tariffs that would negatively impact his Precious Economy? “Record stock market!” was (and still is) the one “achievement” he really had to trumpet. ---
**Author:** ![snowthx](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/snowthx/32/10660_2.png) [@snowthx](https://boards.straightdope.com/u/snowthx)\ **Post date:** [August 19, 2024, 5:04pm UTC](https://boards.straightdope.com/t/trumps-economic-plan/1005796/40 "2024-08-19T17:04:16Z")
> [@Horatius](#): > > Why would he push tariffs that would negatively impact his Precious Economy? He’s gotta get votes before he can have “his” economy, so he has to get the rubes worked-up over something, and saying the thing opposite what the dastardly Democrats are saying is what gets eyes and ears of the faithful excited. Tariffs “sound” like he knows what he is talking about, and it “sounds” like it will hurt other countries to the rubes. Trump probably has no intention of doing what he says here should he get back in office - he just needs the base to get excited about something or other. And they are cheering for tariffs, so that’s what he’s gonna talk about. It’s just a stupidity circle is all. [Previous page](https://boards.straightdope.com/t/trumps-economic-plan/1005796.md?page=1) [Next page](https://boards.straightdope.com/t/trumps-economic-plan/1005796.md?page=3)