Trump's Economic Plan for Fellow Plutocrats

Kevin Drum boils Donald Trump's economic plan down on Mother Jones (spoiler alert: SOS).

Donald Trump just finished reading his big economic policy speech from a teleprompter. He's really bad at reading from a teleprompter, looking alternately bored and outraged. Here are the pieces that caught my eye:

• Huge tax cut for the rich.
• But no spending cuts that he's willing to admit to.
• End of estate taxes.
• Cut corporate tax rate to 15 percent.
• Allow corporations to repatriate foreign earnings at a special 10 percent rate.
• Declare China a currency manipulator, even though their currency is currently overvalued, not undervalued. A market rate for the renminbi would make Chinese imports even cheaper.
• Slash regulations on corporations.
• Pretend global warming doesn't exist.
• Ban all new financial regulation.
• Repeal Obamacare.
• Implement a childcare tax deduction instead of a tax credit.
• He will work with Ivanka on a childcare plan. Because, I guess, Ivanka has kids, so she's an expert on the problems that low-income workers have with childcare.

Didn't we give this approach a shot under George W. Bush? How did that work out? Tepid GDP and job growth (Drum helpfully provides charts showing both doing better under Obama here) followed by a historic crash enabled by that very de-regulation.


No, thanks.