Trump’s Economic Plan
by Stephen Lendman
Here’s a snapshot courtesy of Bloomberg Politics
. Specifics aside, promises and fulfillment most often diverge greatly.
It’s easy to propose, hard to deliver, especially when intent falls short of campaign pledges. Then there’s Congress to contend with. Even public opinion occasionally has sway – rarely, but sometimes.
Ahead of his August 8 economic policy address, Bloomberg said he’ll propose no new financial regulations until “significant (economic) growth” occurs. Earlier he said he’d repeal Dodd-Frank, erroneously touted financial regulatory reform – doing nothing to curb casino capitalism.
He’ll propose repealing the so-called “death tax,” estate taxes affecting high-net worth individuals and households only, lowering maximum corporate taxes to 15%, and substituting three tax brackets for the current seven.
“He’ll call for the elimination of special tax treatment for carried-interest income at private-equity firms and other investment firms,” said Bloomberg.
He’ll continue expressing opposition to TPP, support for polluting coal and environmentally destructive Keystone pipeline construction.
He’ll rescind the Paris climate agreement – not worth the paper it’s written on, achieving nothing beneficial for planet earth.
He’ll stress “record-breaking pace of new regulations, tax increases, restrictions on private-energy production and one-sided trade deals” hurt US cities suffering economic hardships.
He’ll call Hillary “the candidate of the past,” himself seeking a better future. He’ll speak later this summer about rebuilding America’s infrastructure, more on financial deregulation.
He won’t address his earlier comments about wanting improved relations with Russia – his most important geopolitical initiative if undertaken in contrast to Hillary risking direct confrontation.
He’s scheduled to deliver a Detroit Economic Club speech around noon on Monday. He’ll continue promoting his economic and financial agenda for the remainder of the campaign.
Like Hillary’s plan, it mostly favors America’s rich, Wall Street and other corporate interests – some crumbs thrown at ordinary folks to make the medicine go down.
His new book as editor and contributor is titled “Flashpoint in Ukraine: US Drive for Hegemony Risks WW III.”
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