Donald Trump: Can He Make America Great Again ?
Billionaire and real estate mogul Donald Trump shocked the world as he announced that he would be in the running for becoming a republican presidential candidate in the 2017 elections. Trump has a reputation for being an eccentric billionaire and a hard task master. However, the character and temperament that are needed to run a state have been found missing from Trumps personality.
Critics state that Trumps personality makes excellent reality TV. However, it isnt enough to carry him through as the American president. Critics also observe that Trump has made vague statements about economic issues and hasnt proposed exact solutions.
He says he would tackle the economic issues by being a tougher negotiator than the Obama government. However, his exact action plan is not really known. Although he has never clearly stated his economic intention he has given some glimpses of it. In this article, we will analyze whether Trumps supposed action plan can meet the tough economic challenges that the dwindling American economy poses.
Import Duties: Trump realized that the number one concern Americans face today is lack of proper jobs. He also understands that there is a feeling amongst Americans that multinational corporations are sending these jobs overseas and are profiting from their unemployment. They are on the lookout for someone who can take a tough stance against these multinationals.
Donald Trump has positioned himself as the guy who can do so. He has stated that he would raise the import duties of goods imported from countries like China and Mexico to a staggering 35%. By doing so, he claims that he would be able to hamper the dumping of these goods on American soil. This would force American corporations to produce their goods on American soil.
Many people do not agree with Mr. Trumps view. The opposition basically stems from the fact that more than 50% of American imports are raw materials which are assembled in America itself using American labor. Also, economists state that even after a 35% price raise, imported goods will still be cheaper than domestically manufactured ones. Hence consumers would still prefer imported goods. However, the prices of necessities might rise significantly.
Taxes: Donald Trump has suggested a soak the rich policy to get rid of the United States debt woes. He has surprisingly suggested a one-time tax of 14.5% on the net worth of all people earning more than $250000 per annum.
His personal tax bill would be up by a whopping $795 million in the process! However, Trump believes that there are numerous benefits to getting rid of the United States national debt. He believes that taxes can be reduced and production can be made more efficient if the national debt is eliminated. This would prevent outsourcing of jobs and make America great again!
Not to mention, the $200 billion per year interest payments can be saved as well. The money saved by not making debt payments can be used to fund the bankrupt social security and Medicare program. This initiative has obviously received a lot of support from the lower classes since they dont have to pay but will be the beneficiaries. However, the upper classes are influential and are unlikely to allow such a plan to ever come into effect.
Donald Trump has once again felt the pulse of the masses with the deportation issue. The average American feels that his jobs are being robbed by illegal immigrants. Also, immigrants are known for criminal activities which increase the cost of governance. Many politicians have addressed these issues in the past. However, nobody has responded as dramatically as Donald Trump.
Trump has proposed the mass deportation of over 11 million illegal immigrants. He believes that this is likely to free up jobs for fellow Americans. However, many Americans feel that the resultant economic gains will be more than offset by the fact that there will be 11 million less consumers in the nation. Also, most jobs occupied by illegal immigrants are menial jobs which do not interest Americans anyway!
Donald Trump believes that it is entrepreneurship that can make America great again. He also believes that nowadays policies are being formulated by bureaucrats, which is why Americans are no longer competitive. He wants to give important government positions to people who have a track record of succeeding.
For instance, Jack Welsch, the famous CEO of General Electric is a probable treasury secretary if Donald Trump were to become President of the United States.
Whereas some view this step as positive, others are disgusted by the mere mention of it. The American populace is tired of the excessive influence that corporations have on them. The thought of having former executives from these top corporations dictating aspects of their daily life is enough to cause them to not vote or Donald Trump. Trump may have to reconsider his recruitment strategy given the extreme unpopularity of his proposed candidates.
To sum it up, Donald Trump has been the dark horse of the Republican Party. No one considered him a serious threat and thought that his policies were bordering on lunacy. However, the public has shown stupendous support and trust for Donald Trump. It is likely that some of these policies might be tested very soon for their effectiveness.
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