Trump’s disastrous economic plan will add trillions to national debt

With the Harris versus Trump showdown in full effect, we’ve got an actual presidential race underway now. That being the case, we also have a glimpse into who has great plans for our next four years, and given what’s been put out by the candidate so far, one thing I can tell you is that Donald Trump’s plan for our national debt is just like his business dealings an utter disaster. 45 proposed tax cuts would add 4 trillion in debt over the next four decades, costing us far more in debt than it would boost in terms of revenue. All the while, Kamala Harris proposes a budget strategy that would reduce the deficit by trillions of dollars, largely by taxing the rich. Now, if you are fiscal minded Well, or you’re maybe just somebody who cares about our national debt, you should probably vote blue, particularly given how the looming societal shift is about to erupt when it comes to economics in our country. So let’s talk numbers. The federal debt, it’s hovering around 35 trillion, and Trump, well, him and Biden added about the same amount in terms of debt, but neither of those men were entering the administration that was at a tipping point. The next president will be dealing with a surge in deficits brought on, in part because of baby boomers. They’re going to be retiring, and they’re going to be sucking Social Security and Medicare dry. In fact, the nonpartisan Congressional Budget Office predicts that the national debt will leap from 35 to 57 trillion over the next decade. That is regardless of whether we get new tax cuts or spending programs. Basically, we’re approaching a pinch, and the priority must be reduction. But that’s not what Trump does. He trumps everything up, including costs. He’s proposed various tax cuts with the idea of appealing to voters struggling financially, but even if he were to come through on his promises, the costs would be enormous for the country. For example, Trump proposes to eliminate taxes on Social Security benefits for retirees, also on tips issued to waiters and rideshare drivers. He also wants to cut corporate income tax down from 21% to 15% altogether. Trump’s proposed cuts would reduce federal revenue by some 7 trillion, causing the national debt to climb. Trump’s proposals to use what cryptocurrency to slash $35 trillion in debt is shenanigans, given that all the Bitcoin in the world doesn’t amount to even one and a half trillion dollars. Hard stop. It’s evident that this man is simply saying things that he thinks voters want to hear so he can get into office. But Trump’s not looking out for our nation’s best interest, nor is he proposing changes that are even plausible. If he were well, he’d be looking to tax the rich, much like Kamala Harris is looking to do. The Manhattan Institute looked at avenues for taxing the rich, meaning the 1% who make more than $686,000 each year, and it found that by raising taxes on individual income, capital gains, estate tax and other corporate tax rates, the government could see nearly 7 trillion of our federal deficit reduced. That’s enough to stabilize the debt over the long haul, there are many ways in which we, the people, can secure our future financially without running into extreme debt. Trump is not looking to make our financial future a priority or secure. He’s just looking out for his own just like he showed us when he was president, and he hauled in 2.4 billion during his four years in office, at least 160 million, of which came from foreign countries, according to Citizens for Responsibility and Ethics in Washington, and we know the allegations that Trump was selling government documents and secrets abroad, this man will Sell us and our economy down the river without looking back, we the people, must remember that come November 5, we.