Monday, December 14, 2015

Trump vs. Nixon on Economics

Jeffery Bartash correctly notes:

One presidential candidate wants to get rid of loopholes that help the “very rich” and “special interests.” He’s against foreign “sweatshops” that steal American jobs. He backs “prevailing wages” for U.S. positions filled by foreigners with special H-1B visas. And he says he’s the guy to rebuild America’s infrastructure, a job that could cost hundreds of billions of tax dollars.

Bernie Sanders? Nah. Try Donald Trump...

The Republican Party hasn’t fielded a candidate who departs so much from conservative economic orthodoxy since Richard Nixon in 1972.

Worried about reelection, Nixon boosted federal spending and imposed wage and price controls in the early 1970s to tame rising inflation, an approach that ultimately failed. He also pressured the Federal Reserve to adopt easy money.

At one point, Nixon is reported to have said: “I am now a Keynesian in economics.”...

Consider his attacks on the rich. Trump has repeatedly said the wealthy already get too many tax breaks and they should pay more, sounding much like Democrats Hillary Clinton and Bernie Sanders.

While Trump says he favors “free trade” — long a Republican economic staple — he blames unfair practices of foreign nations such as China for costing jobs.

“No more sweatshops or pollution havens stealing jobs from American workers,” says the Trump campaign website in a clarion call for “fair trade.”...

Once a self-professed liberal on health care, Trump has become a sharp critic of the law commonly known as Obamacare. And yet Trump still believes in a critical Washington role: He’s backed a proposal to create a national health-care system similar to one offered to federal employees that is government run.

1 comment:

  1. He's an Interventionist. It's hard to see any difference in policies between a left and a right wing tyrant.