PNN – After examining the economic programs of Kamala Harris and Donald Trump, the top 40 American economists chose the platform of the Democratic Party candidate and considered the Republican Party candidate’s programs to lead to more inflation.
According to the report of Pakistan News Network from Newsweek, according to a survey published yesterday, Harris has received good news from economists about her economic plans.
According to this publication, after the high inflation in recent years in America, the economy has been one of the important issues in this year’s election campaigns. Although the inflation rate has now eased, hitting a three-and-a-half-year low in August, many Americans are still feeling the effects.
On the other hand, the Federal Reserve is supposed to reduce the interest rate by a quarter or half a unit in next week’s meeting. The economic body raised this rate 11 times in 2022 and 2023 to curb the high inflation that has affected both the United States and countries around the world after the Covid-19 pandemic. But this is the first time in four years that the Federal Reserve has cut interest rates.
Now, which presidential candidate has a better plan to improve the American economic situation, nearly 40 top economists from the country’s well-known universities have chosen Harris in response to this question. In other words, 70% of economists who have reviewed Trump’s economic plans have declared that his policies will lead to more inflation, while only 3% have had such an opinion about Harris’s economic plan.
70 percent also believed that Trump’s economic plans would increase the federal budget deficit, while only 11 percent said Harris’ platform would have that effect.
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What are the economic policies of Harris and Trump?
In her economic plan, Harris plans to extend tax cuts for small businesses, restore and expand the child tax credit. (According to the rescue plan law, which was approved in 2021 and during the time of Biden’s presidency, three thousand and six hundred dollars are given annually to children under the age of six and three thousand dollars to children up to the age of 17) and reduce housing costs by providing advance assistance to First home owners reduce. Her goal is to offset these social benefits by increasing taxes on the rich and big corporations.
On the other hand, Trump plans to continue the tax cuts he passed in 2017, which largely benefit the wealthy and big businesses. He has also proposed to apply a 10-20% tariff for all imported goods and 60% for imports from China.
What is the opinion of the public about the economic policies of the candidates?
According to a YoGov poll of 1,120 adults conducted from September 11 to 12, 34 percent believe that Harris’ plans will cause a budget deficit, compared to 33 percent of Trump.
In a Pew Research Center poll conducted from Aug. 26 to Sept. 2, 55 percent said they either very or somewhat trusted Trump to make economic policy decisions, compared to 45 percent for Harris.
9,720 adults participated in this survey. Newsweek noted that the polls were conducted ahead of Tuesday night’s debate between Harris and Trump.