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Trumps plan to defeat inflation - What do yall think?

Posted on 9/7/24 at 12:42 pm
Posted by boomtown143
Member since May 2019
9407 posts
Posted on 9/7/24 at 12:42 pm
What say you?
I'd post Kamala's, but she doesn't have one.

https://x.com/DanScavino/status/1831785648212046320

quote:

FIRST, President Trump will immediately issue a National Emergency Declaration to achieve a massive increase in domestic energy supply. With these sweeping authorities, he will blast through every bureaucratic hurdle to issue rapid approvals for new drilling, new pipelines, new refineries, and new power plants and reactors. Prices will fall immediately in anticipation of new supply.


quote:

SECOND, to further defeat inflation, President Trump will terminate the Green New Deal and rescind all unspent funds under the misnamed “Inflation Reduction Act.”


quote:

THIRD, President Trump will launch a historic campaign to liberate our economy from the crippling regulatory onslaught under Kamala Harris. In his second term, President Trump will eliminate a minimum of TEN old regulations for every one new regulation, which will massively lower prices and help defeat inflation. And instead of attacking industries of the future, President Trump will embrace them, including making America the world-capital for crypto and Bitcoin.


quote:

FOURTH, at the suggestion of
@ElonMusk, President Trump will create a Government Efficiency Commission tasked with conducting a complete financial and performance audit of the entire federal government—and making recommendations for drastic reforms, which will save TRILLIONS of dollars—further taming inflation and bringing prices down.


quote:

FIFTH, President Trump will make the 2017 Tax Cuts and Jobs Act permanent, cut taxes even more, and we will have NO TAX ON TIPS and NO TAX ON SOCIAL SECURITY BENEFITS. To further support the revival of American manufacturing, President Trump’s plan calls for expanded R&D tax credits, 100% bonus depreciation, expensing for new manufacturing investments, and a reduction in the corporate tax rate from 21% to 15% solely for companies that make their product in America. If you outsource, offshore, or replace American workers you are not eligible for any of these benefits—in fact, you will pay a tariff when a product comes in from another country.


quote:

SIXTH, under President Trump’s leadership, America will encourage domestic production instead of punishing it, and once again turn America into the manufacturing superpower of the world. The key to this effort will be a pro-American trade policy that uses tariffs to encourage production here and bring trillions of dollars home. President Trump will ensure that the United States has a steel industry, an aluminum industry, a manufacturing base, and a defense industrial base.


quote:

SEVENTH, President Trump will make housing much more affordable. As inflation is tamed, interest rates will fall dramatically—reducing mortgage rates back down toward 3%, saving the average homebuyer thousands of dollars per year. He will eliminate regulations that drive up housing costs with the goal of cutting the cost of new home builds in half—and a second Trump Administration will open up portions of federal land for large-scale housing construction—these zones will be ultra-low-tax and low-regulation. Millions of Americans will take part in settling these safe and beautiful communities, reviving the frontier spirit and the American Dream.

This post was edited on 9/7/24 at 12:42 pm
Posted by achenator
Member since Oct 2014
3162 posts
Posted on 9/7/24 at 1:39 pm to
He has also said "baseline tariffs of 10 percent on anything from China." Just a tax on consumers IMO. I'm on board with the other stuff.

Also I don't believe the part about fast tracking new refineries and such. That takes a decade or more to develop and companies are going to be hesitant because he'll be gone in 4 years. A Democrat can come and pull the rug out.
This post was edited on 9/7/24 at 1:57 pm
Posted by rowbear1922
Houston, TX
Member since Oct 2008
15596 posts
Posted on 9/7/24 at 1:39 pm to
I just wish we had a decent candidate to vote for
Posted by Teauxler
Baton Rouge
Member since Jan 2010
3495 posts
Posted on 9/7/24 at 1:48 pm to
Can we compare to Kamala’s plan ?
Posted by r3lay3r
EBR
Member since Oct 2016
2222 posts
Posted on 9/7/24 at 2:06 pm to
Like most things Trump, it's devoid of reality, a fairy tale.
Posted by SEC. 593
Chicago
Member since Aug 2012
4287 posts
Posted on 9/7/24 at 2:24 pm to
Energy cost aren't driving inflation.

The IRA is a federal law and he can't rescind unspent money without another federal law.

Posted by Shepherd88
Member since Dec 2013
4818 posts
Posted on 9/7/24 at 2:55 pm to
Exactly. I’m all for nuclear power as well but it takes like 10 years to build a reactor and get it online. There’s no price anticipation of that happening in his term.

Current inflation drivers right now are housing and insurance.
Posted by shamrock
Baton Rouge
Member since Sep 2015
3930 posts
Posted on 9/7/24 at 2:59 pm to
What’s ya girl’s plan playa?
Posted by r3lay3r
EBR
Member since Oct 2016
2222 posts
Posted on 9/7/24 at 3:09 pm to
Not my gal. Just stating the obvious.
Posted by bigjoe1
Member since Jan 2024
931 posts
Posted on 9/7/24 at 3:12 pm to
I doubt you see a huge expansion in drilling and exploration. Big oil is tired of boom and bust cycles. They seem content to increase shareholder value by raising dividends and stock buy backs.
Posted by lynxcat
Member since Jan 2008
24738 posts
Posted on 9/7/24 at 4:38 pm to
No plan is needed except to stop printing money.
Posted by UltimaParadox
North Carolina
Member since Nov 2008
47375 posts
Posted on 9/7/24 at 6:42 pm to
Really don't see much in the plan posted here that will actually help much with inflation.

A lot of politicking here though with made in America while good, wil actually drive prices up.
This post was edited on 9/7/24 at 10:50 pm
Posted by fallguy_1978
Best States #50
Member since Feb 2018
51881 posts
Posted on 9/7/24 at 8:04 pm to
quote:

No plan is needed except to stop printing money.

Which neither will do. Hell, we can't do it without SS and Medicare cuts or tax increases.
Posted by Twenty 49
Shreveport
Member since Jun 2014
20150 posts
Posted on 9/7/24 at 8:48 pm to
Trump loves pressuring the fed for low interest rates (since he’s in perpetual huge debt) and issuing stimulus checks and such with his name on them. Those things are not good for cutting inflation.

If he can lower his debt service, but it means the country suffers more inflation as a result, get ready for more inflation.
Posted by GusAU
Member since Mar 2014
4758 posts
Posted on 9/8/24 at 5:18 am to
quote:

I just wish we had a decent candidate to vote for
Keep losing loser.
Posted by faraway
Member since Nov 2022
3277 posts
Posted on 9/8/24 at 7:30 am to
quote:

No plan is needed except to stop printing money.
that will only stop it from increasing. we need money taken out of rotation (quantitative tightening). that is absolutely the only thing that reduces inflation. all other talk is lies and stupidity.
Posted by Clint Torres
Member since Oct 2011
2791 posts
Posted on 9/8/24 at 7:57 am to
Why didn’t they make the tax cuts permanent when it passed in 2017?

Posted by Hateradedrink
Member since May 2023
3201 posts
Posted on 9/8/24 at 8:52 am to
Trump wants low interest rates and above average inflation. He has not even hid this. The sticking point is he wants purchasing power to increase at the same time.

Trump will NOT lower “inflation”. Trump MIGHT improve how the average joes life is affected day to day by inflation.


He is on record with a consistent message from 2015, 2020, and to present, stating how we have to devalue the dollar.
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
55704 posts
Posted on 9/8/24 at 8:52 am to
FIRST
I like the idea of increasing domestic energy supply, especially the part about removing barriers for permitting of new/expanded refineries, power plants and reactors (our big bottleneck for gasoline prices is refinement capacity, for example). The next step on fighting that fight though is it takes years to build new refineries and power plants. There's no guarantee that the person(s) following him will have the same vision unless he can get some sort of legislative declaration that once these projects start, they'll be grandfathered under the laws their projects began under for life.

SECOND
Again, I like the idea. I would hope any remaining funds go towards paying down the debt. It would only be a drop in the bucket, but I would take at least a drop over the nothing we've had for over two decades now.

THIRD
This worked pretty well last time, bring on more!

FOURTH
Same, except he's going to need to give Elon and that commission some hefty powers or else they'll spend their time being shut down by the bureaucracy they are trying to fix.

FIFTH
Should have been done in his first term, would have been done if the RINOs in Congress weren't such short-sighted cowards.

SIXTH
Any tariffs should be reciprocal, thus being used only as a tool for negotiating better trade deals. There is a big problem here though as we have become far too dependent on foreign trade. With that, he would need to push various other domestic reforms as a priority over tariffs, with tariffs being at the bottom of the list.

SEVENTH
The only way we're managing inflation is to cut federal debt creation and there's nowhere near enough elected officials in DC to make this happen unless we're in a fricking Depression (and even then I would wager cuts would still fall short of what would be needed). To make cuts happen (cuts to total spending, not just cutting the growth of spending). He would need a large enough coalition in Congress with enough balls to risk their re-elections and then all would have to be willing to make it the only topic they will discuss with reporters, talking heads, etc. In other words, it ain't happening.
Posted by KWL85
Member since Mar 2023
2297 posts
Posted on 9/8/24 at 10:03 am to
I doubt this would reduce inflation.

Inflation is under 3%. At least, the reported number is, but that is our gauge. It is no longer the problem it was.
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