1980 All Over Again

Just two weeks before the presidential election, Wilbur Ross and Peter Navarro wrote an oped article for the Wall Street Journal entitled, “A Vote for Trump is a Vote for Growth.”  Mr. Ross is a renowned investor and Mr. Navarro is a professor at The University of California, Irvine.  Both are members of Trump’s economic policy team.

They asked the question, “Which candidate has the best economic plan to get America growing again?”

Donald Trump will cut taxes, reduce regulation, eliminate unfair trade deals and repatriate $3 trillion overseas profits.  All this and more will lead to 25 million new jobs.

The central part of Hillary Clinton’s economic plan is taxation.  Many of today’s writers think her win is inevitable and that there is a growing concern among Republicans that this could be a wave election with Democrats taking the White House and most of the down ballot elections.

The 2016 election very much mirrors what happened in 1980 when polling showed a Carter re-election.  The media disregarded the anger in the country over the Iran hostage takeover and how the president, facing Saudi price gouging and supply limitations, could only recommend wearing a warm sweater and turning off Christmas lights to save electricity.

We have the same voter anger today that is masked by rigged polling numbers.  That is why on October 24, while Hillary’s running mate Tim Kaine was speaking to 30 people at a rally in West Palm Beach, across the state in Tampa, Donald Trump’s attendance total approached 20,000 individuals who had camped out after driving hundreds of miles to see him.  The numbers just don’t lie.

Although it has been proven time and again that higher taxes on business and individuals reduce incentives to work and invest, the Clinton Plan is proposing higher taxes on Americans making more than $250,000.  It also includes a 4 percent “fair share surcharge” on incomes over $5 million a year.

Hillary Clinton has also vowed to put coal miners and their companies out of business and to carry on the Obama legacy.

The Clinton team gave us NAFTA in 1993 and the China entry into the World Trade organization in 2001.  It is now poised to pass the worst deal yet, the Trans-Pacific Partnership, which will “decimate our manufacturing base.”

As the Ross-Navarro article accurately points out, most think tanks only consider the competing tax plans, not the overall economic plans.  The common theory is by reducing taxes, the deficit automatically rises.  Under the Obama Administration, the national debt has doubled to $20 trillion and taxes have not gone down.

When you reduce regulation, lower energy costs and eliminate trade deficits each leads to greater economic growth.

What we have today is the worst economic recovery since World War II.  What the Democrats would like you to believe is the “new normal” is economic growth of around one percent or less and the jobs lost will never come back.

In the WSJ article, just two years ago, according to a 2014 analysis by the Senate Budget Committee, nearly one in four Americans in their prime working years (ages 25-54) were jobless.  This is not the new normal.  “It’s the new dismal.”

Expect analysis and journalists to continue to do a tremendous disservice by not analyzing the complete Clinton and Trump economic plans.

Americans are too smart.  They know they have been robbed of a decent education and economic opportunities.  On November 8 they will have their Judgement Day.