If you listen to Donald Trump speak at any of his rally’s, it is clear that he says he is committed to turning the U.S. economy around. Trump has even gone as far to reveal his plans to make these changes, although they tend to come off like that of a carnival barker trying to squeeze every last penny out of his audience for his own personal gain. The mainstream media has been having a field day tearing apart Trump’s economic plan, and now it is time to reveal why this plan is such a bad idea.
Here are 8 ways Trump will ruin US economy and leave the country in far worse shape than it is today.
1. Lowering Taxes on the Middle Class
The reason Trump is promising to lower taxes on the middle class is for one reason, this is his crowd. The middle class eat up his nonsense rally after rally. These working class stiffs are fed up with career politicians, and they think that Trump is the savior for the country. The idea of them having lower taxes is appealing, but who will front the bill to turn around the economy for the rest of the country. The poor are unable pay taxes, and the rich are getting more tax breaks each year. With no one paying any taxes, it will only be a matter of time before the economy crumbles.
2. Lowering Business Taxes
So under the Trump economic plan, no business running in America will have to pay more than 15% in taxes. Couple that with the middle class paying less taxes, and you have the beginning of a very dangerous situation. The country will run out of money sooner than later, and we will all fall off that economic cliff sooner than expected. The reason Trump was able to pull the wool over the eyes of the voters in this country is because he would tell those that came to his campaigns Hillary was raising taxes for small business to 50% or more. His plan of bringing back business that left for other countries is built on false promises with no foundation.
3. Exempting Childcare Expenses
Working couples with children are bring promised a huge blessing if Trump has it his way in the form of an exemption from paying taxes on childcare expenses. The reason Trump has proposed this change is simple, he knows that this will appeal to the middle class women that he was terrified would blindly back Clinton. While it appeared to have worked, what will Trump do now that he is the president-elect? Now that these families have sided with Trump, where will the money come from to pay for these exemptions?