Predicted Economic Impacts by 2016 Presidential Candidates Essay Example
The economic impact is the outcome of a policy, event, or decision that generates a microeconomic effect on commerce, employment, or incomes.
This paper analyzes the economic impact of campaign promises made by Donald Trump and Hillary Clinton in relation to immigration, trade, taxes, and foreign policies. As a Republican candidate, Trump's proposals include withdrawing from the transpacific partnership and negotiating with NAFTA partners to revitalize manufacturing. However, his suggestion of imposing tariffs on goods from Mexico and China would violate international trade regulations. He also aims to replace Obamacare with a market-based alternative, renegotiate the Iran deal, cut taxes (which may lead to a $10 trillion federal deficit increase over the next decade), and acquire ISIS-controlled oil as a means of cutting off funding for terrorism.
On the other hand, as a Democratic candidate, Hillary Clinton presented an economic plan focused on sti
...mulating growth through tax cuts for small businesses and the middle class. She aimed to achieve equitable economic expansion and sustainable growth by increasing workers' income and addressing concerns related to "quarterly capitalism." Her tax plan includes introducing a 4% surcharge on annual incomes exceeding $5 million. Furthermore, Clinton emphasized the importance of enhancing foreign relations and defense.According to a source from "short-term impact of Brexit" (2016, p.66), the individual not only voiced opposition to the existing transpacific partnership but also advocated for its focus on job creation, wage hikes, and national security.
Government officials' decisions on microeconomics have a significant impact on employment, income, and commerce. Hillary Clinton supports the Keynesian theory, while Donald Trump advocates for supply side economics (Skott, n.d., p. 344).
References
- Hart, A. (2016). Economic Voting
doi:10.1017/cbo9781316556764
The article titled "Keynesian Theory and the Aggregate-Supply/Aggregate-Demand Framework: A Defense" in the SSRN Electronic Journal defends Keynesian Theory while operating within the framework of Aggregate-Supply/Aggregate-Demand. To access the article, visit doi:10.2139/ssrn.75888.
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