There they are. It’s time to vote and make your voice count. This is the most important election of my life and I have already voted. In Oregon, we’ve been using mail-in ballots since 1998. They are very easy and did not cause many problems. Losers who refuse to accept defeat make a lot of noise about voter fraud without evidence. They have the right to be bullies who get their way by bluffing and lying. Voting for those people will undermine the democratic process. Don’t fall for their lies!
It’s the Economy
The RB40 family has done very well financially over the past 4 years. COVID was hard on everyone, but we came out on top. Sure, our monthly expenses are higher, but our overall value is up a bit. I feel we are doing very well. The US economy is the envy of the world; life is strong almost anywhere. Thank goodness we live in the United States.
What about you? Are you better than 4 years ago?
Loading…Trump’s Economic Plan
I realize that not everyone is better than the last 4. Young people are having a hard time with high house prices and inflation. Many small businesses were destroyed by the epidemic and never recovered. Many people were fired and could not find the same job. The past four years have been difficult for many of us. You can hope that Trump will improve the economy because he is a billionaire businessman. However, I have bad news for you. Trump will destroy the US economy like he did with his casinos.
20% Price
Trump wants to impose a 20% tariff on all imports. Unfortunately, American consumers will bear the brunt of this price. Margins are small on imported goods so the 20% tax will be passed on to consumers. It will also start a new trade war with the rest of the world and reduce our export market. Inflation has recently come down to an acceptable level, do you really want high inflation again?
Eliminate Federal income tax
We’ll skip this one. Trump has said he is open to eliminating the income tax, but he wants votes. The 20% tax rate will not be enough to cover the Federal income tax. The deficit will explode if the Federal income tax is eliminated.
Eliminate taxes on Social Security benefits
Eliminating taxes on Social Security benefits sounds attractive, but it will speed up the payout of Social Security trust funds by several years. You may see reduced benefits as early as 2031. Are you ready for that?
Deport illegal immigrants
No question, Democrats have mistreated immigrants. We need to strengthen the border and reduce illegal immigration. However, bringing back the concentration camps is the wrong answer. Trump wants to use the Alien Enemies Act of 1798 to round up illegal immigrants and deport them. During World War II, more than 100,000 Japanese Americans were forced into concentration camps throughout the United States. Many lost their homes and businesses because of “failure to pay taxes.” This was a shameful chapter in the history book. Do we want to do that again? They will start with illegal immigrants, but who knows where it will end. Putting people in concentration camps is a slippery slope. As an immigrant, I am totally against this.
From an economic perspective, mass layoffs would eliminate a large portion of our workforce. Businesses may have fewer employees and less productivity. Economists estimate that mass deportations could reduce GDP by 8% and cause a recession.
Trump’s plan will disrupt the American economy
Inflation will increase. The deficit will explode. GDP will decrease. The US economy will collapse if Trump successfully implements his economic policies. Inequality will increase. If you do well now, you will probably be fine. If you’re struggling, life will be even harder under Trump.
Harris’ Economic Plan
Harris’ economic plan is very similar, but that’s not bad. The last 4 years have been great. Inflation has been a challenge for a few years, but it is manageable now. Many of us are going through this pandemic. Unemployment is low and more people are earning more today than ever before. People just don’t like paying higher prices than before.
Raise taxes on the rich
Harris plans to raise taxes on the rich and big corporations. He also wants to cut taxes for low- and middle-income families by expanding the child tax credit and the earned income tax credit. Harris’ plan is ongoing and will bring more benefits to low- and middle-income families.
Raise the minimum wage
Harris has advocated for a lower minimum wage and eliminating the minimum wage. I think this is a good idea. Workers need a salary that can be earned.
Prevent price gouging
Details are very thin on this one. How will they prevent price cuts? I don’t think this will work. The overhead will probably be more expensive.
Harris’s plan is better
Harris’ economic plan is soft, but the US economy is doing very well. We don’t need to worry too much about it. His plan will benefit low and middle class families. Trump is full of Dunning-Kruger and thinks he can do better than economists. The history book is full of dictators who damaged the economy of their countries with misguided economic programs. I don’t want to see the US there.
Go Vote!
The important thing is to vote. Voting is a basic right of every US citizen. You need to take responsibility and exercise your right to vote. Who knows? This could be the last time your vote is counted. If you support a fascist, you may not vote again in 4 years. Trump already tried to overturn the election in 2000. If he becomes the next president, he will have plenty of time to consolidate power.
Have you voted yet? What are you waiting for? Vote early if you can because election day is going to be crazy.
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A minimum wage is the key to early retirement. This year, Joe is investing in real estate with CrowdStreet. They have many projects all over the USA so check them out!
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