A group of 16 Nobel Prize winners in Economics warned this Tuesday that the proposals of the Republican candidate for the US presidency, Donald Trump, will reactivate inflation and cause prolonged damage to the country’s economy.
“Although each of us has different views on the details of economic policies, We all agree that Joe Biden’s economic agenda is much better than Donald Trump’s.“say the academics in a letter to which the Axios website had access.
The text is signed, first of all, by one of the 2021 Nobel Prize winners in Economics, Joseph Stiglitz, accompanied by George A. Akerlof (2001), Angus Deaton (2015), Cláudia Goldin (2023), Oliver Hart (2016), Eric S. Maskin (2007), Daniel L. McFadden (2000) and Paul R. Milgrom (2020).
Completing the list are Roger B. Myerson (2007), Edmund S. Phelps (2006), Paul M. Romer (2018), Alvin E. Roth (2012), William F. Sharpe (1990), Robert J. Shiller (2013) . ), Christopher A. Sins (2011) and Robert B. Wilson (2020).
Economists say a second Trump term would have “a negative impact on the economic position of the United States in the world and a destabilizing effect on the country’s domestic economy”.
“Many Americans are worried about inflation, and Donald Trump could reignite it with his fiscally irresponsible budgets,” the experts wrote.
In addition, the economy should be one of the main topics of the first debate of the presidential campaign, broadcast by CNN on Thursday, between US President Joe Biden and Donald Trump.
Among Trump’s proposals are a 10% universal minimum tax on all imports and a 60% tariff on Chinese products.
In addition, the magnate promises American companies to reduce their taxation from 21% to 20% and intends to eliminate taxes on tips for workers in the leisure and hospitality sectors.
In turn, Biden maintains the plan to increase taxes on companies and not increase them on families that earn less than $400,000 annually.
Source: Observadora
