In this article, Menzie Chinn and Mark Copelovitch present two distinct economic paths for voters in the 2024 presidential election. One path associated with Donald Trump leans towards economic isolationism, deregulation, and significant tax cuts for high-income households financed by large government deficits. The second path, represented by Kamala Harris, focuses on supporting the middle class through tax policies, maintaining international economic engagement, and investing in infrastructure.
Menzie Chinn and Mark Copelovitch also stress that economic choices in November could significantly affect future growth. Trump’s plans involve costly tax cuts and tariffs that many economists predict would harm the economy. However, Harris’s proposals aim to reduce inequality and invest in human capital, potentially fostering more stable growth. Additionally, independent analyses suggest that Trump’s agenda would likely slow economic growth and increase government debt. Yet, Harris’s policies would support broader economic benefits and maintain the momentum of the recent recovery. Overall, the article advocates for evidence-based decision-making regarding economic policies in the election.
The full article can be found HERE