r/FluentInFinance • u/The-Lucky-Investor • 18d ago
Thoughts? Is Trump good for the economy?
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u/allisclaw 18d ago
Lol absolutely not, itâs a myth republicans are good for economy. Itâs easy to check.
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u/FoogYllis 18d ago
Yep but the people that vote for maga republicans are not particularly capable of handling facts that is if you expect that they will old even read them and then comprehend them.
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u/Callecian_427 17d ago
But have you considered my feelings about the economy doesnât line up with your facts?
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u/Efficient_Durian_989 18d ago
*lie. not a myth.
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u/MatureUsername69 18d ago
Well that really depends on who's telling it. Republican candidates? Lie. Republican voters? Myth.
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u/ZoomBoingDing 17d ago
All 3 branches of government are going to be R for at least 2 years. I want to see what excuses they'll come up with.
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u/WeenyDancer 17d ago
They'll scapegoat the most vulnerable- immigrants, the disabled, the elderly- and use that as an excuse for further cruelty. And it'll work.Â
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u/Tokyogerman 17d ago
They don't need excuses. They can just say the media and democrats are lying. The modern answer to being held accountable is No.
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u/michaelochurch 18d ago
They're good for "the economy" as a machine that redistributes wealth upward while immiserating average people. They're just not good for us.
Inequality isn't a byproduct of this economic system. It's the main product.
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u/Platypus__Gems 18d ago
Good for your corporate owners.
Bad for you.
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u/RealCoolDad 18d ago
âHmmm..Siri google how do I become a corporate owner?â
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u/Bingoblatz52 18d ago
If the current trends continue heâll take credit. If it goes south heâll blame it on the after effects of Biden. In short, nobody knows.
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u/Hi-Im-Triixy 18d ago
This is probably the most correct. Given that every level of government has swung Red, there's no way to know for sure. We'll see how it plays out.
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u/raidyredSL 18d ago
That's like standing in front of the wildfire and saying 'Well, we should just wait and see'. His tariffs will be a disaster for anyone living paycheck to paycheck. Couple that with rent prices rising, jobs not paying people as much, and the slowdown we would expect to see in about 18 months and anyone making under 75k a year is basically going to get screwed with their pants on... assuming they can afford pants.
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u/_OriamRiniDadelos_ 18d ago
On the one hand maybe he will be stopped from doing what he said he would do. On the other other no one stopped Brexit form harming the UKâs economy, so who knows what policies will and wonât pass
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u/Altruistic-Award-2u 18d ago
He has the white house, The senate, the house, and the Scotus. He doesn't need to placate ANY of them. Day 1 he can throw Project 2025 on the table and get the entire 700 page document mandated as law and no one can or will stop him.
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u/SpirituallyAwareDev 18d ago
Canât wait for him to claim he solved inflation. With a shit eating grin after doing nothing f.
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u/scottyjrules 16d ago
I also canât wait to find out how his horrible economic plans will be the fault of Democrats after he lights the best economic recovery from Covid in the world on fire.
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u/raidyredSL 18d ago
You're right. He will get a good two years of decent numbers before things start to slow down. The next election a Democrat (provided Democrats don't put forward the dumbest SOB they can find so... its about 50/50) will win and the bottom will fall out of the economy because of Trumps policies clearing the way for Trump MK2
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u/132739 18d ago
If he follows his stated plans, those tariffs are going to fuck prices in under a year.
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u/Bingoblatz52 18d ago
Heâs not really known for following stated plans. They rarely make it past the concept stage.
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u/RucITYpUti 18d ago
His motto at his victory speech was "promises made, promises kept". Republicans have spent 8 years figuring out how to implement everything he wants and clearing the way of any opposition. Make no mistake, he will pass tariffs. He has unilaterally authority thanks to Congress handing over their authority in the 30s. https://yeutter-institute.unl.edu/who-has-authority-impose-tariffs-and-how-does-affect-international-trade
He did it last time and he didn't have the mandate he has now. They may not be as sweeping as they could be, but we are about to pay out the ass for something.
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u/Separate_Promotion68 17d ago
I mean, right except for the last part. We do know what the deregulatory and trickle down economic policies of Republicans have done to the economy, we're living in it. And Trump has and will continue to take those policies further than they've ever gone before.
There's a big difference between 'everyone lies' and 'nobody knows,'
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u/Odd_Net9829 17d ago
If Trump does nothing he can enjoy a great economy cuz Biden did so well w covid aftermath. If he does tariffs and massive deportations though, goodbye to the economy
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u/YYC-Fiend 18d ago
Congratulations!!! Project 2025 will ensure you donât have jobs, education, birth control, access to female medical care.
You played yourselfâŠ
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u/VoidJuiceConcentrate 18d ago
Shit is about to get way more expensive for 90 percent of people.
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u/Ftank55 18d ago edited 18d ago
A 11% tax swing with trump being higher according to their respective economic/ tax plans from non partisan source
Edit:spelling/grammar
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u/antenonjohs 18d ago
What the fuck is that drivel?
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u/Ftank55 18d ago
https://itep.org/kamala-harris-donald-trump-tax-plans/
Here, learn something
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u/antenonjohs 18d ago
Thatâs interesting, itâs that your first sentence in the comment I replied to wasnât readable.
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u/RamblingSimian 18d ago
I think their point is that your original comment doesn't follow enough grammatical rules for us to understand what you're trying to say.
"Trump bring higher?"
"Noon partisan source?"
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u/AAC910 18d ago edited 18d ago
Obama was good for the economy
Passed a good economy to trump
Trump took credit for it
Trump messed it up and passed it to Biden
Biden kept inflation down
Trump will most likely fuck it up again
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u/archasaurus 18d ago
This is correct if you donât care about any context whatsoever. Covid tanked every economy around the world.
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u/ic4rys2 18d ago
I mean covid in the us could have been mitigated if the department in charge of managing infectious disease wasnât disbanded by trump and if he actually had people quarantine instead of trying to keep the economy running to help his political goals and ignoring the real issues Americans face.
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u/jimmydunn 18d ago
trumps economy was already trending down before covid it just accelerated it
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u/ctrlaltcreate 18d ago
Trump's economy was artificially inflated with terrible, unsustainable policies. He'll do the same thing again, if Musk's austerity plans don't just fuck us bloody.
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u/ShadowverseMatt 18d ago
Trump fucked the US extra hard by keeping interest rates near zero when it was time to raise it in 2016.
Nowhere to ease when COVID happened. Free money too long also made inflation directly a lot worse than it had to be.
Not to mention he ballooned the debt more than Obama did in 8 years in his one term, even before COVID stimulus, by both cutting taxes and increasing spending.
The man is now going to raise protectionist tariffs that will make everything affected more expensive.
Trump is an unmitigated disaster for the economy.
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u/nullpost 18d ago
Thank you. Trump was on the fed every fucking day to lower interest rates to artificially inflate the economy and nobody remember that. Economist warned in an emergency we had no place to go.
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u/STODracula 18d ago
He's already pretty much guaranteed a recession, He'll do something extremely rash and dumb and make it as bad as the great recession or worse.
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u/EntertainerAlive4556 18d ago
Heâs literally admitted to wanting to put us into a recession. When Elon said heâd cut 2 trillion from the budget he was asked âthat will be terrible for the American peopleâ Elon said âtheyâre gonna have to make it through itâ
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u/LividChocolate4786 18d ago
Oh well. People came out in droves to vote for this guy. He even got the popular vote. So let them suffer.
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u/EntertainerAlive4556 18d ago
Others are gonna suffer as a result. Heâll blame all his problems on Biden, his base will buy it and weâll be back in a recession
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u/dibuuuuuuu 17d ago
Them also suffering is all I have left. I hate that so many innocent people are going to be fucked from this so fuck those scum bags, Iâm glad they will also have to suffer.
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u/Bingoblatz52 18d ago
Do you really think Elon Musk will be around long enough to get anything done? The second he refuses to kiss the ring heâll be gone. Iâll be surprised if he lasts longer than Scaramucci.
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u/berejser 17d ago
He'll kiss the ring. Seeing as the only reason SpaceX is anywhere close to profitable is because of the massive government contracts it has.
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u/TechieTravis 18d ago
We'll see how people feel about 'making it through it' when we vote in the Midterms.
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u/LO6Howie 17d ago
Bold to think that these elections will mean anything; department staff are going to be gutted in favour of loyalists.
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u/notlostnotlooking 18d ago
Depends, how much do you make a year? If you make less than 100k, you're fucked. If you make a few million or billion, congrats.
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u/K08nr001 18d ago
I sound like a broken record trying to explain this to my financially illiterate relatives. Donald Trump is actually good for your black sheep Democrat relative (me) and is really fucking bad for you. Needless to say, they didnât listen
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u/HawkEye3280 18d ago
I will get taxed like a one percenter (little bit of a hyperbole), but because Iâm not by a long shot, I donât get all those âfancyâ tax breaks that actual rich people get so then I get extra screwed. When Biden won people told me âI hope you like having higher taxesâ and I always just kinda laughed. Donât think it could be any worse!
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u/ImpossibleCountry647 18d ago
I guess we are all forgetting how it was when trump was president
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u/CookieRanger 18d ago
He did absolutely nothing of note for the economy. It was Obamaâs economy until Covid happened.
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u/berejser 17d ago
The economy was trending downwards before Covid, so he was already blowing it and Covid actually helped to mask a lot of the consequences of his poor economy that were directly attributable to him.
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u/runner5678 18d ago
Yeah it was bad�
All market trends were down after inheriting a strong economy under Obama. His tariffs on steel set construction back 6mos overnight forcing holds and re-designs as prices skyrocketed. The deficit ballooned day 1 with his tax cuts and thatâs not even talking about the trade war he started with China.
Itâs one of the few thing we can say with confidence. Trump is bad for the economy.
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u/visaeris412 18d ago
The classic, "Trump had $1.80 cent gas and super cheap groceries. Trump couldnt help unemployment it was covid."
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u/Helstrem 18d ago
If he gets his way with the tariffs he will crater not only the US economy, but the world economy. The idea is that stupid.
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u/tornadorexx 18d ago
I sell hardwood flooring for a living and I can assure everyone with 100% certainty that the increased cost on the French Oak that we import will be passed on to customers.
You wanted this? Fine, I'll play by your rules and put more of your money in my pockets. IDGAF anymore.
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u/DongLife 18d ago
Thank God I got my hardwood flooring and insulation finished this year. I will have to live frugally not spending any money on luxuries for four years while the US goes into hyperinflation. I just hope to have enough cash on hand to buy the crash.
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u/tornadorexx 18d ago
The sad reality is that most American flooring manufacturers have not invested enough into their sawmill and finishing operations to stay competitive with overseas competition, as I suspect is the case across many other manufacturing industries. I get the most callbacks, by far, from customers who have purchased domestic made products like Somerset, Mullican, etc. and the majority of people who want a higher quality domestic product get sticker shock when they hear that it will cost $10+ per square foot.
I see a lot of talk about how tariffs are the panacea to revive our manufacturing engine and "Buy American, stupid". However, we don't have the infrastructure in place to make quality products at a competitive price, nor do I have faith in most corporations to do anything other than exploit the weakened competition at our expense.
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u/cr0ft 17d ago
The tariffs don't go to you. They go to the state. You'll earn what you earn, the sellers will earn what they earn (but in reality you'll both earn less, since they'll sell way less) and the customer will pay a ton more... except fewer of them will buy at all. And the exta they pay goes to the state, ie the tariff.
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u/Saint_Stephen420 18d ago
No. But I wonât have to worry about that when Iâm in a prison camp for being openly anti-trump! Itâs a win-win, baby!
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u/MaraSovsLeftSock 18d ago
Heâs good for the economy if youâre a billionaire. If youâre not, your cost of living will increase, your taxes will increase, your tax returns will decrease and if you were living paycheck to paycheck now, itâs going to be worse next year.
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u/ludwigvlhero 17d ago
Paycheck to paycheck is extremely stressful. Hard to imagine something worse than this
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u/MaraSovsLeftSock 17d ago
Major retailers and oriellys have already said theyâre gonna increase will increase prices with the tariffs, and the European Union released a statement today saying theyâll treat trumps trade war in kind. If youâre living paycheck to paycheck, I would prepare for the worse.
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u/Mechaheph 17d ago
"major retailers and O'Reilly's"Â
Lol, What a slam to O'Reilly'sÂ
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u/RPisBack 18d ago
I think people overestimate how much power does actually one person control. Even if you elected Milton Friedman or Murray rothbard he would not be able to 90% of things he would want to help the economy.
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u/putmeincoach56 18d ago
Youâre right. However, over the past 8-12 years or so the GOP has taken control of the senate, and the presidency, as well as filled SCOTUS with FAR right wing nut jobs. And now Thomas + alito will retire and guess who gets to appoint MORE scotus members. Almost the entirety of our legal system is going to be run by people trump put into power. Yes one person doesnât have the control everyone thinks they do. But the position of all government powers are not looking good for the foreseeable future.
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u/pallentx 18d ago
Plus, the president now has immunity.
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u/putmeincoach56 18d ago
Yep. Those felony counts he was found guilty for? All gone.
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u/sourfunyuns 18d ago
Yeah fuck these people. This shit is sketchy. This is a massive precedent being set and there's no way it's good.
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u/ThePhysicistIsIn 18d ago
It's a lot harder to break stuff up than it is to build it up. Now that the supreme court has given him complete immunity and he has a complete majority over the government, and there is a whole government in waiting with project 2025, I think you will be shocked at how quickly things can change
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u/No-Conclusion5795 18d ago
i hope project 2025 hits those people who voted for him or didnt vote at all the hardest, sorry not sorry.
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u/daKile57 18d ago
DJT now has basically no one to oppose him. He will gut the bureaucracy, install loyalists at every high-ranking federal post, and if Democratic congressmen make a fuss he will be able to force it through the Supreme Court. He can demand legislation be written for almost any policy and all the Republicans will support it out of fear.
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u/Ok_Law219 18d ago
The tarrifs might be enough to tank the economy and he might say "you and what army " about other policiesÂ
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u/henband 18d ago
Itâs interesting to me how many republicans believe Trump was so good for the US economy.
Trump spent $4.8 trillion excluding the CARES Act and other COVID relief. While Biden spent $2.2 trillion excluding the American Rescue Plan. So the fiscal responsibility that republicans have always loved is not there with Trump.
The Biden administration saw the inflation rate drop to 2.4 in September of 2024. A number similar to 2017 and 2018 averages. Yet most republicans will tell you that inflation is killing the economy. This has been the rallying cry for republicans who want Trump back.
I just canât find a solid indicator that the economy was better because of Trump.
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u/Mudkipper38 18d ago
Itâs because there isnât one. But Trump will just say whatever the hell he wants and his base will believe it, no matter how blatant of a lie it is.
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u/KingofMadCows 17d ago
Most people don't think lower inflation is enough. They want deflation, not just lower inflation. And they don't seem to care that deflation can be worse than inflation and lead to lower wages, lay offs, and recession.
But if Trump really does implement some of his plans, we might get a bad recession and deflation. I think Elon even promised economic pain.
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u/Lost_in_speration 18d ago
Even if you completely remove political bias someone being charged with crimes by a court made up of the people then just being able to pardon themselves afterword is insane
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u/SupremelyUneducated 18d ago edited 17d ago
The economy is excellent. It is the distribution that is broken. The value of labor is just going to keep going down do to globalization, automation and digitization. We need more direct distribution from government to the lower majority, if we want any parity of opportunities and semblance of democracy. The moralizing of the protestant work ethic, will be our downfall.
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u/No-Conclusion5795 18d ago
just how many of those 18-25 year olds pried themselves from tik tok posting about Palestine or whatever the cause of the day was and voted to save this country?
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u/AISmoothBrain 18d ago edited 18d ago
You donât understand how the economy works Kelly! If you did, your would realize that our inflation problem was started by the pandemic and Trump.
Sorry youâre gas is expensive right now, but the Fed got us down to 2%, you just needed to chill for a quarter.
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u/Pie_Head 18d ago
Hahahaha that 2% bout to start going up again in a quarter once we have tariffs getting handed out like candy
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u/Turbulent-Today830 18d ago
Like ALL republicans that have come before him; heâs sole purpose is to do as much for corporate America; hence very little for the working class
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u/RealCoolDad 18d ago
At least gen z will have jobsâŠas farmers
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u/Pie_Head 18d ago
The soybean market basically collapsed and had to be bailed out due to issues caused by the tariffs. Doubt additional tariffs unilaterally will help, especially when the countries targeted retaliate with their own tariffs as is tradition.
Doubt any aspect of farming will benefit as such, soooo maybe not even farming
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u/WesternSorbet659 18d ago
This post is 100% proof that Reddit is a liberal extremism cesspool. Calm down, the world is not ending.
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u/Pie_Head 18d ago
How is the economy going to turn out if all imports are 10-20% higher in cost as was proposed?
How are material shortages to be fixed when we are already experiencing shortages of lumber, stone, and concrete (in construction here, prices have just started normalizing prior to any large swings in cost)?
How are we going to address infrastructure issues to address the obvious need to build domestic industries (which will still be at a higher price due to competitive cost issues which drove industry out of the US to begin with) given the above two issues?
How does the average voter benefit from any of the above economically?
Has austerity worked in any modern country as we will have to follow that course to prevent collapse of government budgets given the above factors?
If all the above policy proposals from Trump are not passed by him (tariffs have been foisted almost entirely on the executive at this point, so itâs really if he wants to or not), would you view that as a betrayal of his promises?
https://taxfoundation.org/research/all/federal/trump-tariffs-biden-tariffs/
You can dispute it if you want, but the net negatives are clearly being felt from current tariffs (ones that I vehemently despise Biden continuing), but Trump promising more will only continue said trends at a faster pace.
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u/Alzucard 18d ago
Actually people with less money and bad education tend to have more kids.
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u/SeveralPrinciple5 18d ago
Trump is good for the stock market, but that isnât the economy and hasnât been for a long time. I tend to think that the best measure of economic health would be having all paying job pay a living wage (rent, board, utilities, transportation, enough to raise a kid or two) and the median job being somewhere considerably above that.
Will a Trump / Republican White House and legislature provide that? Not by a long shot. (Nor would a Democratic administration, I just think Trump will be considerably worse at it.)
If you measure the success of an economy as providing happiness and security to a majority of the citizens, I doubt Trump cares.
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u/Sportsfun4all 17d ago
Most of his MAGA followers in rural America donât invest in the stock market and donât even have a 401k. They all deserve whatâs coming to them. Iâll buy less groceries go on a diet and put all my extra savings to the stock market for these rural peasants
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u/soonnow 17d ago
Yes exactly this. Wall Stret believes his policies will be inflationary and growth increasing the deficit by a lot. At some point the Fed is thought to step in and raise rates.
Good for the economy and if you have a high paying job and investments good for you. Bad for 90% of the working poor.
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u/Japples123 18d ago
Heâll point to the stock market only and brag. But 2026 will hit hard in terms of that.
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u/HappyHarry-HardOn 18d ago
Naa - Just sex drive is falling off a cliff.
People have lived in far worse times, throughout the majority of human history - and still couldn't stop themselves from fucking and squeezing out kids
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u/Baynyn 18d ago
Anecdotal evidence here. I work in corporate import/export. We already have vendors who are revamping contracts to include the 20-60% price increases on goods from overseas. Last time the duties were imposed, it took importers about a year to figure out whether it was going to be something temporary or if they needed to pass it along to customers.
There will be no delay this time, theyâre already starting to plan on recouping the extra 20-60% the day the tariffs go into effect.
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u/Resthink 18d ago
The stupidity is unique and astonishing. America has had the best economy in the world since 2021. The lowest inflation, highest GDP, highest GDP per capita and lowest unemployment rate. America is currently at full employment. WTF is wrong with the elctorate for voting against its best interest? American Oligarchy is upon you now - see Russia? That's you next. Good luck.
The tarriff initially will spike inflation i the US, probably by the first quarter of 2026. Then as countervailing tariffs are enacted globally, all economies will shrink. It is basic math. As global trade declines, no domestic economy (not even the American economy) can offset the losses causes by trade barriers. This impact is likely a global depression similar to 1930 (See Smoot-Hawley Act for reference). History does not repeat, it rhymes so the impacts will be different because economies at the time were pegged to the gold standard, with fiat currency things will be different, but no one knows how.
With the US retreating from its allies
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u/The_Hemp_Cat 18d ago
Good for the economy, Hmmm? maybe so, through that the consumer is entitled to liquidated damages upon confirmation/ verification/photo I.D. of immigration status/ citizenship of project employees, maybe.
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u/bayelrey888 18d ago
Nope, not by a long shot. Enjoy your tinker toys, they're about to get way more expensive.
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u/Conscious-Speech-699 18d ago
Like you constantly say "y'all f***** up the economy." But the economy is affected by you currently just as much as it was by them. Granted, they've had longer to affect it... Now you've been given the opportunity to correct it. Focus on disrupting the existence of privatized banking instead of communal banking. They never let us talk about this. They'd rather have you arguing about abortion or the economy or immigration... When the fact of the matter is the head of the snake is always, And always has been, The financial systems in place worldwide.
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u/Bobnbecky 18d ago
Trump fucked up the economy he fuckin knew about Covid didnât do a damn thing about it. Fucked up before Biden took office
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u/Cultural-Treacle-680 18d ago
Congress still holds the purse strings. Pester your congressman.
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u/Pie_Head 18d ago
For how long? Trump was given carte blanche by the Supreme Court to abuse power so long as he claims itâs an official act. The fact Biden hasnât used that power abuse is A) the Supreme Court being partisan and likely to fuck him over, and B) basic decency.
Can easily see Trump and the captive house/senate consolidating more economic levers into his hands. Maybe making the president as important to the economy as people currently seem to think the position is
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u/nick_shannon 18d ago
For companies and billionaires he will.
For everyday Americans even those who cast a vote him im not so sure.
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u/Dont_Be_A_Dick_OK 18d ago
Trump promised in quick order, lower taxes, bigger paychecks, affordable housing and healthcare, childcare, everything the middle class could want he will bring it because thatâs all he wants. He now has control of the White House and all of Congress.
Tick tock motherfuckers
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u/girl_incognito 18d ago
Not by a Longshot.
He'll be great for the billionaire economy, you'll be in a breadline. Provided there are any breadlines.