A Trump Economy Beats Clinton’s His plans that would get the U.S. back on track include the biggest pro-growth tax cut since 1981 and repeal of ObamaCare.By Andy Puzder and Stephen Moore
http://www.wsj.com/articles/a-trump-economy-beats-clintons-1468537348
Certain business leaders and prominent conservatives have denounced Donald Trump’s economic policies and even argued that Hillary Clinton would be a better choice in November. This is hard to fathom. Although we disagree with him on some issues, we have both signed on as economic advisers to Mr. Trump because we are confident in the direction he would take the country.
What could possibly be the economic case for Mrs. Clinton? She has vowed to defend President Obama’s “legacy” and double down on job-killers like ObamaCare. Even Bill Clinton knows that the status quo hasn’t worked: In March he told a crowd that it is time to “put the awful legacy of the last eight years behind us.”
Since the end of the recession, economic growth has averaged an anemic 2.1%, producing the weakest “recovery” since the Great Depression. That has slowed to 1.4% in the last quarter of 2015 and 1.1% in the first quarter of 2016. The middle class is shrinking, and median household income today, in real terms, is lower than when Mr. Obama took office. By more than two to one, Americans believe the country is on the wrong track.
What does Mr. Trump offer as an alternative?
• The biggest pro-growth tax cut since Ronald Reagan’s 1981 reform. Mr. Trump would simplify the tax code and significantly reduce marginal rates, encouraging investment and economic expansion. His proposed corporate tax rate of 15% would make it easier for American firms to repatriate earnings, bringing capital home and making the U.S. a more hospitable place to invest. Mr. Trump’s tax plan would do more for working-class and middle-class families than any scheme to redistribute income.
Don’t believe the phony claim that it will cost $10 trillion over a decade. As Americans will see when he reveals the entire plan in the next few weeks, any revenue loss would be a fraction of that amount.
• The repeal of ObamaCare, the fastest-growing entitlement program of all. Mr. Trump promises to replace the law with a consumer-choice health plan. He also wants to immediately repeal dozens of President Obama’s antibusiness executive orders.
• A pro-growth energy policy. Mr. Trump wants to employ all of America’s abundant resources—oil, natural gas and coal. His plan could make America the world’s No. 1 energy producer within five years, producing millions of new jobs and trillions of dollars of extra output—along with new royalty payments to the government. Mrs. Clinton, by contrast, brags that she would put “a lot of coal miners” out of work.
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