Nobel laureate Paul Krugman argues that Donald Trump’s economic policies, despite their appeal to the working class, will ultimately harm them. Krugman criticizes Trump’s plans to raise tariffs and cut taxes, predicting that these will increase prices for everyday goods while disproportionately benefiting the wealthy. The economist highlights the disconnect between Trump’s promises of lower grocery prices and the reality of rising inflation, characterizing this as a “scam” due to a lack of a viable plan. Furthermore, Krugman warns of negative consequences from Trump’s proposed tariffs and mass deportations, anticipating significant economic disruption and higher prices.
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Paul Krugman’s recent column highlights the looming threat of unchecked crony capitalism under a second Trump administration. This includes blatant conflicts of interest, such as Elon Musk and Vivek Ramaswamy’s involvement in regulatory cuts benefiting their own companies, and allegations of shakedowns by Trump aides for political appointments. Further exacerbating the situation, Trump’s proposed tariffs and disregard for established trade deals will likely lead to a surge in backroom deals and corruption. The weakening of regulatory bodies and the judiciary’s potential grant of immunity to Trump will only further enable this self-serving behavior, pushing the nation toward a perilous and dysfunctional future.
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John Q. Hosedrinker