Trump's new problem: His lead on economic issues is gone
Source: CNN Money
No matter how far behind he was in the polls, Donald Trump always led in one key area: The economy. Now Hillary Clinton has closed that gap.
As recently as mid-July, when voters were asked which candidate "would better handle the economy," they picked Trump over Clinton by a wide margin (54% to 43%), according to CNN/ORC polling.
Now Clinton has the edge. In the most recent CNN/ORC poll, conducted July 29 to 31, Clinton was ahead on the economy question, 50% to 48%.
"It's almost certainly a direct result of a successful, professional, polished convention," said Larry Sabato, director for the Center for Politics at the University of Virginia.
Read more: http://money.cnn.com/2016/08/14/news/economy/donald-trump-hillary-clinton-economy/index.html?iid=hp-toplead-dom
PSPS
(13,620 posts)ailsagirl
(22,899 posts)Who love everything about him
TomCADem
(17,390 posts)Interesting that a Reagan/Bush policy adviser essentially concedes that tax cuts do not automatically lead to economic growth.
http://www.nytimes.com/2016/08/13/opinion/campaign-stops/trumps-misguided-embrace-of-tax-cuts.html
I know something about the Reagan tax cut. In 1977, while working for Representative Jack Kemp, Republican of New York, I drafted the Kemp-Roth tax bill, which Reagan sent to Congress in early 1981. The law cut statutory tax rates by about 25 percent across the board.
It is G.O.P. dogma that the Reagan tax cut set off an economic boom. Every Republican presidential nominee since the 1980s has promised big tax cuts and another economic surge. Tax increases, Republicans believe, are the kiss of death for the economy.
While Mr. Trump has been unafraid to differ with Republican doctrine on many issues, such as Iraq and trade, he is embracing party orthodoxy on taxes. But the Reagan tax cut is not the medicine the economy needs.
Tax rates were very high when Reagan proposed cutting them much higher than today. The high tax rates from the World War II era had been only partly cut by John F. Kennedy, and the top income-tax rate was 70 percent. Inflation was pushing workers into higher tax brackets when they received cost-of-living pay raises.
progree
(10,921 posts)The presumptive Republican presidential nominee suggested in a phone interview Thursday with CNBC that he would stimulate growth through borrowing. If trouble arose, he added, he could get investors to accept reduced payments for their Treasury holdings.
...I would borrow, knowing that if the economy crashed, you could make a deal, Trump told CNBC.
...Trump has touted his acumen for restructuring four of his companies under bankruptcy laws. When Trump Hotels & Casinos finished a 2004 bankruptcy reorganization, it cut $500 million off $1.8 billion in debt and reduced the interest rate to 8 percent from 15 percent.
I dont think its a failure its a success, Trump told The Associated Press at the time.
Source: "A Trump proposal for national debt would send rates soaring, AP, 5/6/16"
https://www.yahoo.com/news/trump-proposal-national-debt-send-184432030.html
SunSeeker
(51,734 posts)Wounded Bear
(58,726 posts)is basically the same old warmed over Reaganomics/supply side/Chicago school crap that got us in this mess.
The people are finally waking up. TPTB may not like it, but the real "populist" movement right now is more "Tax the rich bastards" than "take it easy on the job creators." We can thank Bernie for elevating that as much as he did, but also thank Hillary for altering the Dem platform to reflect this to the extent that it does.
Momentum is building to a swing back to true progressive values.
TeamPooka
(24,261 posts)understands the economy America.
riversedge
(70,322 posts)This story fits with the OP
Former George W. Bush Cabinet Member Backs Hillary Clinton
http://time.com/4451658/hillary-clinton-carlos-gutierrez-george-w-bush/?xid=time_socialflow_twitter
Mahita Gajanan @mahitagajanan
12:43 PM ET
?quality=75&strip=color&w=1100
Getty Images Former Secretary of Commerce Carlos Gutierrez attends a luncheon following a meeting of the business council at the chamber's headquarters in Washington on Feb. 16, 2016.
'I don't want to go back fifty years'
Carlos Gutierrez, the former Secretary of Commerce under President George W. Bush, has joined the ranks of Republicans who are supporting Democratic nominee Hillary Clinton over Republican nominee Donald Trump.
Gutierrez said Clinton would make a darned good president and be better for the U.S. economy, calling Trumps economic policies a disaster during an interview with CNNs Jake Tapper. While Gutierrez agrees with Trumps free trade platform, he said the Republican nominees economic policies would harm the country.
The economys important to me. His plan, I love the tax cuts, Im a Republican, but then he has this sort of import substitution strategy, which is a strategy like an underdeveloped country, very poor countries think that way, he said. (The idea) that we have to substitute our imports. That would be a disaster.....................
TWEET:
TIME.com Verified account
?@TIME
Former George W. Bush Cabinet member Carlos Gutierrez backs Hillary Clinton
Kyblue1
(216 posts)Has had an effect. Thanks to Dave Letterman.
Kyblue1
(216 posts)Correction: "other" countries
Liberalagogo
(1,770 posts)As recently as mid-July, when voters were asked which candidate "would better handle the economy," they picked Trump over Clinton by a wide margin (54% to 43%), according to CNN/ORC polling.
Did they just ask stupid people?
Moonwalk
(2,322 posts)...Back in July, Trump wasn't giving out any details of his plans to turn around the economy. He was just saying "I'm a successful business man, and unlike career politicians, I know how to do this!" It's all part of the new American myth. The old one was the Horatio Alger myth that anyone could, with hard work, be president, even the poor kid from a log cabin. The new one is that of the brilliant outsider, who, not being in the box, can come up with some amazingly easy answer to solve a long-standing problem. Like Steve Jobs re-imagining the phone, and changing everything.
Trump put himself forward as being that. The "outside-the-box" thinker. And he didn't have to explain his plan at that point. He could just say, "I've a plan..." And people imagined that it was something that would blow their minds once he told them what it was.
But since then, he's been exposed as (1) A terrible business man (which puts doubts on his claims that his business acumen makes him superior to career politicians in coming up with an economic plan), and (2) someone who is willing to rehash old ideas rather than presenting some new and astonishing ideas. So, it's not that the voters polled in July were stupid (though they were), or that now the voters polled are smart (they're not), it's just that Trump has pulled back the curtain, said "Ta-Da" and gotten the inevitable sad trombone reaction from his audience ("Wah-wah...That's it? That's all you've got?" . These numbers reflect those who've realized that the wizard ain't no wizard.
Moonwalk
(2,322 posts)...of Clinton saying exactly what she'll do to help the economy vs. Trump's first vague then incoherent, re-warmed Reganomics plan. I mean, could Trump have been any more lack-luster about that economic plan? He not only made it clear he hadn't come up with it, and hadn't written a word of it, but that he, himself, didn't understand it...which he probably didn't as an economics master-mind he is not.
If you're going to present an economic plan to people, you have to at least *SOUND* like you understand it and believe it will work. Which is why Reagan was able to sell his trickle-down to gullible voters in 1980. Of course, it probably helps that 2016 voters in states like Kansas, on hearing such ideas, now scream "Hell no!"
Too funny, drumpf gives a "major" speech on economics and his numbers plummet, who would have guessed.
red dog 1
(27,872 posts)It just seems to get better & better every day.
Still In Wisconsin
(4,450 posts)That should be all it takes.
moonscape
(4,674 posts)gives a so-called economic speech, and his numbers on handling of the economy start to tank also.
Makes perfect sense.
Keep talking Trump. We're greedy - we want all 50. And the House.