During the debate, the media would love us all to believe that Harris told the truth and Donald Trump told nothing but lies.
However, one of the experts cited by Harris is already pouring water on one of her claims.
Talking Points…
- Harris economic plan claims
- Goldman Sachs CEO speaks out
- Analysis
Kamala Harris finally posted her agenda on her website the day before the debate. This was clearly done on purpose so as not to give Trump enough time to break it all down and attack her on her policies during the debate.
That, however, did not stop Harris from making claims about how amazing her economic plan was during the debate. Harris has mentioned measures such as taxing unrealized gains, not taxing tips for hospitality service workers, grants for home ownership, cutting taxes for the middle class, and lowering the costs of inflation (which took place under the Biden-Harris administration).
During the debate, Harris stated:
"I am offering what I describe as an opportunity economy, and the best economists in our country, if not the world, have reviewed our relative plans for the future of America.
"What Goldman Sachs has said is that Donald Trump's plan would make the economy worse, mine would strengthen the economy."
Goldman Sachs CEP David Solomon is telling Harris to pump the brakes on her claims. During a recent interview on CNBC, Solomon stated:
"So, that report, which was mentioned last night in the debate, came from an independent analyst, and it's interesting, Scott, I think a lot more has been made of this than should be.
"What the report did is it looked at a handful of policy issues that have been put out by both sides, and it tried to model their impact on GDP growth. The reason I say a bigger deal has been made of it is what it showed is the difference between the sets of policies that they've put forward is about two-tenths of 1%."
He continued:
"So, the economy grows, if you took these particular sets of policies they looked at — and by the way, we have no idea whether these policies, these things that are talked about, will ultimately be implemented — and what was the growth impact? And the differential was two-tenths of 1%.
"I think our clients are trying to look at what's going on from a policy perspective and make judgments. I think this blew up into something that's bigger than what it was intended to be."
The people criticizing Donald Trump's plan are the same people who predicted that Trump would crash the economy in 2016. The economy thrived under his policies. I would even argue that many people today still have their heads above water because of the money they were able to bank when Trump was in office.
Also, as Solomon noted, much of their plan also incorporates the cooperation of Congress, which neither candidate is likely to have. With the current state of the races, even if the winning candidate's party takes complete control of Congress, the majority will not be strong enough to pass whatever policies they want to implement their plan, so this is all fantasy world right now.
Over and above that, I think we have to look at the economic record of both candidates since they have track records. Under Trump, we had almost non-existent inflation and a booming economy. Under the Biden-Harris administration, inflation soared to all-time highs, and it has still not fully recovered, leaving most of our bank accounts in a perpetual state of decline. That is all I need to know to decide whose "plan" I think will be better for the American people.
