The Carr Report: Donald Trump vs. Kamala Harris…A comparison of economic policies

The 2024 presidential election promises a clash of economic philosophies, with Donald Trump and Kamala Harris offering starkly contrasting visions for the future of the American economy. Trump, the former president and Republican candidate, champions a hands-off approach, emphasizing deregulation, tax cuts for businesses and the wealthy, and a focus on traditional industries. Harris, the Democratic candidate and current vice president, advocates for a more interventionist government, prioritizing progressive taxation, social equity, and investments in a green economy. These opposing views reflect deep ideological divides on how to address the nation’s economic challenges. Two Worlds of Economic Thought: Trump’s Supply-Side vs. Harris’ Progressiveness Donald Trump’s economic outlook leans heavily on supply-side economics, also known as “trickle-down” economics. This theory suggests that lowering taxes for businesses and wealthy individuals will stimulate investment, job creation, and overall economic growth, ultimately benefiting all Americans. Trump firmly believes that a free market, with minimal government interference, fosters entrepreneurship and innovation, leading to a more dynamic and prosperous economy. Kamala Harris, on the other hand, embraces a more progressive economic approach, advocating for greater social equity and a fairer distribution of wealth. She believes that reducing income inequality and ensuring everyone has a fair chance...