Past is Prologue: A Second Trump Term Will Be Worse

Trump's first term in office led to economic downturns. Donald J. Trump came into office in 2017 riding the wave of an Obama economy for which he quickly took credit. However, due to his poor economic policies there were severe economic repercussions that the Biden administration worked hard to stem. Sadly, Trump's base believed the lies he peddled and blamed economic woes on the Biden administration. But that's not how it works.

Past is Prologue

Tariffs, tax cuts, and inadequate responses to crises like COVID—exacerbated economic disparities, inflation, and supply chain disruptions, leading to hardship for everyday people. A second term for Donald Trump will bring intensified challenges, especially if past policies and approaches are revived or expanded. His plans for more tariffs, additional tax cuts for the wealthy, and mass deportations will result in a broken economy with grave outcomes.

Understanding Economic Impact

1. Tax Cuts: The 2017 Tax Cuts and Jobs Act (TCJA) provided substantial benefits to corporations and high-income earners but had limited long-term benefits for middle- and low-income households. The cuts also added to the federal deficit, which constrains future economic flexibility.

2. Tariffs:The imposition of tariffs, especially on goods from China, led to retaliatory measures that impacted U.S. exports, particularly in agriculture. While the tariffs were positioned as protecting American jobs, they raised costs for manufacturers and consumers, contributing to inflation.

3. COVID-19 Response:Mismanagement during the pandemic resulted in mass unemployment, overwhelmed healthcare systems, and disrupted supply chains. Policies that failed to prioritize public health and economic stability compounded the crisis.

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What to Expect Under Trump's Second Term

These effects will worsen during his second administration: