Where Kamala Harris And Donald Trump Stand On The Job Market, Economy, Stock Market And U.S. Safety
Vice-President Kamala Harris, as the presumptive Democratic nominee for the upcoming election, would likely emphasize policies that align with her background as a prosecutor, senator and vice president, focusing on the job market and overall economy.
Harris has a history of advocating for economic reforms that support working families, such as increasing the minimum wage, expanding healthcare access and promoting equal pay for women.
Her tenure as California's attorney general and United States senator saw her push for policies aimed at reducing income inequality and supporting small businesses. As vice president, she has supported the Biden administration's efforts to pass significant economic relief packages and infrastructure investments, which are likely to continue as part of her platform.
What Would Kamala Harris’ Platform Look Like Concerning The Job Market And Economy?
Harris' approach to the job market and economy would differ from Donald Trump's in several key ways. While Trump has focused on deregulation, tax cuts for corporations and a more laissez-faire economic approach, Harris is expected to advocate for more government intervention to ensure economic equity and support for vulnerable populations.
For instance, she has been a strong proponent of raising the federal minimum wage and expanding labor rights, contrasting with Trump's policies that have often favored business interests over regulatory measures. Additionally, Harris is likely to emphasize climate change and green energy initiatives as part of her economic strategy, aiming to create jobs in sustainable industries, whereas Trump has generally prioritized traditional energy sectors like oil and coal.
Harris' platform would also likely include measures to address systemic issues within the job market, such as gender and racial disparities. She has a track record of supporting legislation that aims to close the gender pay gap and provide more opportunities for businesses owned by underserved Americans. Furthermore, her focus on healthcare reform, including the expansion of the Affordable Care Act, would aim to reduce healthcare costs for families and businesses, potentially leading to a more stable and productive workforce.
What To Expect In Another Trump Presidency
As a candidate for the U.S. President Donald Trump has outlined several key policies and ideas regarding foreign wars, the stock market, economy, job market and other important matters.
On the issue of foreign wars, Trump has consistently advocated for reducing U.S. involvement in "never-ending" conflicts, such as the one in Ukraine. He has emphasized the need to prioritize American interests and has been critical of extensive military engagements abroad, suggesting a more isolationist approach to foreign policy.
Regarding the stock market, Trump has promised to continue implementing policies that he believes will boost market performance. This includes maintaining low corporate taxes and reducing regulations that he argues stifle business growth. His previous tenure saw significant stock market gains, and he aims to replicate this by fostering a business-friendly environment.
For the economy and job market, Trump plans to focus on tax cuts and deregulation to stimulate economic growth and job creation. He has highlighted the importance of bringing manufacturing jobs back to the U.S. and renegotiating trade deals to benefit American workers. Trump's economic strategy includes promoting energy independence, which he believes will create jobs and reduce reliance on foreign energy sources.
On immigration, Trump has reiterated his commitment to strict border control and deportation policies. He has emphasized building a border wall and increasing deportations of illegal immigrants as measures to enhance national security and protect American jobs.
Trump has also been vocal about supporting law enforcement and opposing calls to defund the police. He advocates for "refunding the police" to ensure they have the necessary resources to maintain public safety.
What We Know From Trump’s Prior Presidency
From Donald Trump's previous term as president, we can infer some of his likely policies and plans for a potential future administration. Regarding the economy and job market, Trump has historically emphasized tax cuts, deregulation and an "America First" trade policy.
On the federal deficit, Trump's record shows a significant increase during his presidency, particularly due to tax cuts and increased spending. However, he has claimed that economic growth would eventually lead to deficit reduction.
He implemented significant corporate tax cuts during his previous term, which he argued would stimulate economic growth and job creation. Trump has also been a proponent of renegotiating trade deals to benefit American workers and businesses.
Trump’s Tax Cuts and Jobs Act (TCJA) significantly reduced the corporate tax rate from 35% to 21%. This substantial cut likely had a positive impact on corporate profits, which could have boosted stock prices for many companies. The TCJA included provisions to encourage companies to bring back overseas profits at a lower tax rate. This influx of capital could have led to increased stock buybacks and dividends, potentially boosting stock prices.
Trump’s administration focused on reducing regulatory burdens on businesses. By rolling back numerous regulations, the administration aimed to create a more business-friendly environment, encouraging investment and job creation.
His "America First" trade policies, including renegotiating NAFTA into the USMCA (United States-Mexico-Canada Agreement) and imposing tariffs on China, were intended to protect American jobs and industries. These policies aimed to reduce trade deficits and bring manufacturing jobs back to the U.S.
Under Trump, the stock market saw significant gains, particularly in the first three years of his presidency. Major indices like the Dow Jones Industrial Average and the S&P 500 reached record highs, reflecting investor confidence in his economic policies.
Before the COVID-19 pandemic, the U.S. saw substantial job growth, with the unemployment rate reaching a 50-year low of 3.5% in February 2020. This period also saw wage growth, particularly for lower-income workers.
Trump signed the First Step Act into law, which aimed to reform the criminal justice system by reducing mandatory minimum sentences for non-violent offenders and improving prison conditions. This legislation was seen as a step toward reducing recidivism and improving public safety.
The former President increased funding for the military and signed the VA MISSION Act, which expanded healthcare options for veterans. These measures aimed to enhance national security and improve the welfare of service members and veterans.
His administration implemented strict immigration policies, including building sections of the border wall and increasing deportations of illegal immigrants. These actions were intended to enhance national security and protect American jobs.
The administration took steps to combat the opioid crisis, including declaring it a public health emergency and increasing funding for treatment and prevention programs. These efforts aimed to reduce opioid addiction and related deaths.
In response to the economic impact of the COVID-19 pandemic, Trump signed the CARES Act, which provided financial assistance to individuals, businesses and healthcare providers. This legislation included direct payments to Americans, expanded unemployment benefits and support for small businesses through the Paycheck Protection Program (PPP).
Thriving In Chaos: How To Be Super Successful, Wealthy And Happy In A F*cked-Up World
We all have something in common: there’s an innate human desire to succeed in life—socially and at work. We want to be loved, forge lasting, fulfilling relationships, enjoy career and financial success and lead wonderful, productive lives.
This seems reasonably simple enough. However, it’s getting exceedingly difficult to stand out in a crowded workplace to get noticed and appreciated for your hard work and efforts, especially in a doom-and-gloom, tough economic environment with high inflation and costs continually rising.
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The goal of this book is to offer the tools, advice and guidance to succeed in your life and work.