This year, the media has been focused largely on the election process — campaign managers, speaking styles, every slip and misstep. That’s been entertaining, but the policy differences between the two sides are much more important, and the most crucial difference may be over economic policy.
Donald J. Trump has campaigned very clearly for change — a policy upheaval to promote faster growth, repair the economic stagnation and end the corrupt pay-to-play system that favors the well heeled. Hillary Clinton has pledged to extend and build on the policies of the Obama administration.
There is no doubt who has the better plan. Our economy is growing at only 1.1 percent per year, a fraction of our average rate, and the Congressional Budget Office forecasts just 2 percent annual growth (in inflation-adjusted gross domestic product) for the next 10 years.
Yes, we went through a deep recession, but it ended in 2009. The recovery has been the weakest in decades, and the first that has actually pushed median incomes down. Business investment and profits are lower now than a year ago. Counterproductive federal policies squash small businesses with inane regulatory sprawl that affects hiring, taxes, credit and medical care.
The result is a stagnant economy that leaves out millions of Americans who would like to work and get ahead, and a devastating report card on the Obama White House.
To restart growth, Mr. Trump would immediately lower tax rates, including for middle-income voters, and simplify the tax code. Americans would be able to exempt average child-care expenses from taxes, and Mr. Trump’s administration would eliminate the death tax, which falls especially hard on some small businesses and farmers.
Read more at The NY Times.