Donald Trump’s just-presented economic vision for America couldn’t be a more radical — and encouraging — departure from the Harris-Biden horror show of “Bidenomics.”
The former president wants to return to the days when he presided over low inflation and low unemployment — by unleashing domestic manufacturing and energy production, ending wasteful Green New Deal spending, ditching onerous regulations, and making his tax cuts permanent.
That is a winning policy that is about as far from Kamala Harris’ socialist price controls, multitrillion-dollar tax hikes, and more inflation-boosting mistakes of the Biden administration.
Trump sees a more robust energy market jumpstarting the broader economy. He aims to halve energy prices “within 12 months” (triggering lower costs for other goods, too) by declaring a “national emergency” and ramping up “energy production, generation and supply.”
“Starting on Day 1,” he vowed, “I will approve new drilling, new pipelines, new refineries, new power plants, new reactors — and we will slash the red tape.”
He’d also “terminate” the “Green New Scam,” rescinding unspent funds OK’d in Harris-Biden’s price-hiking Inflation Reduction Act.
Other highlights of Trump’s plans to juice the economy include:
- Scrapping 10 on-the-books regulations for every new one.
- Creating a “sovereign wealth fund,” built largely from tariff collections, to invest in infrastructure, defense, and medical research.
- Setting up a government-efficiency task force, headed by Elon Musk, to “audit” all federal operations and recommend “drastic reforms.”
- “Eliminating” the deficit, using wealth-fund money, increased tax revenue from a stronger economy, and spending cuts.
- Making his 2018 tax cuts permanent, eliminating taxes on tips and Social Security benefits, and lowering the tax rate for companies that operate in America to 15% from 21%.
He’d couple all this with a bid to “restore the rule of law” in America — his top priority after years of Democrats “censoring speech” and “weaponizing the justice system.”
Similarly, he’d crack down on the onslaught of illegal migrants (his signature issue) costing Americans jobs and taxpayers “hundreds of billions.”
It is true that Trump may be unable to meet all those lofty goals, especially if Democrats control Congress. Yet he’d push the nation in the right direction after years when Harris-Biden policies drove up energy, and grocery prices and sky-high interest rates made homes unaffordable.