Trump: A US President Donald Trump Would Destroy Wealth Worldwide

Introduction

The election of Donald Trump as President of the United States would have a devastating impact on the global economy. His policies would lead to a trade war with China, Mexico, and other countries, which would disrupt supply chains and raise prices for consumers. His tax cuts would benefit the wealthy at the expense of the poor and middle class, and his plans to repeal the Affordable Care Act would leave millions of Americans without health insurance.

Trade War

Trump has threatened to impose tariffs on goods from China, Mexico, and other countries. This would lead to a trade war, which would disrupt supply chains and raise prices for consumers. The Peterson Institute for International Economics estimates that a trade war between the US and China alone would cost the US economy $1.7 trillion over the next decade.

A trade war would also damage the US economy by making it more difficult for businesses to export their goods and services. This would lead to job losses and lower wages for American workers.

Tax Cuts

Trump has proposed tax cuts that would benefit the wealthy at the expense of the poor and middle class. The Tax Policy Center estimates that Trump's tax cuts would give the top 1% of earners an average tax cut of $51,140, while the bottom 20% of earners would get an average tax cut of just $45.

Trump's tax cuts would also increase the federal deficit by $1.5 trillion over the next decade. This would lead to higher interest rates and make it more difficult for businesses to borrow money to invest and create jobs.

Repeal of the Affordable Care Act

Trump has promised to repeal the Affordable Care Act (ACA), which would leave millions of Americans without health insurance. The ACA has provided health insurance to 20 million Americans who previously did not have it, and it has also slowed the growth of healthcare costs.

Repealing the ACA would lead to higher healthcare costs for everyone, and it would also make it more difficult for people with pre-existing conditions to get health insurance.

Conclusion

The election of Donald Trump as President of the United States would have a devastating impact on the global economy. His policies would lead to a trade war, tax cuts that benefit the wealthy at the expense of the poor and middle class, and the repeal of the Affordable Care Act. These policies would damage the US economy and make it more difficult for people to get healthcare.