Trump's Economy or Biden’s Economy - which version is better.

[Juggy777]

As we enter the final phase of the elections both the candidates have presented two very different approaches about how they wish to shape US economy.

Trump's version should be known by all as he’s favouring Make in America, offering to cut more corporate taxes, continue his trade war with China, and promote Private sector in US.

Biden on the other hand is keen to invest in public sector, fight inequality, make peace with allies and restore the trade deal with China, and further he intends to abide by WTO, and join back WHO.

As you can see both have a very different point of view for US economy, and whichever candidate wins it’ll definitely effect the global economy too. However if you had a chance to pick one version, and reject the other which one would one would you choose and why?.

If Trump is re-elected, he seems likely to continue with the policies pursued during his first term. At root, these were designed to let the private sector, the supply side of the economy, expand as rapidly as possible—the underlying rationale being that, at the end of the day, most jobs, wealth, and innovation are generated in the private sector.

Biden’s agenda, in contrast, is based on addressing America’s problems with economic inequality. The average household in the top 1% has 1,250 times more wealth than the average household in the bottom 50%. The implications of this echo in the country’s social, political, and public-health divisions. Evidence is mounting that a rebalancing of resources from “haves” to “have-nots” could help lift aggregate demand and support stronger economic growth.

Source:

https://www.barrons.com/articles/biden-vs-trump-on-the-u-s-economy-51600186881

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[Cnut237]

which version is better

It's subjective.

if you had a chance to pick one version, and reject the other which one would one would you choose and why?.

Personally I am in favour of reducing inequality, particularly inequality of opportunity. Rich people should be president rich based on their own merits rather than from being born into privilege. I would argue that Trump's approach benefits the already-wealthy at the expense of everyone else, and it also increases tensions between different elements of society (BLM as an example). Inequality - both having different levels of opportunity, and being treated differently, is a major source of the conflicts that exist within societies, and is also counter-productive to the long-term health of the economy, as it concentrates wealth in the pockets of the ultra-rich, rather than distributing it across ordinary people who put the money straight back into the economy instead of just hoarding it.

[Coyster]

Bidens agenda looks good on paper, but the thing is if he'll be able to achieve half of the things in his manifesto in the next four years, if he is elected POTUS. when Donald Trump was campaigning to be president for the first time, there were numerous things he had promised to do and didn't or hasn't done till this time.

This is one very defining election in the U.S., with the pandemic and all, United States needs a president that'll focus on more important things than the current war with China or issuing policies that are only political with no benefit on the economic/micro level. Tensions have risen so much in the U.S. this year for different reasons, which Trump didn't address efficiently, imo what the U.S needs to move their economy out of it's present state is a calm headed president who will listen to the expert officials around him and issue orders that will only be beneficial to the entire country, not just the wealthy and definitely not just to display military strength.

[NotATether]

~snip
offering to cut more corporate taxes, continue his trade war with China, and promote Private sector in US.

The trade war with China is hurting the private sector. Just look at what's happening to Apple for a concrete example. If you lose an entire market, who cares if you get to pay less taxes?

Taxes are deducted from a company's revenue. Would you rather save ~500 million on taxes at the cost of losing a $44 billion market, or keep the market and pay a little more in taxes? Companies may be greedy, but they are not stupid.

[mersal]

For global people or just for Americans, Trump is looking to cut down the job opportunities of overseas residents inside America which could be appreciated by the American for sure and already he took action related to this by cancelling visa approval.And due to corona people also not support China government so Trump has better edge with majority of people supporting it.

[oHnK]

Too many campaign promises made by both of them.  In fact, there are still many promises that have not been kept until now.  The current economic turmoil is exacerbating the condition of America.  What is needed is not a rhetorical leader who pledges without much tangible benefit to society.  I saw both of them only focus on themselves in winning this election.  Without thinking about the best strategy in dealing with the economic problems that are currently happening due to the pandemic.

[chip1994]

As we enter the final phase of the elections both the candidates have presented two very different approaches about how they wish to shape US economy.

Trump's version should be known by all as he’s favouring Make in America, offering to cut more corporate taxes, continue his trade war with China, and promote Private sector in US.

Biden on the other hand is keen to invest in public sector, fight inequality, make peace with allies and restore the trade deal with China, and further he intends to abide by WTO, and join back WHO.

As you can see both have a very different point of view for US economy, and whichever candidate wins it’ll definitely effect the global economy too. However if you had a chance to pick one version, and reject the other which one would one would you choose and why?.


https://www.barrons.com/articles/biden-vs-trump-on-the-u-s-economy-51600186881

I will definitely still support Trump for his next term. Biden's point of view is that he wants America to have a more civilized lifestyle, a greener environment, and he focuses more on people. and for Trump, he is a leading economist and can solve many economic problems for America so that they can be great again. Mr. Trump has been doing a really good job, he's growing the American economy to astonishing levels. In my opinion, Biden is no different from President Obama's version, he won't be as good economically as Trump.

[iv4n]

Both names are on the voting list for a reason! Don't trust politicians! Simple as that! I don't understand how people can still believe in any politician, they are all the same shit! They don't care about you, they don't care about anything except to keep this fucked up system alive! It's better for all of us to have smart contracts running the show than corrupted politicians, and don't doubt for a second that every politician is a corrupted politician! I think people are waking up, we need better system, and most of us knows that. Internet and crypto are two things that can open your eyes, and I strongly believe in changes, I would like to be alive to see those changes!

[beerlover]

Obviously Biden fans will say Biden and Trump fans will say Trump but they do not serve for different lords. They are both fan of big corporations and they will both do everything in their power to actually make it their business for these corporations to make as much profit as they can. Wall street numbers matter to them more than unemployment numbers and both will try to cut tax on corporations and put heavy burdens on the regular public.

The only difference I see between them is not economical but social, Biden was VP for the first ever black president whereas Trumps make America great again is literally a slogan from white racists back in the day. So if Biden becomes president USA will be a "little" better for blacks (not too much) and if Trump stays president he would still hurt blacks most. For whites no difference will happen honestly.

[exstasie]

As we enter the final phase of the elections both the candidates have presented two very different approaches about how they wish to shape US economy.

Trump's version should be known by all as he’s favouring Make in America, offering to cut more corporate taxes, continue his trade war with China, and promote Private sector in US.

Biden on the other hand is keen to invest in public sector, fight inequality, make peace with allies and restore the trade deal with China, and further he intends to abide by WTO, and join back WHO.

As you can see both have a very different point of view for US economy, and whichever candidate wins it’ll definitely effect the global economy too. However if you had a chance to pick one version, and reject the other which one would one would you choose and why?

Investors like Trump's corporate tax cuts and protectionist policies. He's good news for the US stock market, which is also good news for Bitcoin due to their positive correlation as risk assets.

That biases me quite a bit. I've got a lot of value held in BTC, some exposure to gold, and also some exposure to the stock market, primarily via pot stocks. I want those assets to keep appreciating and I believe Trump is much better for bulls than Biden.

Then again, there is no way cannabis is getting legalized under Trump. There is a slim chance it could happen under Biden, assuming there is a Democrat-controlled Congress as well. Legalization would send my stock positions through the roof.

On the flip side, a Biden crash would be good for my cash positions.

I would hate to see another 4 years of Trump too. It would just be depressing. I would love a break from his Twitter antics and his over the top rhetoric. Policy wise, I think both parties are garbage. I just want to see someone else in office.

So when you get down to it, I'm not sure which one I'd choose.

[suchmoon]

Trump's version should be known by all as he’s favouring Make in America, offering to cut more corporate taxes, continue his trade war with China, and promote Private sector in US.

Biden on the other hand is keen to invest in public sector, fight inequality, make peace with allies and restore the trade deal with China, and further he intends to abide by WTO, and join back WHO.

Trump inherited booming economy so that helped him a lot. The tax cut a couple of years ago was utterly useless, and I'm saying this as someone who has way too much money tied up in US stocks so it benefited me personally but it will fuck over my kids a couple of decades down the road.

Not sure what "promote private sector" means but business environment in the US is getting worse, particularly for small businesses that have been a major source of middle class wealth for decades and I don't think Trump has done anything to help it, the aforementioned tax cut notwithstanding. Crippling healthcare costs, useless tariffs, and the disastrous COVID-19 handling are the things that worry small businesses while Trump is in full denial.

But most importantly - I don't think Trump can bluster his way out of the recession. This requires actual work and preferably a boring president who doesn't feed on daily twitter drama.

[abhiseshakana]

Obviously Biden fans will say Biden and Trump fans will say Trump but they do not serve for different lords. They are both fan of big corporations and they will both do everything in their power to actually make it their business for these corporations to make as much profit as they can. Wall street numbers matter to them more than unemployment numbers and both will try to cut tax on corporations and put heavy burdens on the regular public.

The only difference I see between them is not economical but social, Biden was VP for the first ever black president whereas Trumps make America great again is literally a slogan from white racists back in the day. So if Biden becomes president USA will be a "little" better for blacks (not too much) and if Trump stays president he would still hurt blacks most. For whites no difference will happen honestly.

Both Biden and Trump have the backing of oligarchs and plutocrats. This also makes Barnie who is more popular with his green new deal out of the way and resigns from the presidential candidacy, because he does not get support from the oligarchy. Each candidate has their own strengths and weaknesses, moreover, legal and thick money politics in America will not have a positive impact on the political world of the United States, it will lead to corruption, collusion and nepotism because there are obligations that must be fulfilled by the elected President to reciprocate support for supporters.

For the world, since the end of the second world war has been world hegemon, and in practice whoever the president is, America uses its power to suppress and control the world. It's just that the nationalist Trump is known as "the number one world enemy", moving more brutally, so that the world without Trump will be less war. But let's not forget that while democrats don't like to go to gun wars, the fact is that the product of the coalition between democrats and pharmaceutical oligarchs creates the reign of terror around the world.

But in the end, in a presidential election, logic is not enough, emotions and techniques are more decisive. Will history repeat itself where Hillary wins the vote but fails to become president.

[int03h]

~snip
offering to cut more corporate taxes, continue his trade war with China, and promote Private sector in US.

The trade war with China is hurting the private sector. Just look at what's happening to Apple for a concrete example. If you lose an entire market, who cares if you get to pay less taxes?

Taxes are deducted from a company's revenue. Would you rather save ~500 million on taxes at the cost of losing a $44 billion market, or keep the market and pay a little more in taxes? Companies may be greedy, but they are not stupid.

In the last two years, Trump has been too tough on China and has killed small businesses. China has cheap and plentiful labor, and so are its products. Small businesses are too easy to deal with in symbiosis with China and they do it easily.
Maybe they need to change their way of doing things because in the long term China is their boss. Look at Apple, their technology was copied by the Chinese and made a wonderful product.

[Salauddin1994]

It is very difficult to say which version of trump's and biden's economy is better the effects of the epidemic have damaged the economies of both countries but critics claim that trump is ready to sacrifice the lives of citizens in exchange for the protection of the capital market by throwing away the national public health strategy to protect biden's economy from the worst-hit coronavirus. Trump is canceling the white house task force press conference on coronavirus ignoring health experts and paying more attention. But we will do it again we have started this process it's going to happen soon.

[dothebeats]

For American voters, this is like deciding who is the lesser evil between the two. Biden's economic approach is leaning towards the socialist ideology. There's nothing wrong with re-balancing the scales to make it even for the rich and the poor, though the question is how would he attain it? For trump, of course, it's the capitalist ideology. Knowing how great a businessman this guy is, he would of course lean towards making the rich even richer to potentially open some jobs for the working class. The thing is, more often than not, these rich people do not care about the welfare of the working class and instead just want to get more into their pockets than ever before. One thing's for sure though, a balance between these two approach is likely to get more satisfied people on board rather than having to go the extremes on their proposals.

[barbara44]

From what I have perceived, it seems like a lot of people hates Trump a lot. I am not really the type that looks much into what’s happening in other countries, because my country has their own problems and I keep more of focus there, though like you have said, whatever decision that’s made in this US election will not only have an effect on just the US, but also other countries around the world. I can’t tell for sure who is better, like I said, I’m always seeing so many people hating on Trump, but at the same time I have also heard that he made their economy better. If Biden can do better than that, then he surely deserves the position.

[larus]

1% of Americans already pays more than 80% overall taxes. This is unhonest. And Biden want to make this situation even worse

[bitcoinsvrocks]

of course Trump.
first of all, Trump has experience and vision.

[exstasie]

But most importantly - I don't think Trump can bluster his way out of the recession. This requires actual work and preferably a boring president who doesn't feed on daily twitter drama.

Perception counts for a lot. The BLS juicing unemployment numbers has done wonders for market sentiment. I think we'll see more and more massaging of the economic data, the same way they make adjustments to downplay how much inflation is eroding purchasing power. It reminds me of the boiling frog analogy. https://en.wikipedia.org/wiki/Boiling_frog

For American voters, this is like deciding who is the lesser evil between the two. Biden's economic approach is leaning towards the socialist ideology. There's nothing wrong with re-balancing the scales to make it even for the rich and the poor, though the question is how would he attain it?

Biden and the Democrats aren't socialists. It's more about globalism (Democrats) vs. nationalism (Republicans). They both pander to corporations and elites.

[suchmoon]

1% of Americans already pays more than 80% overall taxes. This is unhonest. And Biden want to make this situation even worse

What "overall taxes"? Their income tax share is about 40%. They do earn ~20% of all income so that basically reflects a ~2x higher bracket.

I don't know what else you include there or if you just made it up, but if it's something ludicrous like property tax or sales tax... well, duh. There is also a payroll tax cap at ~$130k and capital gains loophole. 1%-ers are not struggling and it's not "unhonest" in any way. It never made sense to me that wages are taxed at a higher rate than capital gains - it's a subsidy for people who don't really need it.