Economist Paul Krugman has claimed that voters who voted for President-elect Trump's “terrible” economic policies will be subject to “brutal fraud”.
krugman I participated Tuesday's episode of the New Republic's podcast “The Daily Blast” discussed President Trump's major economic reform plans, including raising tariffs on international trading partners and cutting taxes for some Americans.
“Trump has really radical policy ideas,” Krugman said. “Of course I think they're terrible.”
Krugman, a Nobel Prize winner and longtime New York Times columnist, has consistently said that Americans don't think the same way, yet the U.S. economy will recover post-pandemic. He claimed that he was making good progress.
He also argued that people's perceptions of the economy change based on whether the president is a member of their preferred political party.
“This shows an immediate switch in economic sentiment between Democrats and Republicans, with Republicans saying the economy is great, while Democrats are concerned about inflation and the potential fallout from President Trump's policies,” Krugman said. “I've come to say that there is,” he said.
“We suddenly had multiple people saying their lives were getting worse, which wasn't true, but because that's what people felt, multiple people were saying their lives were getting worse. I think he was saying things got better. I think this is another Republican saying, “Oh, enough is enough.'' Everything about Trump being the next president is great,'' he later said. added.
Krugman said many people who voted for Trump, especially small business owners, “will be horribly defrauded” by the proposed economic plan and the current economic outlook.
“The small business guys are the ones he's spent his whole life being hired as a contractor and then going without pay, right?” he said. “His whole life was deceiving people like that.”
Krugman also emphasized that President Trump's tax cuts for the wealthy will “effectively redistribute income” away from middle-class voters. He also pointed out that the president-elect's large-scale deportation plan would be a huge blow to the economy.
