Ryan Teague Beckwith is a newsletter editor for MSNBC. He has previously worked for such outlets as TIME magazine, Bloomberg News and CQ Roll Call. He teaches journalism at Georgetown University's School of Continuing Studies.
Donald Trump has long cited his economics degree from the prestigious Wharton School as evidence of his “super genius stuff” skills in business. But if he were a student there right now, he’d get a failing grade for his proposals’ effects on rising prices.
In his campaign, Trump has proposed making permanent the individual and estate tax cuts from his 2017 bill that are set to expire and keeping the corporate income tax rate at 21%. There are all kinds of arguments on both sides about the wisdom of these proposals but suffice to say, they would probably end up boosting spending and increasing demand. Coming on top of Trump’s other inflationary proposals, that would likely lead to higher prices as well. Lesson No.
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