- Trump's Proposals and Their Impact
- Kamala Harris' Ideas and Economic Reality
- Shared Views and Differences
A study has shown that American voters and economists often hold differing opinions on policy. Proposals by Donald Trump and Kamala Harris elicit varying levels of support and opposition from the public and professionals.
Trump's Proposals and Their Impact
Donald Trump proposed to stop taxing tips for service workers. About 80% of voters support this idea, but 87% of surveyed economists think it’s not effective. Economists argue that it only benefits a small group of low-wage workers and may cause labor market imbalances. Trump also suggested imposing tariffs of up to 20% on imported goods. Almost half the voters support this, but every single economist (100%) opposes it, arguing that tariffs merely increase the cost of goods and harm industries dependent on imports. "If you put a tariff on steel, you make everything that uses steel more expensive, lowering the competitiveness of those businesses," explains economist Steven Kaplan.
Kamala Harris' Ideas and Economic Reality
Kamala Harris has proposed banning corporate price gouging for food and groceries. This initiative has a 49-percentage-point margin of support among voters, but 67% of economists disagree. Nobel laureate William Nordhaus notes, "price regulations can disrupt the balance of supply and demand." However, some of Harris' proposals are supported by both voters and economists. For example, capping insulin prices at $35 has the approval of 64% of economists, who see insulin as an essential drug with recent price increases being unjustified.
Shared Views and Differences
Some of Harris’ proposals also find support among economists. For instance, a $6,000 tax credit for families with newborns is welcomed. However, initiatives like offering $25,000 for first-time homebuyers’ down payment are rejected by both voters and economists, as they may increase demand without addressing the issue of low housing supply. Both Trump and Harris have backgrounds in economics, yet they offer what appeals to the public, even if economically unsound. The core problem lies in the growing distrust of economists and the public’s lack of basic economic understanding.
The study highlights a significant gap between voters’ and economists’ views on key economic issues. With increasing distrust toward professional opinion and the promotion of inefficient policies, this could set dangerous precedents for the country’s future economic health.
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