Essay on Improving the United State Economy

Paper Type:  Essay
Pages:  3
Wordcount:  719 Words
Date:  2021-05-24
Categories: 

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Employment and job creation is a major initiative to boos and improve the United State economy. It is through employment that the citizen will earn a living and be able to pay taxes that are a major source of the government revenue. Mr. Trump has not clearly defined on how he will deal with the issue of unemployment that has as greatly affected US economy due to the competition caused by the high influx of immigrants into the country. Proper plans should be put in place to address the matter. Trump is targeting huge spending on the defense military which may deplete the national Federal Reserve that might plunge the nation into economic crisis. Hillary Clinton has a better policy plan that will increase the employment for the youths by empowering training of the locals and cooperation with other economies like China. Trade ties will enhance the ease of doing business and improve investment in the country. Hillary Clintons will improve the infrastructure, improve the immigration laws, enhance the minimum federal wage and efforts to boost the women workforce. These are indicators of a sustainable economy.

Trade and Globalization

Globalization and trade enhancement will allow an easy flow of goods and human workforce in the country. Trade agreements, globalization and the impact of lower tariffs and more open borders on U.S. will help boost the economy. Trump is opposed to the policy of globalization, the trade deals with the East, location of US businesses in oversea countries and the entry of foreigner who take the jobs for the citizen. These policies may deter the good relations of America and other nations that might affect the economy negatively. His strong opposition to trade deals has led to clashes with the U.S. Chamber of Commerce. His threats of tariffs could hurt American industries that depend on international supply chains, and potentially kick off a trade war that dents economic growth. Mrs. Clinton has offered to support trade deals with other countries that will increase the national revenue. The American economy requires the inputs from other countries and will lead to a balance of trade for the nation.

Taxes

Tax cuts for the low income earners will increase their earnings. The government should put measures that target the high income earner and tax evasion so as to increase the collections. Mr. Trump is planning to slash tax rate which might reduce the government collection creating a problem on the government spending. Clinton has a well layed plan that will increase taxation for the high income earners and investment at the advantage of the many low income earners. The tax breaks for the different income brackets will create a balance between all the citizens regardless of the social and economic class. She would increase capital gains rates on assets held between one and six years to encourage longer-term investing and she would impose tougher restrictions on companies seeking to move their addresses out of the country and cut their tax bills. These policies will make America great.

National Debt

The national debt is oaring since the 2008 financial crisis due to increased government spending making the debt-to-GDP increase. This matter should be resolved to reduce the burden on the taxpayers. Increased trade negotiation will work to resolve this matter a thing Mr. Trump is against. This might make the debt on the increase and be effect will be felt by the consumers and the taxpayers. Mrs. Clinton has plans that ensured new spending programs are paid for from a budgeting standpoint, usually through higher taxes on higher income households. This will greatly reduce the national debt from its current standing.

Monetary policy and the Federal Reserve

The U.S. central bank is responsible for supporting the American economy by pursuing stable prices and maximum employment through monetary policy, and monitoring risks in the financial system. Trump has vowed to replace the current central bank governor with a republican person a thing that may not work to address the government spending. He advocates for an increase in the in the interest rates that will affect the ordinary citizens. Clinton has proposed proper monetary policies and an oversight body that monitors the lending and repayment process for banks thus improving the economy. The central banks inflation and employment mandates will resolve the financial sector matters.

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Essay on Improving the United State Economy. (2021, May 24). Retrieved from https://midtermguru.com/essays/essay-on-improving-the-united-state-economy

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