A group of 23 winners of the Nobel Prize in Economics showed their support for the Democratic candidate for the presidency of the United States, Kamala Harris.
Through a letter, the winners believe that Harris would be a “better administrator of our economy,” compared to the Republican candidate, Donald Trump.
“While each of us has different views on the details of various economic policies, we believe that, overall, Harris’ economic program will improve health, investment, sustainability, resilience, employment opportunities and the equity of our nation and will be far superior to Donald Trump’s counterproductive economic program.”
According to economists, Trump’s policies include high tariffs, “even on products from our friends and allies,” as well as regressive tax cuts for corporations and individuals. These measures, they argue, can lead to larger deficits and more inequality.
Throughout his campaign, Trump has promised that, if he wins the presidency again, he will impose a tariff of more than 60% on all products from China, as well as one of up to 20% on all imports from any country.
“Among the most important determinants of economic success are the rule of law and economic and political certainty, and Trump threatens all of this.”
Among the economic policies that Harris proposes is a tax credit of $25,000 for those who buy their first home, increasing the corporate tax rate from 21 to 28% and not increasing taxes on those who earn less than $400,000 annually.
“Simply put, Harris’ policies will result in stronger economic performance, with economic benefits stronger, more sustainable and equitable growth,” they wrote.
