Former President Donald Trump and Vice President Kamala Harris are both vying for voter support by outlining their economic strategies. Amidst this, 22-year-old Darius Diggs from Phoenix, who works for a conservative nonprofit, believes in a different approach to boost the economy.
Diggs disagrees with the Biden administration's demand-side economics, which focuses on creating high demand for goods to stimulate spending and job growth. Instead, he advocates for incentivizing companies to retain jobs within the US by lowering corporate tax rates and reducing regulations to create more high-paying job opportunities.
While some may label Diggs' viewpoint as 'trickle-down economics,' he emphasizes that boosting high-paying positions, along with fiscal responsibility, reduced government spending, and lower interest rates, would be beneficial for the economy.
For Diggs and many other Americans, the economy is a top priority in this election, as it impacts various demographics and their ability to build generational wealth amidst economic challenges.
Proposals by Former President Trump
Former President Trump's economic proposals include extending all individual income and estate tax cuts provided by the 2017 Tax Cuts and Jobs Act. These measures encompass an increase in the standard deduction, lower marginal income tax rates for most brackets, and an expansion of the estate tax exemption.
Additionally, Trump aims to lower the corporate tax rate to 15% for specific companies. The Tax Cuts and Jobs Act had previously reduced the top corporate tax rate from 35% to 21%, and Trump seeks to further decrease it to stimulate business growth and investment.
