Former President and presidential candidate Donald Trump and Republicans laid out their promises to Americans at their national convention in Milwaukee on Monday.
His economic proposal is based on five pillars: cutting regulations; cutting taxes; ensuring fair trade agreements; guaranteeing reliable, abundant and low-cost energy; and defending innovation.
When asked which party would handle the economy better, Latinos are almost evenly split between the Republican Party (25%) and the Democratic Party (22%), according to a poll conducted in April by Ipsos, Axios Latino and Noticias Telemundo.
But when asked who is better for the economy, Latinos choose Trump by more than double the percentage of points (42%) over Biden (20%).
What does the Republican Party offer Latinos?
Former President Trump says he wants to impose tariffs on U.S. trading partners, eliminate tip taxes and reduce the corporate tax rate, among other proposals, such as extracting more oil, natural gas and coal, which he says would lower the overall cost of living.
Trump’s party platform says that “Republicans will support imposing basic tariffs on goods made abroad,” and that “as tariffs on foreign producers go up, taxes on American workers, families, and businesses can go down.”
Trump promises mass deportations
The platform says they would address illegal immigration with the “largest deportation program in U.S. history” in order to lower inflation.
But that would not only have the opposite effect, “it would be a terrible and unnecessary shock to the economy,” Michael Clemens, a researcher at the Peterson Institute for International Economics and professor of economics at George Mason University, explained to Noticias Telemundo.
“For every 10 migrants removed, one American job is lost forever,” Clemens explains, meaning that for every million undocumented workers deported, regarding 88,000 American jobs are lost.
Just as unemployment contracts the economy, and a recession creates more unemployment, removing jobs (whether migrant or not) would have the same effect.
But beyond that is the fact that immigrants have gifts, talents and roles that they play that are special and integral to the economy.
“It’s like a recipe: you can’t just take out the eggs and add more flour. It doesn’t work like that,” Clemens explains.
A recent analysis by the Peterson Institute for International Economics showed that deporting just 1.3 million workers would cause the U.S. economy to contract by 2.1%, essentially creating a recession.
Trump promises to eliminate tip taxes
In their platform, Republicans say they will “make permanent provisions of the Trump Tax Cuts and Jobs Act that doubled the standard deduction, expanded the Child Tax Credit and spurred economic growth for all Americans.”
Additionally, the Republican platform proposes: “We will eliminate tip taxes for millions of restaurant and hospitality workers.”
Tipping is a fundamental part of the salary of almost five million workers across the country, and of them, seven out of 10 are women.
Making housing more affordable
One of the main goals of the campaign is to draw the attention of voters to an issue that worries many Latinos: how to pay for rent or the purchase of their own home.
Now, what conservatives are promising in their platform text is that “to help new home buyers, Republicans will lower mortgage rates, thereby dramatically reducing inflation.”
They also say they will open up limited portions of federal lands to allow for new housing construction, promote homeownership through tax incentives and support for first-time homebuyers.
With information from Telemundo
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2024-07-18 20:48:54
