German government believes Trump would ravage U.S. economy

[Draz]

Germany's economy ministry believes a Donald Trump presidency would severely damage the U.S. economy, according to an internal memorandum reported by Der Spiegel magazine on Saturday.

The ministry expects "shrinking gross domestic product, fewer jobs and higher unemployment," in the United States if the Republican candidate were to implement his campaign pledges, the magazine cited the memo as saying.

Trump, a billionaire businessman seeking his first public office, has proposed tax cuts worth $4.4 trillion and wants to curb government regulation and take a tougher stance on negotiating trade deals.

He says his economic plan would produce annual economic growth of 3.5 percent and create 25 million jobs over a decade. But some economists have questioned the assumptions underpinning the plan.

Trump's pledges are "not feasible", Spiegel cited the memorandum as saying. Moreover, the plans would violate international or U.S. law and could be "no basis for a realistic economic policy."

A spokeswoman for the German Economy Ministry declined to comment on the Spiegel report.

Last month, economic research firm Oxford Economics projected the U.S. economy could be $1 trillion smaller than otherwise expected in 2021 if Trump becomes president.

Source (German government believes Trump would ravage U.S. economy: Spiegel - Reuters https://apple.news/AR_UwPn3RQ_-aQYIZ9ibKZg)

[highwhey]

they are not wrong.

as for the inevitable response from trumptards in this thread, who are you going to trust more, nick young or the German government?

[Springsteen]

they are not wrong.

as for the inevitable response from trumptards in this thread, who are you going to trust more, nick young or the German government?

but nick young told me the german government were cucks, surely he knows best :confusedshrug:

[qrich]

Germany bent over for Turkey and Erdogan, something Trump won't do but, like Obama, Hilary would. Not really a surprise.

[NumberSix]

What would letting in millions of third world migrants do to an economy?

[poido123]

Source (German government believes Trump would ravage U.S. economy: Spiegel - Reuters https://apple.news/AR_UwPn3RQ_-aQYIZ9ibKZg)


There will be an initial hit on the economy and market, no doubt.


Uncertainty and unpredictability gets investors worried.


Same thing that happened with Brexit, there will be an initial reaction, then a correction in the market with time.

[NumberSix]

Britain is projected to be the fastest growing economy next year.

[Nick Young]

but nick young told me the german government were cucks, surely he knows best :confusedshrug:
The British economy has improved post-leave vote.

Germany and the EU are desperately trying to sue Apple now to make up for the UK money they are about to lose in a few years.

[ThePhantomCreep]

Think wealth inequality is bad now? Trump's tax plan would make it 10x worse.

Even worse, of all his ridiculously shitty proposals, this one has the greatest chance of coming to fruition. The GOP Congress will make sure of that.

Amazing. As much as it harms them, poor stupid working class right-wingers love them some Reaganomics. The dumb saps don't know why.

[Patrick Chewing]

Is Germany trolling???

[NumberSix]

Think wealth inequality is bad now?
No.

[UK2K]

Too bad they're in Germany, because small business owners HERE think otherwise:


Small business says Trump is their pick for president

The jury is still out on how the presidential candidates will fare during the next debate, on Oct. 9, in the eyes of a key voter constituency: the small-business sector. The group that is composed of 28 million business owners is a major voting block in the upcoming election.

Yet if the last presidential debate is any guide, the Republican ticket has an advantage. According to an exclusive nationwide poll with Manta, a social network for small businesses, Trump won the first debate in the eyes of small businesses on Main Street.

Manta's survey, which polled a diverse group of 834 small-business owners nationwide between Sept. 26 and Sept. 28 revealed that Republican candidate and business mogul Donald Trump was the winner, with 58.7 percent. Democratic candidate Hillary Clinton garnered 41.3 percent of their vote.


https://www.google.com/amp/www.cnbc.com/amp/2016/10/05/small-business-says-trump-is-their-pick-for-president.html?client=ms-android-verizon

Not to mention... they're literally allowing themselves to be blown up in the name of PC. You want to be like them? Me either. They also thought it was a good idea to allow a flood of Islamic immigrants into their country with zero vetting. That was a good call too. :lol

Enjoy.

[ThePhantomCreep]

No.

Of course you don't.

As much as it harms them, poor stupid working class right-wingers love them some Reaganomics. The dumb saps don't even know why.

[~primetime~]

No.

:facepalm

[NumberSix]

Of course you don't.

As much as it harms them, poor stupid working class right-wingers love them some Reaganomics. The dumb saps don't even know why.
I'm glad companies like Apple, GE, Mercedes, HBO, supermarkets, etc. exist and get super rich doing what they do. They make my life much better. Otherwise, I'd be living in a candle-lit log cabin spending my days doing farm work. I like living in a world of electricity, technology, medical innovation, travel, entertainment, etc.

Income inequality has worked out pretty well.

[~primetime~]

http://www.marketoracle.co.uk/images/2013/Sep/income-inequality-2.png

The gap is out of control

Last time the wealthy had this much of our money was the Great Depression

[~primetime~]

Trump wants to give the wealthy even MORE

and somehow, someway, there are dumb mfers who think that's a great idea :facepalm

[NumberSix]

Trump wants to give the wealthy even MORE

and somehow, someway, there are dumb mfers who think that's a great idea :facepalm
What do you mean "give"?

[ThePhantomCreep]

I'm glad companies like Apple, GE, Mercedes, HBO, supermarkets, etc. exist and get super rich doing what they do. They make my life much better. Otherwise, I'd be living in a candle-lit log cabin spending my days doing farm work. I like living in a world of electricity, technology, medical innovation, travel, entertainment, etc.

Income inequality has worked out pretty well.

Terrible argument. There is no evidence that low taxes for the rich = more innovation. None.

There's more evidence that the opposite is true. Would you care to see a list of innovations (like the internet) that originated from government commissioned programs? Would you like to see the shit NASA is coming up with these days? It's a bit more impressive than the iPhone's sleek new design.

Right-wingers are obviously satisfied with just bread crumbs--give them electricity and indoor plumbing and they're happy for life. Poor saps.

[ZenMaster]

Trump wants to give the wealthy even MORE


Wouldn't you agree, that it's much healthier for society if companies pays out wages(and preferably higher ones) to the American people rather than the government in taxes?
You can only make that happen if you can get companies not to leave to begin with, that's where these huge international trade deals come in, as they're the main reason wealth inequality is rising in the western world - for how many years now, have politicians said that they'll make the wealth gap go down?

From a top 10% corporate pov the situation at the moment is amazing, you can move the production of a strong brand product to another country - where you'll get off by paying way less in wages and corporate tax - then export the product back to your "own" country(and now with huge ships, all over the world), all while selling it for the same price as when you had your production in the country which the brand was built.

That's a very simple way of explaining it, the scheme also includes moving wealth into tax heavens, and paying off politicians year after year not to change the rules, studies and actions on how you can affect the public opinion on it all taking place right in front of them.

A strong middle class will never happen again, unless you can change the described scenario happening. Obama has had 8 years to tax the wealthy more and "make them pay their fare share", only to see the rich get richer and the country now 20 billion in the hole.

Apple is the best example of this practice. Great public perception as an American company, but the product is made in outside the US while a lot of tax(or lack there of) is paid in Ireland. Apple, at least in 2014, had more cash on hand than the US treasury.

Think about all the money that could be made by Americans, if it was more profitable for Apple to produce their products in the states: factory workers, factory management, production and upgrading of the production facilities and so on.

TLDR; you're right that lowering the taxes by itself doesn't work, but it can be done if you can keep the companies in house instead of constant outsourcing.

[poido123]

Think wealth inequality is bad now? Trump's tax plan would make it 10x worse.

Even worse, of all his ridiculously shitty proposals, this one has the greatest chance of coming to fruition. The GOP Congress will make sure of that.

Amazing. As much as it harms them, poor stupid working class right-wingers love them some Reaganomics. The dumb saps don't know why.


I'd be more worried about the woman who has no idea who she's going to tax from day to day.

One minute she's saying she will tax the middle class, but when she realises that Trump might do this she changes her tune altogether.


She can't keep one single promise.

[NumberSix]

Terrible argument. There is no evidence that low taxes for the rich = more innovation. None.
I wasn't making an argument about taxes. I was simply saying that I don't care that some people have massive amounts of money. People who produce things of value that millions of people want to trade their money for are going to collect a lot of wealth. And that's a good thing. I rather buy light bulbs than make homemade candles. I'd rather buy a car than spend my time raising and training houses to pull a cart.

It's a win/win for everybody. They make a lot of money and we get to buy the valuable things they produce. You don't like the thing they produce, don't buy it. Everybody wins, nobody loses.

[JtotheIzzo]

I'm glad companies like Apple, GE, Mercedes, HBO, supermarkets, etc. exist and get super rich doing what they do. They make my life much better. Otherwise, I'd be living in a candle-lit log cabin spending my days doing farm work. I like living in a world of electricity, technology, medical innovation, travel, entertainment, etc.

Income inequality has worked out pretty well.

It is the strength of the US.

A lesson for all those anti-globalists out there.

But hey, Juche has worked well for North Korea, so maybe everyone should adopt it.

[Cleverness]

Why does Hillary's plan not cut taxes for the poor and middle class, but Donald Trump's plan does? Shouldn't Hillary be cutting taxes for the poor and middle class more than Donald Trump?


Hillary's plan increases taxes on the poor and middle class (minimally), while a married couple making $50,000/yr each will pay $5,038/yr less under Trump's plan ($20,000 over 4 years). I think $20,000 over 4 years under Donald Trump's plan vs Hillary's is a lot of money to save if you are a middle class couple. A lot of money. If a married couple makes $30,000 or less under Donald Trump's plan, they will pay $0. I bet that will help them pay their bills and save money.

[kurple]

Germany bent over for Turkey and Erdogan, something Trump won't do but, like Obama, Hilary would. Not really a surprise.
Dude, this isnt game of thrones

[kurple]

What would letting in millions of third world migrants do to an economy?
Its bad for the economy, but there is more too life than money


How is this even relevant to the thread?

[poido123]

Its bad for the economy, but there is more too life than money


How is this even relevant to the thread?



Well to the people who live in that country (they should matter), their opinions should matter.


The problem is, the government benefits from it, not the people. The government are happy to watch more people become homeless, more pensioners struggle, the working people to pay more taxes to make sure these migrants get everything.


The people living in the country should be first priority. If you can't even look after the ones in the country and the welfare system and employment is already stretched, then migrants should not even be an option.

[Schotsman]

The British economy has improved post-leave vote.


Invalid point, as the actual Brexit with al its reforms is still to take place, and the expected results of the Brexit are at this moment in time still speculation in its purest form.

[ILLsmak]

Wouldn't you agree, that it's much healthier for society if companies pays out wages(and preferably higher ones) to the American people rather than the government in taxes?
You can only make that happen if you can get companies not to leave to begin with, that's where these huge international trade deals come in, as they're the main reason wealth inequality is rising in the western world - for how many years now, have politicians said that they'll make the wealth gap go down?

From a top 10% corporate pov the situation at the moment is amazing, you can move the production of a strong brand product to another country - where you'll get off by paying way less in wages and corporate tax - then export the product back to your "own" country(and now with huge ships, all over the world), all while selling it for the same price as when you had your production in the country which the brand was built.

That's a very simple way of explaining it, the scheme also includes moving wealth into tax heavens, and paying off politicians year after year not to change the rules, studies and actions on how you can affect the public opinion on it all taking place right in front of them.

A strong middle class will never happen again, unless you can change the described scenario happening. Obama has had 8 years to tax the wealthy more and "make them pay their fare share", only to see the rich get richer and the country now 20 billion in the hole.

Apple is the best example of this practice. Great public perception as an American company, but the product is made in outside the US while a lot of tax(or lack there of) is paid in Ireland. Apple, at least in 2014, had more cash on hand than the US treasury.

Think about all the money that could be made by Americans, if it was more profitable for Apple to produce their products in the states: factory workers, factory management, production and upgrading of the production facilities and so on.

TLDR; you're right that lowering the taxes by itself doesn't work, but it can be done if you can keep the companies in house instead of constant outsourcing.

Yea... but the question is can we get them back? I don't know. The only way would be to implement something that punishes them for not doing it, and I can't imagine how those corps, with all of the power, would allow that.

-Smak

[ZenMaster]

Yea... but the question is can we get them back? I don't know. The only way would be to implement something that punishes them for not doing it, and I can't imagine how those corps, with all of the power, would allow that.

-Smak

You're right that it's a very tough fight and it's going to take a lot people working together, but I think chances are, that if you can change the system so companies can't profit from outsourcing, then they'd prefer staying home.

I think the least we can do is try, and in this election there is one candidate who says he'll try for real change. He's far from perfect in a traditional politic sense and has many flaws, but throughout his campaign he's suggested policies that at least try to correct the problem we're discussing here - which is indeed major change.
A lot people thinks that he's lying about it all, and will just implement rules that will be more profitable for "him and his friends", but the stuff he says in his campaign about the broken system, he's been saying since the 80's, which makes me inclined to believe he's sincere - and that it's worth taking a chance on.

[NZStreetBaller]

Didnt trump say that he was gonna slash business tax to keep the businesses from outsourcing the jobs overseas?

Surely he is aware that alot of big businesses know all the tax loopholes and already don't pay stuff all tax how is tax cuts going to keep them from outsourcing?

[ZenMaster]

Didnt trump say that he was gonna slash business tax to keep the businesses from outsourcing the jobs overseas?

Surely he is aware that alot of big businesses know all the tax loopholes and already don't pay stuff all tax how is tax cuts going to keep them from outsourcing?

He says that he wants to tax imported products to keep businesses from outsourcing, and then cut taxes at home while reducing waste spending by the government caused by special interests.

[ThePhantomCreep]

Its bad for the economy, but there is more too life than money


How is this even relevant to the thread?
Because rather than blame our jacked up tax code and failed conservative policies for the decline in the American middle class, right-wingers would rather scapegoat Brown people. It's so much easier than thinking.

[UK2K]

Again, do I need to remind everyone what the German government thought about importing thousands and thousands of 'refugees'? How's that working out for them?

Not sure their opinion matters much.