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“He’ll Magically Make Us All Filthy Rich”: Donald Trump Is Selling American Workers A Scam

Some of our wisest political observers informed us that Brexit would be great news for Donald Trump, because it shows (somehow) that there may be more support here than expected for his nationalist message of restoring American greatness through restrictionist immigration policies and turning the clock back on globalization.

So it’s a bit surprising to see that a new Bloomberg/Morning Consult poll shows that Brexit will not influence the votes of a majority of Americans, and if anything, may benefit Hillary Clinton marginally more than Trump:

A majority of U.S. voters — 57 percent — say they don’t expect the U.K. verdict will influence their vote in the presidential election. For the roughly quarter who say it will, almost half say it will make them more likely to support Democrat Hillary Clinton, while 35 percent say Republican Donald Trump.

This is only one poll, so don’t place too much stock in it, but I wanted to highlight it to make a broader point: There is simply no reason to assume that the debate over globalization, which Trump joined with a big speech on trade yesterday, will automatically play in the Donald’s favor. Indeed, Trump is running a massive scam on American workers on many fronts, and the contrast between his positions and those of Hillary Clinton on trade and other economic matters may prove more important in the end than his blustery rhetoric.

Neil Irwin has a good piece this morning on Trump’s big trade speech, in which he pledged to rip up our trade deals with his large and powerful hands and to bring manufacturing roaring back. As Irwin notes, Trump is right to highlight the very real possibility that trade deals have badly harmed American workers, and that elites have in many respects let those workers down. (Bernie Sanders, too, is rightly calling on Democrats to fully reckon with this phenomenon.) But as Irwin also notes, Trump is selling American workers a highly simplistic, anachronistic tale that doesn’t level with them about the likelihood of reversing trends in globalization and automation that are partly responsible for workers’ current plight.

I would add an important point: Clinton is offering these workers substantially more than Trump is. Clinton has also pledged to renegotiate trade deals and to oppose the Trans-Pacific Partnership. Whether or not you see that as opportunistic, Clinton has also outlined detailed plans for programs that would try to use tax credits and federal spending to make American workers and businesses more competitive in the global economy. I am not aware of any detailed plans from Trump to do this. Trump’s message is that through his manly prowess, he will kick the asses of other countries and parasitic illegal immigrants and make us all insanely rich again, not that he sees a specific, programmatic role for the federal government in boosting wages, promoting domestic manufacturing, and helping displaced workers.

While it’s true that Trump has promised to spend on infrastructure at home, Trump’s tax plan — which confers an enormous windfall on the rich — would result in a nearly $10 trillion decline in revenues over the next decade. In practice this likely means that, unlike Clinton, he would not try to get Congress to spend substantially on helping American workers. While Clinton has vowed to invest money in helping displaced coal miners, and to invest in clean energy, Trump vaguely promises to put all those coal miners back to work again, which isn’t going to happen. Meanwhile, Clinton supports raising the federal minimum wage to at least $12 per hour. But while Trump has vaguely said workers need higher wages, he has come out for eliminating the federal minimum. Again, all he’s really saying is that he’ll magically make us all so filthy rich that we won’t have to worry ourselves with difficult policy choices. The vow that mass deportations will make the American workforce great again is also a straight-up scam.

The choice is not necessarily between Trumpian turn-back-the-clock proctectionism and throw-workers-to-the-wolves free trade. Clinton is offering up detailed plans for spending and tax credits and economic regulations that would help workers amid large economic trends she believes can’t be reversed. There is no reason to presume that Trump’s simplistic tale will carry the day politically.

 

By: Greg Sargent, The Plum Line Blog, The Washington Post, June 29, 2016

June 30, 2016 - Posted by | Donald Trump, Hillary Clinton, Workers | , , , , , , , ,

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