Trumpism, the Economic Wrecking Ball: For much of the past six months, I’ve tried to ignore the political ascent of Donald Trump. Too horrible to be true, I assured myself. But the unthinkable has happened, and Mr. Trump is now the likely nominee of the Republican Party. So what might a Trump presidency bring?
To be frank, the most horrifying aspects of Trumpism are not his economic policies. The worst he could do there would be to precipitate a global depression. It’s far scarier to contemplate an erratic, blustering demagogue taking command of the most powerful military force on earth. Or the foreign-policy calamities that might befall us.
But I’m an economist, so I’ll stick with economics. ...
Let’s tote up the score. Mr. Trump’s tax plan is doable, if Congress is sufficiently pliant. But it would exacerbate income inequality and explode the federal deficit. Mr. Trump’s immigration plans are heartless, hugely expensive and incredibly disruptive to the U.S. economy. His positions on international trade display abysmal ignorance, are economically harmful and threaten America’s standing in the world.
And remember: These are the best parts of what Mr. Trump has to offer.