Everything Donald Trump Has Said About The Economy In His First 100 Days As Nominee
POLITICO recently compiled a collection of everything controversial Republican presidential nominee Donald Trump has said about his potential presidency in his first 100 days since becoming the presumptive nominee.
For investors wondering what economic moves the unpredictable Trump would make, here’s a look at all the economic headlines out of the Trump campaign since early May:
- May 4: After campaigning against minimum wage hikes during the primary season, Trump told CNN, “I am open to doing something with it.” He added this openness is “very different from most Republicans.” Trump concluded, "You have to have something that you can live on.”
- May 6: Trump, who is the self-proclaimed “king of debt,” told CNBC he's open to the idea of negotiating lower national debt payments to creditors. “I would borrow, knowing that if the economy crashed, you could make a deal,” he said. “And if the economy was good, it was good. So, therefore, you can’t lose.”
- May 8: Trump indicates willingness to change his stance on tax cuts for the wealthy. “For the wealthy, I think, frankly, it’s going to go up. And you know what, it really should go up,” he told NBC. “Lower taxes for business, lower taxes for the middle class, lower taxes for everybody and then we’re going to start negotiating.”
- May 11: POLITICO reports Trump has hired conservatives Larry Kudlow and Stephen Moore to rewrite his tax plan. Raising rates on top earners is reportedly among the changes being considered.
- May 13: When ABC asks about his tax plan, Trump says, “It’s none of your business.” Trump spokesperson Hope Hicks denies Trump is changing his plan even though economists have been asked to draft revisions.
- June 20: A Moody’s Analytics report claims Trump’s economic plan would “significantly” weaken the economy. The report notes Trump’s plan would trigger a “lengthy recession,” would eliminate 3.5 million jobs and would lead to a 7 percent unemployment rate.
- June 24: In the aftermath of the surprise Brexit vote that threatens the stability of global financial markets, Trump is asked about the Brexit's potential impact at an event in Scotland. “When the pound goes down, more people are coming to Turnberry,” Trump said of his Scottish golf resorts. “Basically, they took back their country. That’s a great thing,” he added.
- July 26: On Fox News, Trump was asked about a minimum wage hike and provided the following contradictory reply: “There doesn’t have to be. Well, I would leave it and raise it somewhat.”
- August 8: After previously denying a rewrite of his tax plan, Trump unveils a brand new plan in an economic speech in Detroit. Trump's new plan raises the proposed rate for top earners from 25 percent to 33 percent.
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