Name: These are the Economic Takeaways From the RNC
Uploaded: 2016-07-21
Duration: 3 min 28 s
Description: There haven’t been many

At the convention one of the themes has been make America work again, but instead of seeing really concrete economic proposals, we've gotten a lot of hot button political topics. What do you think the economic takeaways are from the convention so far? Well there's been very little discussion of any economic specifics of the convention, and in fact Hillary Clinton and the. Obama administration are vulnerable because of the relatively low growth rates on the last several years, but we haven't seen those issues attacked at all virtually. But what is interesting is that Trump has put down a very interesting tax plan that in fact I had dinner on Tuesday night with a friend who's a big donor Highly intellectual in kind of the Libertarian camp. And he was not a Trump supporter. But he's backing Trump because of this plan which is essentially a 15 % corporate tax rate. Highly simplified individual tax rates. Eliminating interest deductions for both businesses. Maybe individuals as well, so there's a certain intellectual rigor to his tax plan that I think is attracting people who are not attracted by his outrageous statements. I picked up a couple of big economic takeaways. Melania Trump's speech was partially plagiarized, [ LAUGH ] the delegates don't like Ted Cruz, everyone hates Hillary Clinton, so I mean, I don't think any of the stuff that. The kind of things that Sean is talking about have come through in the actual convention and all the headlines have been dominated by this kind of stuff. And growth is a little bit slow in the United States. On the other hand I think it's a little hard for Republicans to say, we need to make America work again, When in the background the stock market is hitting new all time highs every day so that kind of undercuts their. Unemployment is pretty good. Yeah and unemployment is down at a low. I mean that doesn't mean there's no problems in the economy but they're trying to sell us on the idea that the US economy is in dire straights and I don't know if people are really feeling that. Well it's very difficult for them to get highly specific about it too because Trump doesn't wanna touch entitlements. In other words it's fine to cut Taxes, but we're facing a gigantic budget issue. As soon as he gets into office or as soon as Clinton assumes office, it' gonna get worse and worse and worse. It's gonna require both either tax increases or tremendous spending cuts So if you really run all the numbers they don't really add up, unfortunately, and that hasn't been addressed at all. And neither has the huge budget deficit issues. We're seeing a lot of theatrics. I was amazed by Trump appearing just as people were. tension was rising as to whether Cruz was going to endorse him or not and Donald shows up with a big grid in the back of the The stadia that was, the theatrics, the television, as a spectacle is fantastic, but the issues are being neglected. We have a reporter at the convention floor. Fortune Senior Editor Dan Primack is at the convention right now. Dan, what are you seeing? No look I agree with that. We've seen almost no discussion of economics whatsoever. There's been a lot of talk about coal for some reason and coal jobs specifically. You know Trump speaks good rhetoric on coal better than Hillary does clearly except that his plans won't actually get any of these folks their jobs back. That Those jobs are long gone. And including under his plan, Shawn's right. There's been virtually no talk about his tax plan. There's certainly been no talk about economic growth and there's been basically no talk about jobs including on that night that was supposed to be America work again. It's been absent. It's been almost entirely absent.