Look, one of the least important threats that a Trump Restoration would bring is bad policy. Not malicious policy, like weaponizing the government and destroying democratic practices, but just run of the mill bad policies. Chait and Milan Singh take note of what the effects would be. Chait is more focused on the political impact, which is that a tax cut in this environment will send interest rates spiraling upwards. Right now, interest rates are the anchor on the economy, but in a good way. We have a hold on inflation, but it's not tamed. Wages are still rising, which means that inflation will keep rising, especially in rent and anything linked to oil.
Another tax cut will explode the deficit even more. After a quarter century of not really having to care about the deficit, we kind of have to do. We don't need a lot of austerity, but we have to start claiming more non-wage income from the top 5%. Trump and Republicans oppose this, but if they come back into power and cut taxes, we will either enter massive austerity or we will see interest rates explode where they go from an anchor to a hole in the bottom of the boat.
Democracy and women's rights are the two most important issues in this election, but Republican plans to explode America's fiscal situation is important, too.
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