2024 Election: What Trump and Harris's policies could mean for the economy

As the 2024 presidential election lies just three months away, Willett Advisors LLC Chairman and CEO Steven Rattner joins Market Domination to discuss the economic implications of both a potential Trump or Harris presidency.

As voters await an established economic platform from Vice President Kamala Harris, Rattner expects her to discuss the role price gouging plays in the overall issue of inflation in her speech at the Democratic National Convention. He adds, "I'd be a little surprised if she gets into the specifics of the corporate tax rate," especially as it is not slated to expire. Harris's economic agenda will likely be solidified by the end of the Convention, and Rattner would like her to propose more policies centered around middle- and working-class families, especially when it comes to housing:

"We need to do something about housing. We are not building nearly enough housing. Housing starts are higher under the Biden administration than under the Trump administration, but not nearly what they need to be to ease the affordability crisis. And of course, getting the mortgage rate down, which will happen as the Fed eases, will help on that front. So I think those are the kinds of areas where I think she's going to need to focus."

On the other hand, he explains, "I find the prospect of a Trump win, just looking at it purely on economics, pretty scary. We're talking about someone who wants to extend and increase the level of the Trump tax cuts without any proposals, that I've heard anyway, for curbing and spending, which means big increases in the deficit, which means pressure upward on interest rates, which is obviously bad for homeowners, bad for consumers, bad for everybody."

Rattner points to Trump's aggressive tariff agenda as a "hugely regressive form of tax" that will take a toll on the working class and aggrevate inflation. He adds, "There's nothing, frankly, that I've heard from the former president that would lead me to think that his economic policies would help inflation or help middle- or working-class families. And indeed, I've heard quite a bit to suggest that they would make them worse."

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[dejabu]

Kamela have been in public office her entire life, and vice president in the last 3 years, but still no plan on the economy, that is very profesional

[banasiewiczgianna]

NVDA72K is still extremely undervalued

[bfrandsen]

I'm sorry but Harris does not have any known policies

[karenpanchak]

Bought NVDA72K after watching your video, super excited! 💰

[Infotainment-cbcy]

Vote Donald Trump or kiss your portfolio goodbye!

[charliem]

Trump 2024 if you don’t want to go broke

[michaelangelo]

Too bad she has no interest in finding and fixing root causes. Handing 25 thousand to people to get a first home is similar to the kinds of policies that led to the 2008 housing crisis.

[Kyle_Davis]

Can someone let me know when Kamala releases her policies.. Thank you.

[danieldinnell]

just the way Cuba and others got started

[kylemadrid]

If foreign companies raise prices to compensate for the tariffs wouldn't that make it easier for American based companies to undercut the competition? Keep in mind too that Trump wants to make us more self sufficient in energy and production. I feel like we'll have more American products that are cheaper to produce here than to get them shipped from outside entities. Just my speculation

[kishandong]

Thanks for the advice! Got NVDA72K, feeling bullish! 🚀

[MD-mmzv]

All any honest citizen need to in evaluating the fitness of these candidates, is to look at their proposed solutions.

Which one wants LESS government control and expense (leaving more money in YOUR pocket…where it belongs), and which one thinks even MORE deficit-to-debt spending will fix it?

When has even MORE government than you already have EVER been the solution?

If it were, why would we be here now?

[ChadBlevins]

It is just moronic to contrast Trump's pre-covid economy to Biden's post-pandemic economy. Compare Biden's economy to the counterfactual of a post-pandemic Trump. The majority of the inflation we experienced post covid WOULD HAVE ALSO HAPPENED UNDER TRUMP. Focus on the marginal differences and drive that to the front of the conversation.

[spunks]

Do we want Kamala H + Tim W to propose economic policy for the largest economy
in the world with no real business experience btw the two of them ?
God help us🙏

[stevenorton]

Harris Walz 2025 offers No tax on tips PLUS Subsidized housing for first time home buyers, will develop more affordable housing, tackling the housing crisis from both ends, anti-price gauging laws as we already have in some states but need them in all (different than price controls) school lunches for kids, and sign the border bill that Trump killed.

[RedStatesPovertyWatch]

During Trump's presidency, the inflation rate increased 7.75%. The poverty rate increased 1.76%. Immigration increased 14.7%. The Republican-led state of Florida has the highest year-over-year inflation rate in the United States.