The Trump economy continues to smash records, despite Democrats; attempts to downplay the success of Trump’s economic strategy.
However, trepidation is beginning to build on Wall Street that if Democrat presidential hopeful Elizabeth Warren is elected, this age of prosperity will be over, and our economy could be sent into a major crisis, Fox Business reports.
It’s just not realistic
Because Warren is gaining traction in the polls, economic experts are starting to dig into her proposed policies to see just how dangerous they would be.
Many industry experts believe if a Democrat wins in 2020, the economy will crash, but what Warren could do to it is a whole new level of catastrophe.
A research arm of Barclays Bank dove into her economic plan, and the results were not good. For instance, if Warren wins, she wants to add a 7% tax on companies with more than $100 million in profit.
If her plan is implemented, all the money these companies are currently putting into expansion, higher wages, and increasing their staff will suddenly go away.
Warren also has a nine-point eligibility test for trade partners, but the requirements are so stringent, even the United States itself would fail to pass this test, “disrupting global supply chains.”
Another major problem with her plan is that by overtaxing individuals worth more than $50 million, she would, in essence, dry up the investment market.
The more taxes these individuals are paying, the less money they have to invest, causing the market to collapse as investors pull assets out to cover the cost of additional taxes.
One of the scarier aspects of Warren’s platform is that she is already threatening to make sweeping changes via Executive Order.
For instance, at the top of her to-do list is a plan to issue an executive order that would magically erase roughly 95% of existing student loan debt, according to Politico. This would be her answer to dealing with a House that may go red again as well as a Republican majority in the Senate.
The really ironic thing about all of this is the fact that Warren already has her piece of the pie, and now she is trying to prevent anyone else from getting theirs. A major tenet of her platform consists of railing against the wealthy, yet she has a net worth currently estimated at $12 million.