Finance of Politics

Trump Promises Massive Tax Cuts and End to Inflation by Increasing Fossil Fuel Production

Donal Trump giving a speechAt the Republican Party’s convention in Milwaukee last Thursday, Donald Trump promised to lower taxes as well as revert to encouraging fossil fuel extraction. The forme US president still believes that the climate-related programs are scams. Apparently Trump believes that the only way to stop inflation tis by increasing the country’s production of fossil fuels, for which the Republican presidential nominee chanted “We drill, baby, dril.” Trump fueled the imagination of his supporters by telling them that the US has more liquid than any other country in the world.

He argued that focusing on fuel production will result in the lowering of energy prices, bring down all other costs not only of transportation but also manufacturing costs in order to reduce the cost of all household goods.

Concerns Have been Raised Over Trump’s Agenda if He Succeeds Winning a Second Term

climate related protestsTrump vows to put an end to the Democrats’ green projects, which he branded as a scam and a waste of taxpayer money that has been fueling the country’s inflation problem. As it is, the ex-president still do not perceive the worsening climate conditions and calamities as environmental problems that require critical and immediate solutions.

Trump’s invocation of new promises in his convention speech came after surviving last Saturday’s assasination attempt. He considers surviving the incident as as a sign of divine intervention so that he can perform his future role in uniting the American people as one great nation. A great part of this plan is focused on cracking down on illegal migrants and all migration activities at the Southern U.S. border.

Moreover, his proposals to lower taxes and provide economic relief by ordering massive tax cuts for workers are raising financial concerns. Based on the results of an analysis performed by the Tax Foundation, cutting taxes at a rate of 15% which is roughly about $673 billion, will greatly impact the country’s already large budget deficit.

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