In an interview, economist Paul Krugman expressed his thoughts about the incoming Donald Trump administration. Aside from calling Trump’s policies both “terrible” and “radical,” Krugman also criticized him for misleading working-class voters.
The Daily Blast’s Greg Sargent asked Krugman about how Donald Trump’s plans would affect voters. Sargent thought that Trump’s tariffs and threats of mass deportations would harm his middle-income voters. Nevertheless, these voters perceived Trump as if he could magically lower inflation. He chimed, “Aren’t those people going to be brutally scammed by tariffs here?”
Krugman agreed with Sargent. “A lot of people are going to get brutally scammed.” The economist talks about the middle-class people who will have to face high prices from Trump’s looming tariffs. Meanwhile, those in upper-income brackets await Trump’s promised tax cuts. Ironically, Trump’s most fervent voters include small business owners who are desperate for growth. This demographic struggles to attract workers because of their inability to raise wages. Krugman doesn’t think that the interests of these business owners are important to Trump. He even went so far as to say that Trump has been “scamming” contractors all his life.
No scarcity of warnings
Arguably, these voters weren’t necessarily “scammed.” Instead, they chose to believe in Trump’s campaign promises and soak deep within his allies’ echo chambers.
Ultimately, it was up to these voters to discern fact from fiction. They were warned about Trump’s agenda by other economists, who viewed his rival’s plans to be “superior.” There were a multitude of discussions about how Trump’s policies are likelier to worsen inflation rather than help it. Nevertheless, the public still gave Trump a vote of confidence—more specifically when it came to the economy. It’s starting to look like the price of eggs is going to move, but not in the direction everyone wants it to.
Published: Jan 16, 2025 12:46 am