How Would the Policy Proposals of Clinton and Trump Impact SC's Economy? Oct 24, 2016
Scott Baier was interviewed in The State newspaper on the impact of this year's presidential candidates policy proposals. One key concern is the growing anti-trade rhetoric in politics. SC imported over $9 billion of goods from China and Mexico in 2015. Many of these imports are intermediate goods used in manufacturing. Making these imports more expensive through trade barriers would increase "the costs of doing business and may cost jobs in the state rather than create jobs.”
Baier continued his evaluation of the policy impacts: "“You will find varying estimates on the economic impact of the two candidates’ plans,” Baier said. “The success of Secretary Clinton's fiscal plan depends largely on the faith that the government expenditures will help grow the economy and that the higher taxes on top income earners will have little impact on the how they choose to work and spend. For Mr Trump, the success of his plan depends on the belief that lower taxes creates the incentive for the private sector to create jobs and boost economic growth as well as Mr Trump's ability to reduce government expenditures.”"