FINANCE PROFESSOR: 'There is good reason few economists have endorsed Trump's economic plan'

Over the course of the the presidential election race and during the last few presidential debates, Republican Party nominee, Donald Trump, has informed Americans and the rest of the world his intended plan to raise the U.S economy 3.5 to 4% and generate over 25 million new jobs. Like every plan, most of them sound good, but of course many economists are begging the question whether or not Trump's "America First" plan will actually generate the success he proclaims that it will. Included in this plan is a 45% trade tariff against China, in which judging from past experiences with similar action, many people believe that this will negatively affect the U.S economy due to retaliation from other countries. China is a major trade partner to many countries across the world, and by implementing such a tariff, this could raise and create unneeded tension between the U.S and other countries. The U.S GDP is expected be around 3% in the year 2020, which hasn't happened in the last decade. Trump seems to continuously ignore the economic growth that has taken place over the last couple of years, and it seems there are many doubting that this plan will increase our economy more than it has been, as many believe that it will actually have a negative affect.  President Herbert Hoover signed a tariff similar to the one proposed by Trump in 1930, which deepened the Great Depression. It is easy to see why people are concerned about this tariff plan, seeing that it hasn't worked in the past. Trump also plans to decrease the corporate tax rate from 35% to 15%, and once again, judging by any past actions like this give no reassurance that this would have a positive impact to the U.S economy. Economist believe that this would increase our deficit and predict the loss of millions of jobs. With the amount of taxes Trump proposes to cut, he has still not said how he plans to make up for all of that money that our government would be losing by cutting the taxes, and how he plans to offset them. It would be very risky to cut taxes by such a degree without there being a clear way to off set the money, so maybe the economist's fears are for good reason, and why few have endorsed Trump's economic plan for the U.S economy going forward.

http://www.businessinsider.com/trumps-economic-plan-a-finance-professors-opinion-2016-10