Top Economist Warns Trump Voters Will Be ‘Brutally Scammed’
According to Paul Krugman, scamming working-class Americans is what the president-elect’s “whole life has been around.”
Franck Robichon/Reuters
Donald Trump’s plans for the U.S. economy are raising red flags with economists, with Paul Krugman issuing a dire prediction for the president-elect’s supporters ahead of his inauguration.
“A lot of people are going to get brutally scammed,” the economist told The Daily Blast with Greg Sargent podcast, by the president-elect’s “really radical” and “terrible” economic policy proposals.
According to the Krugman, working-class Americans, many of whom cast ballots for Trump, will suffer under his plan to raise tariffs and cut taxes for high earners, describing the president-elect’s policy as “contrary to their interests,” noting that tariffs would drive prices up.
“Scamming people like that is what his whole life has been around,” he added.
American households say they are already strained financially by inflation, which remains above the Federal Reserve’s two percent target. Throughout his campaign, Trump vowed to reduce grocery prices but despite these promises, he has began walking back his price reduction claims in recent weeks.
The economist, who won the Nobel Memorial Prize in Economic Sciences in 2008, also pointed to the impact of Trump’s mass deportations on the economy as being significantly disruptive.
Get the best of The Beast delivered right to your inbox
By clicking “SUBSCRIBE” you agree to our Terms of Use and Privacy Policy.
A large exodus from the workforce would, Krugman argued, raise prices in agricultural, food processing, and construction industries, ultimately caused a labor shortage for large-scale projects.
As a whole, Krugman claimed, Trump “appears to have an extremely regressive economic program in mind, one that really will effectively redistribute income away from working-class voters to the top.”
“Trump wants to turn the clock back to 1896, and that’s not good for the U.S. economy,” he added.
See more of our coverage in your search results.
Got a tip? Send it to The Daily Beast here.
Unlock a year of full access to The Looker and The Daily Beast for $35.
Monthly
$1
First month then $5.99/month
Annual
$35
First year then $59.99/year
Premium
$79
First year then $119.99/year
*Substack access provided by the next business day, using your subscription email. Choosing the Premium plan constitutes your permission to share your subscription email with Substack and your agreement to Substack’s Privacy Policy.
Looks like you already have a subscription!
You're all set!
Thanks for subscribing.
Register below to read this article for free or subscribe
to unlock unlimited access to The Looker and The Daily Beast.
Monthly
$1
First month then $5.99/month
Annual
$35
First year then $59.99/year
Premium
$79
First year then $119.99/year
*Substack access provided by the next business day, using your subscription email. Choosing the Premium plan constitutes your permission to share your subscription email with Substack and your agreement to Substack’s Privacy Policy.
Already have an account? Sign In
Looks like you already have a subscription!
You're all set!
Thanks for subscribing.
Sign in
Login dialog