Donald Trump was gifted $400M by his father, and still filed for bankruptcy six times

breaking down the debate KLA Harris and Donald Trump on their economic plans Chris grae here Augusta free press one thing you hear from supposed independent voters if you watch the uh cable news and you shouldn't I do I leave it on I'm a news person I kind of have to during the day and into the evening you hear from these supposed independent voters who complain that all they want to do is hear more from the candidates on the issues they really don't you hear from the these folks on the issues quite enough but let's just go into it here we heard plenty from KLA Harris and Donald Trump on the issues in the ABC News debate a couple nights ago and what we're going to do here at AFP over the next several days given that Donald Trump said today he's not going to debate anymore uh we have plenty of time to do this I guess because we won't have any more any more content to add to this I guess uh we're gonna we're going to build a sort of voter guide by looking at things issue by issue and we're going to start today with the economy so what will KLA Harris and Donald Trump do to build on the economy we have now let's start with a kamla Harris plan I'll call it bottom up um and just to signpost here to use a debate term from my high school debating days uh I'll I'll tell you that the Donald Trump plan is top down and hey you may like top down you may prefer bottom up let's just see uh Harris at this week's debate talked up two main things an expansion of the child tax credit and expansion of the tax deduction for people starting new small businesses uh what she had to say about the child tax credit I intend on extending a tax cut for uh those families of up to $6,000 of $6,000 I should say which is the largest T tax tax credit that we've given a long time so that these young families can afford to buy a crib buy a car seat buy uh cloth with their children basically uh for newborn babies for the first year a $6,000 tax credit for those families then $3,600 a year for children thereafter uh the current system uh which is expiring in 2025 because of a Republican vote uh in the um Congress in fact in the Senate last month uh would revert back in 2025 to $1,000 a month for everybody uh for all kids uh on the small business thing um $50,000 tax deduction to start up small businesses uh she said quote knowing that they are the backbone of the American economy uh so the that part of things uh on average according to the small business administration it cost $40,000 to start a new small business and so this $50,000 tax deduction it's not a handout it's a tax deduction so it's not like a check here's $50,000 go start your small business because then everybody would be applying for that you still got to show the gumption the ability to get the business off the ground you get through the first year you file your taxes you get a $40,000 excuse me $50,000 deduction um that will you know at least make up for your investment into your small business and why this is important there are $33 million excuse me 33 million small businesses in the United States austa Free Press is one of them uh and those 33 million small businesses account for roughly 46% of all private sector jobs so it's not just my for austa free press for example not just my full-time job not just another full-time job in the case of my wife we actually have a third employee full-time outside of our family a third reporter full-time and we have a number of small uh of um Freelancers uh who earn uh anywhere from $500 to $1,000 a month writing for us so um that's extra income for them on top of what they make elsewhere but uh I mean that's just to illustrate to you uh how um you know small business isn't just and not not that it's a bad thing but if it's just one person working in a small business they've created a job for themselves that's why the Comm Harris plan thinks it's important K Harris thinks it's important uh to to help these these folks out now the Donald Trump plan is topped down uh top down because the emphasis is on tax cuts for billionaires uh and that's true that's not hyperbole that's true uh and the way he pays for those tax cuts for billionaires at least the way he claims to pay for them is through the imposition of tariffs so uh these these tariffs uh he put in place back in 2018 after the 2017 tax cut for billionaires which cost $150 billion a year um dwarfing the cost of every other tax cut that you can possibly have uh his quote from the debate we're doing tffs and other countries other countries are going to finally after 75 years pay us back for all that they've all that we've done for the world so that's that's what he says he says that tariffs will pay us back for all that we've done um the analysis is yeah Trump imposed tariffs uh a new round of tariffs including um rather significant tariffs on China in 2018 and it didn't work even to according to a conservative think tank American action Forum uh the tariffs ended up costing us consumers $195 billion billion with a and that led to the loss that those tariffs led to the loss of $24 5,000 American jobs you may remember that particularly the agriculture sector was impacted um to to the tune that the the Trump administration had to to quickly um uh approve $20 billion plus in subsidies for American farmers because of the losses they suffer basically when we put High tariffs on China uh and China products the Chinese responded in kind and made it hard and and and almost impossible in a lot of cases for American Agricultural products to get into their country and um trade Wars don't work let's just say that and that's what Trump started uh another independent analysis from a group called The Tax Foundation uh called the Trump tax tariffs quote one of the largest tax increases in American history because in effect a tariff is something slapped on the price of a good coming in from outside of the country when it gets to the country so let's say it's a China company that's a Chinese company that is selling a good the Chinese company doesn't pay the Tariff the Importer pays the Tariff the the Importer is an American company and so all it does is make the Chinese uh product more expensive the reason tariffs were used back in let's say 18th century early 19th century throughout the 19th century into the 20th century was not to raise money but in fact to uh give protection to American industry whatever the industry might be to allow it to better compete with foreign industry uh and and build up from inside it can take years decades for that to happen and Trump's not talking about tariffs building up American manufacturing for example or any other industry he's talking about it being a revenue enhancer so he doesn't even get the part where tariffs might work right and even then when you say they might work it's a concession that they might work but they'll take a long time to get there in the meantime we either do without the products that are going to be that will cost too much or we'll pay a lot more for them in the form of uh you know hundreds of billions of dollars that's and that's what we've been doing here uh so now what instead of instead of learning the lesson from 2018 what Trump's been saying campaign rallies is he would dramatically increase the tariffs on China uh and Chinese made goods from a range of 10 to 25% now to 60% if he's elected president uh across the board and that combined with other proposed new tariffs in this Trump in the Trump plan would amount according to the tax Foundation to a $524 billion a year tax increase and lead to the loss of 684 th000 us jobs that's what you want to vote for I mean maybe maybe you do maybe that makes you better off if it's not your job if you know you're not someone who relies on consumer goods a lot to get through your life somehow um that's probably all good for you um so uh this is where we are uh and and again that $524 billion a year um that's what we will end up paying it's not something we'll pay in tax to the US government we'll just end up paying a lot more to well in effect pay for China's tariffs um and this is all part of a scheme by Trump to continue to give the top uh 1% uh a massive tax increase that uh the Trump tax cuts from 2017 expire next year uh this will be a bone of contention for congress whoever's president whoever's even in control of the House and Senate it's going to be a bone of contention according to the tax policy Center um uh households with incomes in the top 1% in 2025 if this is renewed will receive an average tax cut of more than $60,000 $660,000 for the top 1% for the rest of us well excuse me for the bottom 60% I I shouldn't have said the bottom 99 or in in insinuated bottom 99% just the bottom 60% uh less than $500 so um I don't know I imagine a lot of the folks watching this this video are probably in the middle of 39% so maybe that doesn't affect you you're somewhere between 60,000 and 500 you're closer to 500 let's just be fair um but again you're not getting you're not getting those tax cuts if you're in the upper 1% and you're watching this man you I'm surprised but uh uh in any case um this is the version of the top down strategy that Ronald Reagan popularized in the 1980s called trickle down economics except that the economics didn't trickle down too much to the rest of us if you have any questions for me any comments whatever feel free to email me at Chris austree breast.com