By Oliver Seneca
Middletown, PA – Penn State Harrisburg’s School of Business Administration presented a seminar to students and faculty members about the presidential candidates’ economic policies, on their key differences and implications.
From freshmen to seniors, students of all ages filled the Gallery Lounge at Penn State Harrisburg’s Olmsted Building on September 28, to hear the different economic plans proposed by all four of the presidential candidates (Donald Trump, Hillary Clinton, Gary Johnson, and Jill Stein), as well as to ask some questions to the panelists about the policies and the economy in general. Some of the panelists were the economists Indrit Hoxha, Sabri Yilmaz, Nihal Bayraktar, and David Buehler.
Dr. Nihal Bayraktar started the presentation discussing where the economy stands today and how it has changed since the financial crisis of 2007 and 2008. “The U.S. economy has been doing well as the unemployment rate is currently at 4.9%. We are the strongest country in the rich world,” said Bayraktar.
Bayraktar explained what the candidates believe were the most important topics regarding making the economy even better, which included healthcare, infrastructure, and taxes. These topics were split up among each of the panelists, who provided an overview for each candidate’s views with the use of quotes and graphs in a PowerPoint presentation.
The discussion was focused on the two major party candidates, Republican nominee Donald Trump and Democratic nominee Hillary Clinton, leaving little time for the Third Party candidates, Gary Johnson and Jill Stein.
Next, Dr. Sabri Yilmaz explained, “health care spending is the largest and fastest growing part of the non-interest federal budget.” Yilmaz continued by pointing out that the major difference between the two nominees is that Trump wants to repeal Obamacare while Hillary wants to expand and revise it.
After looking at all of the data regarding infrastructure improvements and tax changes, Dr. Indrit Hoxha pointed out that Clinton appeared to have clearer policies that would be estimated to have less debt than the more broad and unclear policies proposed by Trump. The latest reports estimate shows Clinton’s plan would add $200 billion to the national debt over the next decade, while Trump’s would add $5.3 trillion.
Students and faculty members asked questions that ranged from what flat taxes were to what the future of social security will be. Each panelist had an opportunity to chime in to help answer each of the questions with the proper facts and information.
Here’s a brief list on some of Donald Trump and Hillary Clinton’s policies on the economy:
– Extra spending on infrastructure, veterans, and education
– Business tax cuts
– Reduce number of income brackets, cut taxes at all income levels
– Repeal and replace Obamacare
– Invest $275 billion over 5 years in infrastructure repair
– More government spending for communities in poverty
– Increase the taxes on Wall Street, and those making above $5 million a year
– Revise Obamacare, expand the Affordable Care Act.