There Are Always Tradeoffs

Author

Bubba
09 Sep

There Are Always Tradeoffs

A recent survey suggests affordability is top of mind for American voters on both sides of the aisle. (WSJ)

Chart: The Wall Street Journal

A new Wall Street Journal poll: Some economic policies proposed by Donald Trump and Kamala Harris have won the support of majorities of Democrats AND Republicans.

  1. Capping insulin prices at $35 (Harris)

  2. Ending taxes on Social Security income (Trump)

  3. Removing taxes on tips (Both Trump and Harris)

  4. Capping out-of-pocket drug expenses at $2,000 per year (Harris)

  5. Penalizing companies for price gouging (Harris)

OK, but: Support for many of these policies drops once voters are informed of the tradeoffs.

Chart: The Wall Street Journal

The context: In recent weeks, Harris and Trump have gone head-to-head with a slew of new economic plans designed to assure voters their voices are being heard.

Manhattan Institute senior fellow Brian Riedl’s take:

Another reminder that, if public opinion ruled on every issue, Washington would be bankrupt within a week.

The voting majority believes they should receive unlimited government spending and not have to pay taxes. They see government as Santa Claus.

Bubba’s Two Cents

This seems like a classic game of one-upsmanship, with each candidate making grander promises than the last. It sounds nice, and it’s understandable that they’d try to address the public’s biggest concerns, but who’s footing the bill?