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Republican presidential nominee, former President Donald Trump gestures at a campaign rally at The PPL Center on October 29, 2024 in Allentown, Pennsylvania. With one week until Election Day, Trump is campaigning for re-election in the battleground state of Pennsylvania. (Photo by Chip Somodevilla/Getty Images)
Photo by Chip Somodevilla/Getty Images

‘You’re a liar panic tweeting at 1 AM’: Donald Trump forgets it is not 1929 and evidence of his limitless potential as a failure exists

Those are some big words for someone who doesn't understand basic math.

Donald Trump‘s late-night social media outburst has once again highlighted the stark contrast between political rhetoric and economic reality.

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Since heā€™s been losing ground everywhere and facing the harsh reality of his probable defeat on November 5, Trump has stayed awake late in the night, trying to come up with some big words to show he knows a thing or two about economics. The result is a quick rant on X in which he makes dire economic predictions about Kamala Harrisā€™ potential victory while simultaneously promising an unprecedented economic boom under his leadership.

However, these claims appear to conflict with economic analyses and historical data. Multiple studies suggest that both candidates’ policies would affect the economy differently than Trump claims, with his own proposals potentially leading to higher inflation and significant deficit increases.

Donald Trumpā€™s latest rant shows he doesnā€™t know anything about US economy

Trump’s claims about economic catastrophe under Harris seem particularly ironic given that the stock market is currently near record highs, and multiple analysts paint a different picture than his dire predictions. For instance, Goldman Sachs projects real GDP growth of 2% or more from 2025 to 2027, while Moody’s economists actually forecast more robust economic growth under Harris (2.1%) compared to Trump (1.3%).

When examining Harris’s actual tax proposals, they’re far from the economic nightmare Trump describes. Her plan would provide tax cuts for all income groups except the wealthiest 1%, with the middle fifth of Americans receiving an average tax cut of $1,980. She’s also committed to not raising taxes on anyone earning less than $400,000 annually.

Contrary to what Trump wants his MAGA followers to believe, Harris’s tax plan focuses on working families. She’s proposing to restore the expanded child tax credit of up to $3,600 per child, introduce a new $6,000 credit for families with infants, and create a tax credit of up to $10,000 for first-time homebuyers. For business owners, she’s proposing to let start-ups deduct up to $50,000 in pre-opening costs, a significant increase from the current $5,000 cap.

In simpler words, Harrisā€™ tax proposals determine that the wealthiest people in the U.S. will pay more taxes so that the working class can pay less. So, Trumpā€™s accusation that the average worker will lose thousands more every year is simply a lie. Shocking, right?

To add some extra irony to this whole affair, Trump’s late-night panic tweet about a “1929-style depression” seems particularly out of touch when considering that his signature economic policies had mixed results under his own presidency. His tariffs were found to have either neutral or negative effects on the economy, potentially costing hundreds of thousands of jobs. At the same time, his 2017 tax cuts fell short of Republican promises.

The fact remains that 23 Nobel laureates in economics have endorsed Harris’s proposals as “vastly superior” to Trump’s agenda. So, as it often happens with the rusty gravy can here, his late-night economic forecasting is nothing more than empty rhetoric, a desperate burst of words to trick people into wasting their vote when Nov. 5 rolls in.


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Image of Marco Vito Oddo
Marco Vito Oddo
Marco Vito Oddo is a writer, journalist, and amateur game designer. Passionate about superhero comic books, horror films, and indie games, he has his byline added to portals such as We Got This Covered, The Gamer, and Collider. When he's not working, Marco Vito is gaming, spending time with his dog, or writing fiction. Currently, he's working on a comic book project named Otherkin.