According to Forbes, the respected financial news website, a vast majority of business and economy experts are choosing Hillary Clinton, and soundly dismissing Donald Trump as a dangerous bet for the America’s financial future. Many are flatly rejecting the Republican nominee and warning that a Trump presidency would result in yet another deep recession for the United States. In a recent survey of business specialists, only 14 percent chose Donald Trump for economic stability or growth.
According to Maggie McGrath of Forbes, business economists are saying that Clinton would do a better job of managing our finally recovering economy, on a 4 to 1 margin. This decision is based on Trump’s declaration of economic isolationism and the repercussions of deporting the country’s estimated 11 million undocumented immigrants as well as rejecting global trade agreements.
The Nation Association for Business Economics (NABE) released an important policy survey on Monday, showing that business economists are far more in favor of Hillary Clinton. The policy survey is conducted semi-annually and reflects the expert opinions of 414 members of the organization. NABE members were asked about their views regarding the 2016 election in relation to the American economy, and results of the survey, and according to LaVaughn Henry, CBE, a NABE director and chair of the NABE Economic Policy Survey Committee:
‘More than three-fifths of respondents believe that uncertainty about the national election is holding back U.S. economic growth.
‘As for which candidate would do the best job as president of managing the economy, a majority (55 percent) choose Democratic nominee Hillary Clinton, followed distantly by Libertarian nominee Gary Johnson (15 percent) and Republican nominee Donald Trump (14 percent). The remaining 15 percent said they “don’t know”.’
As far as Donald Trump’s draconian position on immigrants, 61 percent of NABE respondents recommended more relaxed employment-based immigration politicies, while only 17 percent of respondents suggest more restrictive immigration policies. Another 17 percent said that policy should remain unchanged.
Another issue on Donald Trump’s agenda is economic isolationism for the United States. The majority of NABE economists disagree. Approximately two-thirds (65 percent) or respondents feel that the next president should open up more global trade opportunities, with opinions regarding the Trans-Pacific Partnership (TPP) trade agreement varying only slightly.
Fewer than half of the NABE members who participated in the survey approve of TPP in its current form, while 30 percent feel that it needs better terms for the U.S. before adoption.
Most interestingly, though, there didn’t seem to be any kind of consensus regarding a federal minimum wage change. Slightly over one-quarter of the NABE respondents support an increase at 27 percent, with 29 percent supporting an increase in the minimum wage with exemptions for tipped workers, temporary employees, and teen works. As much as 19 percent of the economists want to see the federal minimum wage abolished, and approximately 21 percent support the current federal minimum wage.
According to Forbes, the NABE makes up a unique group of business economists, as active influencers in business and trade. In a recent interview, Henry told Forbes that NABE survey respondents are:
‘People who advise business leaders on day-to-day and long term issues where the outcome has to be one way or the other.’
Henry also told Forbes that he feels that the NABE economists, who generally lean moderate to conservative, favor Hillary Clinton because the Democratic nominee has had a defined economic plan in place since the beginning of her run for the presidency. This is very much in contrast with Donald Trump’s spotty economic plan that seems to only address a handful of issues that efforts small groups of Americans, such as inheritance taxes, childcare tax deductions, even immigration policy. Henry told Forbes that Clinton’s economic plan inspires the somewhat traditional NABE members because:
‘A definitive plan has been out there for months to stew over and study and make decisions about. It’s one thing to say, “this is my plan, A-B-C-D,” versus, “just trust me.”‘
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