The Daily Money: Which candidate is better for the economy?
Good morning! It's Daniel de Visé with your Daily Money.
Who would be better for the economy − Biden or Trump?
President Joe Biden and former President Donald Trump have laid out starkly contrasting blueprints for the U.S. economy as they vie for a second term in November, Paul Davidson reports.
Trump has said he would seek to extend and expand his 2017 tax cuts, severely restrict illegal immigration while deporting millions of foreign-born residents, impose tariffs on all U.S. imports, and roll back much of Biden’s campaign to transition the nation to clean energy.
Biden would extend some of the Trump tax cuts − but not for wealthy individuals and corporations; establish more targeted tariffs on Chinese imports; and toughen immigration constraints, but not nearly as dramatically as Trump.
Whose platform is better for the economy? The experts speak.
Salaries will lag inflation for a while
If you found it increasingly hard to make ends meet over the past five years, it’s probably only going to get worse, Medora Lee reports.
Over that span, 97% of occupational salaries have failed to keep up with inflation, said personal finance platform Moneywise, which analyzed data from the Bureau of Labor Statistics (BLS), the Federal Housing Agency (FIFA) and Redfin.
And it likely won’t get much better.
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📰 A great read 📰
Finally, here's a popular story from earlier this year that you may have missed. Read it! Share it!
This story, in truth, is only a couple of days old. But a lot of you read it and, because of the holiday, a lot of you probably missed it.
Shares of Trump Media & Technology Group, Donald Trump’s namesake social media company, tumbled Tuesday as the stock continued a long slide that began with the former president’s guilty verdict on all 34 felony counts in his criminal hush money trial, Jessica Guynn reports.
Trump Media, which trades under the vanity ticker “DJT,” has tanked 39% since May 30, when a New York jury found Trump guilty of falsifying business records.
Trump Media is proving to be a risky proposition for investors.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.
