3 Questions Dave Ramsey Asked Donald Trump About Finances, the Economy and More
Written by
Travis Woods
Edited by
Gary Dudak
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The latest American presidential election cycle is about to reach its climax. In just a few weeks, voters will decide whether Vice President Kamala Harris or former President Donald Trump is the best person to lead the ship of state into the next chapter of American history. And of course, a crucial deciding factor in this (or any other) election: The economy.
Curious as to what Trump’s plans are for the American economy if he wins the 2024 election? Finance media personality and CEO of Ramsey Solutions, Dave Ramsey, recently sat down for a one-on-one interview with the former president. In the 25-minute video chat, the two discussed America’s economic future, energy solutions and much more. Here are three specific issues Ramsey raised with Trump.
Small Business, Low Taxes
Ramsey said to the former president, “I’m a small-business guy. If you lower my taxes, it doesn’t mean I put it in my pocket. It means I hire people. Talk about lowering taxes in the first year of your administration.”
Trump noted that he plans to lower taxes in two phases. The first is to continue lowering the corporate tax rate. In his first administration, the corporate tax rate lowered from 39% to 21%. In a second administration, he would aim to drop the rate from 21% to 15%, but with the caveat that “you have to manufacture your product [in the United States].”
The second phase of his plan to aid small business in America would be to place tariffs on foreign products sold in America to keep American companies competitive.
Inflation
Ramsey pressed Trump on what the primary financial pain point is for most Americans. The candidate stated that he viewed inflation as the issue.
“People are getting wiped out like never before,” Trump said. “I think it’s the highest inflation we’ve ever had. They say it’s the highest in 48 years. I think it’s the highest ever.”
Energy
So, how would Trump tackle the rising inflation costs?
“The first thing you have to do is get the energy [costs] down … If you get the energy down, other things are going to follow,” he claimed.
Trump added, “I’ll be able to get energy down to 50% of what it is now in a period of less than year” by removing regulatory restrictions around fracking and oil drilling, asserting that “if we do that, all those inflated prices are going to come down.”
Want to learn more? You can watch the full interview on YouTube, or listen to it on the Ramsey Network App.
Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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