ALBAWABA – Donald Trump, the former US President and 2024 presidential candidate, warned of a potential economic depression if Vice President Kamala Harris wins the upcoming US elections.
Trump warns of potential economic depression
Trump posted on ‘X’ earlier today: “If Kamala wins, you are 3 days away from the start of a 1929-style economic depression. If I win, you are 3 days away from the best jobs, the biggest paychecks, and the brightest economic future the world has ever seen. Kamala’s inflation nightmare has cost the typical American family $30,000 dollars in higher prices—and now, she wants to impose the largest tax hike in American history, and raise your taxes by $3,000 dollars a year. I will massively cut taxes for workers and small businesses—and we will have NO TAX ON TIPS, NO TAX ON OVERTIME, and NO TAX ON SOCIAL SECURITY benefits!”
Trump stated that Harris would lead the nation into a severe economic depression, claiming her policies could result in an economic depression like the one experienced in 1929.
"Kamala’s inflation nightmare has cost the typical American family $30,000 dollars in higher prices—and now, she wants to impose the largest tax hike in American history, and raise your taxes by $3,000 dollars a year," Trump posted on X
The republican candidate highlighted his plans for tax cuts and border security, contrasting them with Harris’s policies, which contributed to inflation, as he claims.
Additionally, Trump accused Harris of imposing a significant tax hike of approximately $3,000 per year.
1929 Economic depression
The US experienced a significant economic depression in 1929, known as the Great Depression, which lasted until 1939.
This period was marked by high unemployment, deflation in other countries, a 47% decline in industrial production, and a 33% drop in the price index.
