Semoon Chang, a prominent and well-known economist and contributor to the Korea Times, has joined over 150 economists to sign the following:
Statement by Economists Concerned by Hillary Clinton’s Economic Agenda
The outcome of this year’s presidential election will influence the U.S. economy for years to come. Should Hillary Clinton win that election, her outdated policy prescriptions won’t return our economy to the faster growth rates it once enjoyed. And without more economic growth, her agenda won’t result in more jobs or a higher national standard of living. Hillary Clinton’s economic agenda is wrong for America.
The U.S. economy is underperforming. Misguided federal policies have produced one of the slowest recoveries on record. Since early 2009, the economy has grown at an average annual rate of 2 percent. It could and should be growing 3 to 4 percent.
Hillary Clinton promises to repeat almost all of Obama’s policy mistakes. She wants yet another massive debt-financed public works program; she wants to raise tax rates on investment and incomes to nearly 50 percent; she wants to raise the federal minimum wage to at least $12 an hour and supports state and local efforts to hike theirs; she wants to stall America’s development of fossil fuels; she wants to continue the Obama administration’s regulatory assault on business and entrepreneurship; and she wants to double down on ObamaCare.
What America needs, and what Americans deserve, is an agenda of economic freedom: limited but effective government, policies that rely on and strengthen markets, pro-growth tax reform, sensible federal spending restraint, regulatory relief, sound money, and freedom to trade. These things are necessary if we are to revive American prosperity.
For these reasons and more, the undersigned urge everyone concerned about threats to American prosperity to reject Hillary Clinton’s ill-advised economic agenda.