Paul Krugman warns Trump supporters: Economic policies may lead to financial scams

Renowned economist and Nobel laureate Paul Krugman has issued a grim warning to voters of President-elect Donald Trump, cautioning that many of his supporters could face significant financial consequences under his proposed economic policies. Speaking on The Daily Blast podcast, Krugman criticized Trump’s economic agenda, predicting disproportionate harm to working-class Americans. Krugman’s critique centers on Trump’s plans to raise tariffs and cut taxes for high-income earners. He argued that these measures could burden small business owners, many of whom are part of Trump’s base. Higher tariffs could drive up costs for businesses, which would likely pass the increases on to consumers, intensifying economic strain for everyday Americans. The economist also described Trump’s fiscal strategy as regressive, suggesting it redistributes wealth from low-income earners to the wealthy. "Trump’s history of failing to pay contractors underscores a troubling pattern of exploiting those who support him,” Krugman said, highlighting the potential risks of misplaced trust in his administration. Another point of contention is the Trump team’s apparent lack of preparedness to address the fallout from these policies. Krugman voiced concern about the administration’s inability to offer robust economic guidance, warning that the combination of tariffs and mass deportations could disrupt industries heavily reliant on immigrant labor, worsening existing economic challenges. This isn’t the first time Krugman has raised alarms about Trump’s approach to governance. His warning serves as a call for Trump’s supporters to critically evaluate the economic implications of his policies. As the nation braces for a new administration, the divide between promises and policy realities continues to widen, leaving Americans to grapple with the uncertain future of their economy.