Candidates count on voter stupidity

David MoonBlog

In the next few days, I expect one or both presidential candidates to unveil a bold and fiscally groundbreaking economic initiative: the elimination of all federal income taxes for citizens of Pennsylvania.

That’s where this campaign is.

I halfway chuckled when, in an effort to sway service workers in swing state Nevada, Donald Trump proposed eliminating taxes on tips. It is clearly not a serious policy. So I suppose I shouldn’t have been surprised when Kamala Harris mirrored the idea a few days later, also promising to eliminate taxes on tip income. (According to The Hill, this even caught Senate Finance Committee Democrats off guard, as they’ve typically and wisely dismissed such far-fetched ideas entirely.)

Trump also floated the idea of reinstituting the deductibility of interest on car loans, a proposal that makes no sense on multiple levels – including the fact that 90% of taxpayers don’t even itemize deductions. It only makes sense when you realize that winning Michigan could win him the election. His 60% tariff on goods imported from China is another proposal so ridiculous that it probably isn’t even effective international saber rattling.

Meanwhile, finding herself losing once-guaranteed support among minority voters, Kamala Harris introduced a series of proposals titled Opportunity Agenda for Black Men this past week. These proposals include $20,000 forgivable loans for “Black entrepreneurs and others to start a business” (SIC) and the legalization of recreational marijuana.

I considered making a tongue-in-cheek satirical suggestion about a similar proposal Trump might make to court specific voter group (suburban housewives, rural rednecks, Native Americans, various religious communities, etc.) There are plenty of funny possibilities, but any that are as condescending as legalizing recreational marijuana use as a specific appeal to Black men are too offensive to put in print.

Politicians lie. As we learned during the pandemic, there is even something called a “noble lie.” Every Republican candidate for president promises to repeal the estate tax. Every Democrat candidate promises to raise the corporate tax rate. Obama promised to tax appreciated securities at a person’s death before passing to the heirs, while Bush (the elder) famously offered his “read my lips” pledge.

My hunch is that our country will survive the election of either of these candidates. That’s just my guess. But if you decide to vote for Trump because you think he will lower your car payments or Harris because you believe she’ll give you $20,000 to open a pot store, you are exactly as naïve or stupid as the candidates hope you are.

David Moon is president of Moon Capital Management. A version of this piece originally appeared in the USA TODAY NETWORK.