{"id":2309086,"date":"2024-07-26T06:37:02","date_gmt":"2024-07-26T10:37:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jd-vance-may-hold-heterodox-economic-opinions-but-hes-perfectly-happy-being-subservient-to-trump-washington-examiner\/"},"modified":"2024-07-26T06:42:53","modified_gmt":"2024-07-26T10:42:53","slug":"jd-vance-may-have-unconventional-economic-views-but-he-willingly-aligns-himself-with-trump-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jd-vance-may-have-unconventional-economic-views-but-he-willingly-aligns-himself-with-trump-washington-examiner\/","title":{"rendered":"JD Vance may have unconventional economic views, but he willingly aligns himself with Trump &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjd-vance-may-have-unconventional-economic-views-but-he-willingly-aligns-himself-with-trump-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2309086&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The \u2063article discusses Republican Sen. J.D. Vance, who has emerged as \u200ba\u200d key figure in the Trump-aligned GOP, particularly as the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/outright-auditions-playing-out-as-vice-president-hopefuls-try-to-co-star-on-trump-2024-ticket\/\" title=\"VP hopefuls audition for co-starring role on Trump&#039;s 2024 ticket\">vice \u2063presidential nominee<\/a> for Trump&#8217;s 2024 \u2063campaign. While Vance shares many populist views with Trump, especially regarding economic policies, he diverges \u200bin specific \u200careas. Both politicians advocate for protectionist economic strategies, such as skepticism towards open trade with China and\u200b a disdain for institutional elites. They \u200dare opposed to\u200c President Biden&#8217;s\u200d environmental policies and support tariffs \u200dto <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-pledges-multi-million-dollar-package-to-shore-up-u-s-supply-chains-of-rare-earth-materials\/\" title=\"Biden pledges multi-million dollar package to shore up U.S. supply chains of rare earth materials\">bring manufacturing jobs back<\/a> to the U.S.<\/p>\n<p>However, their philosophies conflict on issues like corporate tax rates; for\u2063 example, Vance has\u200b opposed further decreases \u200bto corporate taxes, unlike Trump, who \u200bsignificantly lowered them in 2017. Moreover, \u200dVance has proposed imposing higher\u2064 taxes \u200bon university\u2064 endowments, a stance that exceeds Trump&#8217;s \u2062previous policies. A notable divergence is Vance&#8217;s skepticism about\u200b the\u200d U.S. dollar&#8217;s role \u200bas the world&#8217;s reserve currency, expressing concerns that it may lead \u200bto economic stagnation in certain\u2063 regions. He has even indicated a\u200c willingness \u2063to consider devaluing the dollar, arguing that\u200d doing so could make\u2064 U.S. exports \u2063more competitive. while \u200cVance aligns with Trump\u2019s overarching themes, his\u200d heterodox economic views may create tension within their\u2063 political partnership.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-sacff-txt\">Magazine &#8211; Business<\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">JD Vance may hold heterodox economic opinions, but he&rsquo;s perfectly happy being subservient to Trump<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1708329\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>Republican vice presidential nominee Sen. <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/jd-vance\/\" target=\"_blank\" rel=\"noopener\" title>J.D. Vance<\/a> (R-OH) has been heralded as a sort of intellectual progenitor of &ldquo;Trumpism&rdquo; as a political philosophy. The Ohio senator&rsquo;s career has evolved from his bestselling memoir and excursions in venture capital to becoming former President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\" target=\"_blank\" rel=\"noopener\" title>Donald Trump&rsquo;s<\/a> running mate on the 2024 GOP ticket.<\/p>\n<p>But for all of their similarities in worldview, Vance has expressed some stark disagreements with the economic positions of his billionaire boss. The former president&rsquo;s closest allies know that Vance&rsquo;s blue-collar upbringing and intensely personal populist persuasion at times come in conflict with Trump&rsquo;s unparalleled economic priority of American prosperity. But Trumpworld, the GOP, and Trump himself have made clear that where he and the millennial wunderkind disagree, the top of the ticket wins.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Republican vice presidential candidate Sen. JD Vance, R-Ohio, waves as he boards Trump Force Two at Roanoke-Blacksburg Regional Airport, after a campaign rally Monday, July 22, 2024, in Roanoke, Va. (AP Photo\/Julia Nikhinson)<\/figcaption><\/figure>\n<p>The economic agendas of Trump and Vance still broadly overlap, with fiscal policies fueled by protectionist instincts: a justified distrust of open trade with China and disdain for institutional elites like universities and oligopolistic big business that have used government favors to enhance their market power at the expense of consumers. Like nearly all Republicans, Trump and Vance abhor President Joe Biden&rsquo;s green energy handouts and regulation of domestic fossil fuel and mineral extraction and production. The two have championed universal tariffs as a means of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/former-hedge-fund-ceo-david-mccormick-enters-crowded-senate-primary\/\" title=\"Former Hedge Fund CEO David McCormick Enters Crowded Senate Primary\">bringing manufacturing jobs back home<\/a> and specific tariff negotiations as tools of diplomacy. Trump and Vance have flirted with befriending nominally private sector unions as well as cryptocurrencies, and both broadly support the standard Republican preference for deregulation and limited taxation of the middle class while rejecting the historic GOP orthodoxy on reforming entitlements within a decade of reaching insolvency.<\/p>\n<p>Yet at certain junctures, Vance&rsquo;s populism and Trump&rsquo;s pro-growth priorities crucially diverge.<\/p>\n<p>For example, whereas Trump lowered the top marginal <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/prageru-nikki-haley-explains-why-capitalism-wins\/\" title=\"PragerU: Nikki Haley Explains Why \u2018Capitalism Wins\u2019\">corporate tax rate<\/a> from 35% to the European average of 21% with the 2017 Tax Cuts and Jobs Act, Vance has signaled past opposition to further lowering the corporate tax rate. And in some cases, Vance has vastly extended beyond Trump&rsquo;s past policies. Whereas the TCJA imposed a 1.4% on gains incurred by select and expansive university endowments, Vance has proposed imposing 35% tax rates on private secular university endowments.<\/p>\n<p>But no divergence is more foundational to the philosophies of Trump and his running mate than the role and the value of the U.S. dollar.<\/p>\n<p>For years now, Vance has been skeptical of the greenback&rsquo;s status as the world&rsquo;s reserve currency. While questioning Federal Reserve Chairman Jerome Powell, Vance gave us a glimpse at this heterodoxy.<\/p>\n<p>&ldquo;There&rsquo;s a lot of coal in central Appalachia that enables a certain amount of consumption. Obviously consumption is good; people need food and medicine and other things,&rdquo; Vance said. &ldquo;There&rsquo;s also a pretty good argument that for a host of reasons, it causes malinvestment in the region and consequently, you have lower productivity growth, lower innovation, and an economy that is much less diversified and much less dynamic. I am wondering when I hear about the history, what I think about and read about the history of Appalachia and the resource curse, I am struck by the idea that you can make a similar argument about the reserve currency status of the United States dollar.&rdquo;<\/p>\n<p>Vance has grown more vocal over the past year, recently admitting his willingness to devalue the dollar.<\/p>\n<p>&ldquo;&lsquo;Devaluing&rsquo; of course is a scary word, but what it really means is American exports become cheaper, and that&rsquo;s important,&rdquo; Vance told <em>Politico<\/em>. &ldquo;If you want to employ a lot of people in manufacturing, you need to make it easier for us to export and not just import what we need.&rdquo;<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/strong><\/p>\n<p>In this schism, just as with Trump&rsquo;s decision to double down on plans to further slash the corporate tax rate to 15%, all signs point toward Trump&rsquo;s preference winning out over Vance&rsquo;s. The brevity of the new RNC platform, as well as Trump&rsquo;s reported veto power over the document, means that every point made is intentional and a salient priority of Trump&rsquo;s. The platform enumerates just 20 promises, one of which explains that Trump will &ldquo;KEEP THE U.S. DOLLAR AS THE WORLD&rsquo;S RESERVE CURRENCY.&rdquo;<\/p>\n<p>While Trump has blasted other countries for committing currency manipulation and echoed Vance&rsquo;s opposition to our vast trade deficit, a trade deficit, itself a value-neutral proposition, is a small price to pay for the global privilege of the greenback&rsquo;s reserve status. The high value of the dollar has been crucial in slowing inflation from its worst crisis in 40 years, and the power of the dollar is the only remaining resource allowing our government to borrow some $2 trillion in deficit spending for (relatively) cheap.<\/p>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1708329\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1708329\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>**Read more&#8230;**<\/p>\n<p>**Magazine &#8211; Business** <\/p>\n<p>Senator J.D. Vance (R-OH), the Republican vice presidential nominee, may have unconventional economic views, yet he is content to align himself with Trump. Vance has been recognized as an intellectual figure behind &#8220;Trumpism&#8221; as a political ideology. His journey has transitioned from authoring a bestselling memoir and engaging in venture capital to becoming the running mate of former President Donald Trump for the 2024 GOP election. Despite their shared perspectives, Vance has voiced significant disagreements with Trump&#8217;s economic policies. Those close to Trump understand that Vance&#8217;s working-class background and personal populist approach sometimes clash with Trump&#8217;s singular focus on American economic prosperity. However, the Trump camp, the GOP, and Trump himself have made it clear that in instances of disagreement, the candidate at the top of the ticket prevails.<\/p>\n<p>The economic strategies of Trump and Vance largely align, driven by protectionist sentiments, including skepticism towards open trade with China and a disdain for elite institutions like universities and large corporations that have leveraged government support to boost their market dominance at the expense of consumers. Like most Republicans, both Trump and Vance oppose President Joe Biden&#8217;s green energy subsidies and regulations affecting domestic fossil fuel and mineral production. They advocate for universal tariffs to revive manufacturing jobs in the U.S. and view specific tariff negotiations as diplomatic tools. Both have shown interest in collaborating with private sector unions and cryptocurrencies, while generally supporting the traditional Republican stance on deregulation and limited taxation for the middle class, diverging from the GOP&#8217;s historical approach to entitlement reform.<\/p>\n<p>However, there are key areas where Vance&#8217;s populist views and Trump&#8217;s pro-growth agenda diverge significantly. For instance, while Trump reduced the top corporate tax rate from 35% to the European average of 21% through the 2017 Tax Cuts and Jobs Act, Vance has indicated opposition to further tax cuts for corporations. In some instances, Vance has proposed more drastic measures than Trump, such as suggesting a 35% tax on private secular university endowments, compared to the 1.4% imposed by the TCJA.<\/p>\n<p>The most fundamental difference between Trump and Vance lies in their views on the U.S. dollar&#8217;s role and value. Vance has long been skeptical about the dollar&#8217;s status as the world&#8217;s reserve currency. During a questioning of Federal Reserve Chairman Jerome Powell, Vance expressed concerns about the economic implications of this status, suggesting it could lead to malinvestment and hinder productivity growth in regions like Appalachia. Recently, he has become more outspoken about the possibility of devaluing the dollar, arguing that it could make American exports more competitive and boost manufacturing jobs.<\/p>\n<p>In this ideological divide, it appears that Trump&#8217;s preferences will prevail, especially as he pushes for further corporate tax cuts. The concise nature of the new Republican National Committee platform, along with Trump&#8217;s reported authority over it, indicates that every point is deliberate and reflects Trump&#8217;s priorities. Among the 20 promises outlined in the platform is a commitment to &#8220;KEEP THE U.S. DOLLAR AS THE WORLD\u2019S RESERVE CURRENCY.&#8221; While Trump has criticized other nations for currency manipulation and echoed Vance&#8217;s concerns about the trade deficit, he views the trade deficit as a minor issue compared to the benefits of maintaining the dollar&#8217;s reserve status. The dollar&#8217;s strength has been vital in mitigating inflation and allows the government to engage in significant deficit spending at relatively low costs<\/p>\n","protected":false},"author":2693,"featured_media":2309087,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/07\/Vance_GOP_Agenda_7364.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[36282,32082,36283,3634],"class_list":["post-2309086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-economic-views","tag-jd-vance","tag-political-alignment","tag-trump"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/07\/Vance_GOP_Agenda_7364.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2309086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2693"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2309086"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2309086\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2309087"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2309086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2309086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2309086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}