Investment guru Jack Bogle warns that President-elect Donald Trump's proposals are bullish for stocks in the near term but are "bad for society," the market and the economy in the long run.

The Vanguard founder said Trump's promise to spend about $1 trillion on infrastructure would be positive in the short run. However, he said execution could be "easier said than done," especially given the amount of deficit financing required, CNBC.com reported.

Trump's overall vision for America — such as a tougher stance on international trade and a tilt toward more nationalist foreign policy — would be detrimental to prosperity over time, Bogle told CNBC.

"So there's a tension between the bullish short [run], and I think more difficult long [run] — not that it matters to a long-term investor at all," he said. "And it matters even less to an indexer, who simply rides the market wave, which has been a hugely profitable thing to do."

Bogle reiterated his mantra: Invest for the long term and forget the "momentary distractions" of what Trump is saying at one news conference or one tweet. "This is a funny time in America," he told CNBC.com.

However, other respected economic voices are cautiously optimistic about Trump.

Trump should push massive tax cuts as his first priority so the American people feel a positive result of their vote immediately, Forbes Media CEO Steve Forbes tells Newsmax TV. 

"Throw the Congressional Budget Office aside and say we need something big to get this economy moving," Forbes told "Newsmax Prime" host J.D. Hayworth on Wednesday.

Trump must take the lead and make clear what he wants done. Then his staff, including his nominee to head the Treasury Department, Steven Mnuchin, will follow, said Forbes, author of "Reviving America."

Trump's team must overcome House Republicans who are pushing something called a "Border Adjustment Tax," he told Newsmax TV, which Forbes said essentially is just a sales tax for the American consumer.

(Newsmax wire services contributed to this report).

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