Trump had tariffs, lower taxes, energy independence, rapid economic growth, and extremely low inflation during his four years in office. Americans of all races and all economic levels, especially those at the bottom, saw rapid real wage growth. Poverty hit an all-time low at the end of 2019 before COVID hit. Income inequality was being reduced.
Contrary to what Obama says today, Trump did not inherit a great economy from him. Trump
inherited slow economic growth from the Obama-Biden years, along with the slowest economic recovery in seventy years. Big government is the problem.
Economists like Paul Krugman and Mark Zandi said the economy would be a disaster if Trump was elected. They were 100% wrong.
The experts, including economists, said his tariffs would cause inflation. They were 100% wrong. Essentially, China ate a lot of the tariffs, just as Trump said.
The CBO and other supposed experts said Trump’s tax rate cuts would increase the deficit by trillions. They were 100% wrong because revenues increased substantially.
The economists did not predict the high inflation that Biden-Harris policies have caused. They inherited a rapidly growing economy and threw gas on the fire with massive government spending, a huge increase in regulations, open borders that flooded America with illegals, and a radical energy policy that seeks to destroy reasonably priced energy.
Obamacare and continually throwing massive amounts of money at colleges also has caused inflation to spike.
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Extending Trump’s 2017 tax bill would not increase deficits at all.
Lowering the corporate rate will increase growth and revenue to the government.
Allowing people to keep more of their money will increase growth and revenue to the government.
Fewer regulations will lower inflation.
Reducing the size of government will reduce the deficit.
Closing the border will lower inflationary pressures.
Opening up energy will increase growth and lower inflation.
Many of the tariffs will be absorbed by China and other countries because they have to keep their economy growing.
