And not to mention he did not even grow the economy well. GDP growth under him annually did not grow 3% in any year. That’s the first President ever to make such a feat.
**”It's the democrat's fault that the child in chief is throwing a tantrum over his useless wall.”**
Yes because the democrats don’t care about the safety and the well being of the country
@BaneOfThots You May be right trump will add a lot to the debt if he doesn’t cut spending now. He’s cut taxes and he’s growing the economy but he needs to cut spending
Border walls have proven to be massively successful in reducing illegal immigration. Israel, Hungary, Macedonia, Bulgaria, Austria, Greece, Spain, and Norway
@BaneOfThots Well I read the article about the Trump debt and I was shocked in the first paragraph, so let’s begin .
**”to 3.5 percent to 4 percent. These projections are above the 2-3 percent healthy growth rate. When growth is more than that, it creates inflation. Too much money chases too few good business projects. Irrational exuberance grips investors. They create a boom-bust cycle that ends in a recession. Trump’s Fiscal Year 2019 budget lowered annual growth rates down to between 2.4 percent and 2.9 percent annually.”**
What a load of horseshit. Growing an economy fast DOES NOT cause inflation. This was seen in Reagan’s economic growths of 7% where inflation was very low compared to the double digits it was in when he entered office( with low growth). What causes inflation is the regulations and taxation’s that pull up costs and then prices. What else causes inflation is the expansion of the money supply.
What it wrote about the boom and bust cycle was garbage. Boom and bust cycles are artificially created by the federal reserve which is central bank that manipulates interest rates by artificially lowering them to “boost growth”.Credit and monetary expansion leads to malinvestments in a boom which is inflationary and a bubble. After a while these investments seem unprofitable and are dropped and a bust occurs. The bust is necessary as the all the malinvestments that took place need to be liquidated.
**”Jobs Act. It cuts the corporate tax rate from 35 percent to 21 percent beginning in 2018. The top individual income tax rate drops to 37 percent. It doubles the standard deduction, and eliminates personal exemptions. The corporate cuts are permanent, while the individual changes expire at the end of 2025. But it won't stimulate the economy enough to make up for lost tax revenue.”**
That’s odd because Trump is reaching 3% annual growth this year and tax revenues have went up since the tax cuts.
**”According to the Laffer curve, tax cuts only do that when the rates were above 50 percent. It worked during the Reagan administration because the highest tax rate was 90 percent.”**
That’s wrong, the Laffer curve doesn’t have a defined point.
Marginal tax rates for the highest under Reagan were 70% before he cut them. Secondly inflation adjusted tax rates were around 20%. America had NEVER had a tax rate as high as 90%. Inflation adjusted the highest is 70% and the effective tax rate as the highest is 45%. Which is the highest it’s ever been for the top tax rate.
