Quote:
Originally Posted by Alan Roehrich
In addition, you're completely wrong, on ALL counts, and the most recent economic history proves that. Not only did the Trump tax cuts produce RECORD federal tax revenue, far above that of the previous higher tax rates, it also created economic growth that created the lowest recorded unemployment levels of recent recorded history, including record lows in minority unemployment. Not to mention, under Trump, the wage and wealth growth rate for the middle class exceeded that of the higher class for the first time in decades.
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I'll go with facts and figures.
Fact: Trump has become the first president since Herbert Hoover during the Great Depression to depart office with fewer jobs in the country than when he entered.
Fact: The gross domestic product went up in Trump’s first two years, peaking at an estimated 2.9% in 2018 — the highest since 2005. But the economy grew only 2.3% in 2019 and the bottom fell out in 2020.
The real GDP declined 3.4% in 2020 from the previous year. It was the largest drop since 1947, when the nation’s economy declined 11.6% after years of economic expansion fueled by World War II.
Fact: As a candidate and president, Trump promised the nation’s economy would grow on an annual basis by 4% to 6%. But it never topped 3%.