XCR1250 Posted April 2, 2023 Share Posted April 2, 2023 The Return Of Trumponomics Could Reverse The US’s Economy’s Spiral Of Decline Matthew Lynn Sat, April 1, 2023 at 12:00 AM CDT FILE PHOTO: U.S. President Donald Trump delivers an update on the so-called Operation Warp Speed program in an address from the Rose Garden at the White House in Washington, U.S., November 13, 2020. REUTERS/Carlos Barria/File Photo - Carlos Barria/REUTERS More Will he be allowed to run while facing a potential trial? Can a former President be convicted? Could he somehow negotiate a plea bargain that gets him off the hook and, if not, will the former adult film star Stormy Daniels appear in the dock? Many lawyers unconnected with the case will have an entertaining few weeks arguing over those issues following the indictment of the former President Donald Trump. Political analysts, meanwhile, will spend hours debating whether it will stir up his base enough to deliver the Republican nomination, or whether it will so alienate the moderates within the party that it will open the way for one of his rivals to seize the crown instead. America has now entered into unchartered waters. Trump stands accused of paying hush money to Daniels to cover up details of their relationship, which reportedly may have involved falsifying records and, more seriously, could have involved breaches of election law. Predictably, Trump's most ardent supporters have expressed outrage on social media, accusing the "establishment" of stitching up their champion. Moderate Republicans are concerned that, by distancing themselves from the former leader, they might alienate the swing voters who may determine the outcome of the next general election. Either way, we should distinguish between Trump, the man, and Trump's policies. His actions will be judged by a New York grand jury; his policies by economists and the American public. FILE - President Joe Biden speaks during a Summit for Democracy virtual plenary in the South Court Auditorium on the White House campus, Wednesday, March 29, 2023, in Washington. Biden on Friday will visit a Mississippi town ravaged by a deadly tornado even as a new series of severe storms threatens to rip across the Midwest and South. (AP Photo/Patrick Semansky, File) - AP Photo/Patrick Semansky More For all his personal baggage, Trump was, at least as far as the economy was concerned, a more successful President than his successor has been. Growth accelerated, the stock market boomed, unemployment fell, and it was the first administration in at least two decades to cut back on taxes and regulations. The US doesn’t need Trump. He is a divisive figure with a history which is about to become even more chequered. But it does need a fresh blast of Trumponomics in 2024 to break out of a spiral of decline. The US remains the world's largest national economy, and the world's top destination for foreign direct investment. A growth surge in America could provide a boost to global activity. Over the first three years of his administration before the coronavirus pandemic gripped the globe, growth averaged 2.5 per cent – higher than the 2.3 per cent seen under Obama. The stock market soared to new highs, led by a clutch of tech giants that doubled or tripled in size. Until the pandemic, unemployment was driven down to just 3.5 per cent, the lowest rate in the US in more than half a century. Even better, the real growth in jobs, and wages, came for blue-collar workers, who saw their first sustained increase in living standards for a couple of generations. Real wages grew at an impressive 2.3 per cent per year while Trump was in the White House. By the end of his term, 4.2 million fewer people were living in poverty in the US, the biggest sustained decrease since Lyndon B Johnson was President in the 1960s. Oh, and inflation? No one ever mentions it, because no one was worrying about price rises – they were too low to bother about. There is no great mystery about how that was achieved. Trump pushed the most sustained tax reform in decades though a reluctant Congress. A 35 per cent rate of corporation tax that had become wildly out of line with every other major economy in the world (even France cut its rate ahead of the US) was slashed all the way down to 21 per cent in a single stroke, transforming the competitiveness of American industry. Long overdue reforms of personal taxes simplified a system that had become weighted down in its own complexity. Just as importantly, he took a hatchet to red tape and regulations that had turned what used to be the most enviably can-do, enterprising society in the world into an awkward place to start a business. By contrast, under Obama the rate of business formation fell below the UK per capita. Two regulations had to be repealed for every one that was introduced. It is difficult to judge the full extent to which Trump was able to roll back regulatory overreach, but it is certainly the case that his administration added far fewer new rules than its predecessors. According to the American Action Forum, Trump imposed annual net regulatory costs of $10 billion, compared to $111 billion for the Obama administration and $43 billion for the George W Bush administration. And enterprise zones, sometimes no bigger than a city block, used tax and regulatory breaks to boost deprived areas. It was hardly complex, but Trump managed to drive it though effectively, a feat that eluded his predecessors. The contrast with Biden is stark. In almost three years since he entered the White House, inflation has soared out of control, forcing the Federal Reserve to hike interest rates to the highest level in almost two decades. Real wages have fallen by 4 per cent since he took office, hitting workers across the board. Banks have collapsed, and the stock market has tanked. It is true that the US economy was knocked sideways by the pandemic. But that does not excuse Biden's subsidies for green industries through his Inflation Reduction Act. The President is doubling down on the protectionism which Trump flirted with, onshoring production to the dismay of our Business Secretary Kemi Badenoch. And Biden has been forced to scramble around desperately for any taxes he can raise to pay for it all, especially now that inflation makes it impossible for him to print money with the same enthusiasm as during the first year of his term. If Trump has one of the best economic records of the last fifty years, Biden has one of the worst. And with the US on the brink of a potentially major recession, and a full-scale banking collapse, it is still possible it may deteriorate before 2024. Sure, Trump wasn't Reagan 2.0. He had none of the grace, wit, and charm that made his 1980s predecessor such a powerful and successful ambassador for free market, pro-entreprise liberalism. But he was far better than the tax raising, wild spending Biden. Trumponomics can still triumph in 2024 – and that is precisely what the US economy needs right now. 1 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 2, 2023 Share Posted April 2, 2023 Trump inherited Obama's economy Biden inherited Trumps mess https://www.politifact.com/factchecks/2020/feb/06/donald-trump/no-economy-didnt-suddenly-get-strong-under-donald-/ 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted April 2, 2023 Platinum Contributing Member Share Posted April 2, 2023 Nice shirt Don 1 Quote Link to comment Share on other sites More sharing options...
f7ben Posted April 2, 2023 Share Posted April 2, 2023 Yes , the worst peacetime spender in history will fix this inflation, what in the actual fuck 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 2, 2023 Share Posted April 2, 2023 7 minutes ago, f7ben said: Yes , the worst peacetime spender in history will fix this inflation, what in the actual fuck Quote Link to comment Share on other sites More sharing options...
f7ben Posted April 2, 2023 Share Posted April 2, 2023 Quote Link to comment Share on other sites More sharing options...
f7ben Posted April 2, 2023 Share Posted April 2, 2023 Quote Link to comment Share on other sites More sharing options...
Anler Posted April 2, 2023 Share Posted April 2, 2023 38 minutes ago, f7ben said: Yes , the worst peacetime spender in history will fix this inflation, what in the actual fuck You don't know anything about economics! Quote Link to comment Share on other sites More sharing options...
SSFB Posted April 2, 2023 Share Posted April 2, 2023 57 minutes ago, SnowRider said: Nice shirt Don Typical Boomer Trumper there. Believing shit that a kid who is still wet behind the ears knows better enough than to believe. 1 Quote Link to comment Share on other sites More sharing options...
f7ben Posted April 3, 2023 Share Posted April 3, 2023 13 hours ago, SSFB said: Typical Boomer Trumper there. Believing shit that a kid who is still wet behind the ears knows better enough than to believe. Can’t believe that old retard didn’t start prattling on about his EJ security clearance and asking that kid where he got his constitutional law degree eventually telling him that he just needed to BE MORE PRAGMATIC!!! 2 Quote Link to comment Share on other sites More sharing options...
racer254 Posted April 3, 2023 Share Posted April 3, 2023 The trump haters still won't accept the simple fact that trumps policies pre pandemic were just plain KICKING ASS vs any other recent POTUS. 2 2 Quote Link to comment Share on other sites More sharing options...
f7ben Posted April 3, 2023 Share Posted April 3, 2023 5 minutes ago, racer254 said: The trump haters still won't accept the simple fact that trumps policies pre pandemic were just plain KICKING ASS vs any other recent POTUS. So you support massive spending and 0% rates. Got it 1 Quote Link to comment Share on other sites More sharing options...
racer254 Posted April 3, 2023 Share Posted April 3, 2023 2 minutes ago, f7ben said: So you support massive spending and 0% rates. Got it Same as you. Quote Link to comment Share on other sites More sharing options...
f7ben Posted April 3, 2023 Share Posted April 3, 2023 4 minutes ago, racer254 said: Same as you. No , not the same as me you fucking retard. 1 Quote Link to comment Share on other sites More sharing options...
racer254 Posted April 3, 2023 Share Posted April 3, 2023 Everyone liked trumps tax cuts. Everyone liked the economy under trump. The only thing people didn't like was his ego and his mean tweets. Doing what is right for this country should be the only consideration when it comes to POTUS, and voting should not be motivated by your emotions. Not sure why that is so hard for some of you "men" on this site. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted April 3, 2023 Platinum Contributing Member Share Posted April 3, 2023 (edited) 14 minutes ago, racer254 said: Everyone liked trumps tax cuts. Everyone liked the economy under trump. The only thing people didn't like was his ego and his mean tweets. Doing what is right for this country should be the only consideration when it comes to POTUS, and voting should not be motivated by your emotions. Not sure why that is so hard for some of you "men" on this site. I distinctly remember Ben railing about Trumps economics as for the rest of your post it’s just more of your inane blather. Edited April 3, 2023 by Jimmy Snacks Quote Link to comment Share on other sites More sharing options...
racer254 Posted April 3, 2023 Share Posted April 3, 2023 10 minutes ago, Jimmy Snacks said: I distinctly remember Ben railing about Trumps economics as for the rest of your post it’s just more of your inane blather. What didn't you like about trump specifically? Quote Link to comment Share on other sites More sharing options...
Deephaven Posted April 3, 2023 Share Posted April 3, 2023 5 hours ago, racer254 said: What didn't you like about trump specifically? Funny that the guy who doesn't understand what he thinks he likes asks that question. We all know you like make believe. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted April 3, 2023 Share Posted April 3, 2023 I thought if I did not make more than 250k my taxes would not go up under pampers . So why did I claim less this yr and still owe a extra 8500k over what I gave last yr . I want my tax credits back Quote Link to comment Share on other sites More sharing options...
racer254 Posted April 3, 2023 Share Posted April 3, 2023 45 minutes ago, Deephaven said: Funny that the guy who doesn't understand what he thinks he likes asks that question. We all know you like make believe. Make believe? You mean like the inflation and high cost of energy under the last 2 democrats. Yeah, everyone like that. Or how about the high taxes under the last 2 democrats, yeah sounds great. And anyone can say spending sucked under trump, but the realization is the simple fact that the budget under the last 2 democrats are setting records, so you really can't dislike him anymore than the rest. So realistically he was way better for the middle and lower class. But those damn mean tweets and his personality many just can't seem to get past, even thought that really has dick to do with running a country. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted April 3, 2023 Platinum Contributing Member Share Posted April 3, 2023 21 minutes ago, racer254 said: Make believe? You mean like the inflation and high cost of energy under the last 2 democrats. Yeah, everyone like that. Or how about the high taxes under the last 2 democrats, yeah sounds great. And anyone can say spending sucked under trump, but the realization is the simple fact that the budget under the last 2 democrats are setting records, so you really can't dislike him anymore than the rest. So realistically he was way better for the middle and lower class. But those damn mean tweets and his personality many just can't seem to get past, even thought that really has dick to do with running a country. You’re lying or plain ignorant. The facts don’t support your bullshit. Quote Link to comment Share on other sites More sharing options...
racer254 Posted April 4, 2023 Share Posted April 4, 2023 Lets make this one go back TTT Quote Link to comment Share on other sites More sharing options...
racer254 Posted April 4, 2023 Share Posted April 4, 2023 Here are some facts for the local liberal dipshit. In early 2008, candidate Obama told the San Francisco Chronicle that "under my plan ... electricity rates would necessarily skyrocket." Obama was referring to his plan to cap greenhouse-gas emissions, which would, among other things, effectively choke off coal as an energy source. He was just as fond of high gasoline prices, telling CNBC in June 2008 — as gas prices shot up to $4 a gallon — that he "would have preferred a gradual adjustment." Quote Link to comment Share on other sites More sharing options...
Deephaven Posted April 4, 2023 Share Posted April 4, 2023 21 hours ago, racer254 said: Make believe? You mean like the inflation and high cost of energy under the last 2 democrats. Yeah, everyone like that. Or how about the high taxes under the last 2 democrats, yeah sounds great. And anyone can say spending sucked under trump, but the realization is the simple fact that the budget under the last 2 democrats are setting records, so you really can't dislike him anymore than the rest. So realistically he was way better for the middle and lower class. But those damn mean tweets and his personality many just can't seem to get past, even thought that really has dick to do with running a country. Make believe as you have no idea what is trump and what is republican nor the cause nor effect of why what happened. 1 Quote Link to comment Share on other sites More sharing options...
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