Donald Trump has unveiled his economic plan.
It will create jobs, raise wages, and help families.
But the liberal media is lying.
If you listen to what the news media has to say about Donald Trump’s economic plan, it’s quite disturbing.
According to the biased media, his program is recycled trickle-down economics that will help the Top 1% and no one else.
That’s a lie, and it’s false.
Having taught and written on economics, and as a business owner, and active in the community, I can say that the biggest tragedy has been the failed economic policies that started with George W. Bush’s excessive government regulations and spending, which dramatically accelerated under President Obama. It has produced a historically low economic recovery of 1.2% per year.
It’s like a car driving at 25 mph in a 75 mph zone.
The current rates of unemployment are outrageous. A record 94,333,000 Americans are not working. In a sense, the recession has never ended.
Today, the government has amassed a total $19.3 trillion of debt over the last 8 years.
Trump’s economic policies are dramatically new and different, and they will supercharge the economy.
Jobs will be created. People’s salaries will soar. Small entrepreneurs will succeed. Struggling business will experience dramatic growth. Companies will stop moving overseas. Families will find that they have more money to spend. Future generations won’t be encumbered by immense debt.
What we have today are excessive taxes which are killing entrepreneurs and businesses. This costs jobs and lost wages. In fact, the U.S. has the highest corporate tax rate in the world, filled with special interests’ loopholes, usually for big business.
For a little perspective on the rich paying “their fair share”:
Today, the top 1% of the population pays 38% of all taxes. The top 20% pay 80% of taxes. 50% pay no income tax at al.
Trump plans to reduce the capital gains tax from 30% to as low as 15%, a radical, incredible, and welcome reform.
President Obama’s executive orders and strangling, job-killing regulations have led to trillions of dollars lost, low job growth, and lost productivity in the economy. Trump will put a moratorium on the regulations, and he will repeal the ones that are unnecessary.
These are dramatic, structural reforms to create new jobs and increase wages.
The attacks so far on his economic plan have been old, Keynesian, socialist economic ideas that President Obama has tried to use to transform the economy for the last eight years and they failed.
But Trump is offering something new and refreshing.
Here are six parts of Donald Trump’s economic plan that will restore and expand our economy:
- An across-the- board income tax reduction, especially for middle-income Americans, including the elimination of the Carried Interest Deduction, the death tax, and special interest loopholes.
- Cracking down on China’s illegal export subsidies, currency manipulation, and rampant theft of intellectual property, along with the country’s lack of real environmental or labor protections.
- End Barack Obama’s War on Coal and carbon energy.
- Repeal all of Obama’s 248 illegal executive orders.
- Repeal and replace Obamacare with real health care reforms to cut costs.
- Provide a tax credit for child care costs
I encourage you to look at these two videos to learn more about Donald Trump’s welcome economic plans.
The first is Charles Payne with a panel discussing Trump’s plan. (about 6 minutes)
What about small businesses? Here is a video on how Trump’s new policies will help small businesses create jobs and raise incomes (5 minutes).