| | | Trump's highly successful corporate tax cuts
1. They weren't actually Trump's cuts, they were written by Republicans in the Senate. Trump just happened to be the Norquistian president at the time:
"Pick a Republican with enough working digits to handle a pen to become president of the United States. This is a change for Republicans: the House and Senate doing the work with the president signing bills."
2. That cut wasn't "successful" if by success you mean, as Trump declared more than once, that the US economy would grow beyond the 2-3% that it grew under Obama (it is barely growing by 2%). Nor was it successful if you mean, as Trump also declared more than once, that it would also cut the deficit and even eliminate it by the end of an eight year term (it has doubled instead of halving). Nor was it successful if you mean, as Trump and other proponents claimed, that it would lead to a $4,000 raise for American workers. Nor was it successful if you mean, as Trump and others claimed, that it would lead to a boom in business investment and a resurgence in manufacturing jobs.
americanprogress.org
Aside from those things, it was successful. Combined with ever lower interest rates--cut in order to stimulate a sagging economy--it was led to unprecedented liquidity which has boosted the stock market and the real estate market, at least in certain stocks and certain RE markets. Hmm, sounds like 2006-7 to me. Wonder if we'll get a replay of 2008-9.... |
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