Friday, January 24, 2020

Trump can be beat in November on the economy

If you think Donald Trump can just breeze on back to the White House in November, think again. Here's a recent headline: "Trump boasts the US economy is the best it's ever been under his watch." This article continues with several charts proving this isn't true. But Columbia University economist Joseph Eugene Stiglitz, also a recipient of the Nobel Memorial Prize in Economic Sciences, comments in Common Dreams...
"It is becoming conventional wisdom that US President Donald Trump will be tough to beat in November, because, whatever reservations about him voters may have, he has been good for the American economy. Nothing could be further from the truth."
Although corporate America raves about Trump's tax cuts that primarily benefited the rich and the current high stock prices, this no barometer of  "ordinary citizens’ living standards or anything about sustainability." Stiglitz continues...
"In fact, US economic performance over the past four years is Exhibit A in the indictment against relying on these indicators. The lion’s share of the increase in GDP is also going to those at the top."
The economist adds...
"Trump may be a good president for the top 1%—and especially for the top 0.1%—but he has not been good for everyone else. If fully implemented, the 2017 tax cut will result in tax increases for most households in the second, third, and fourth income quintiles."
It is all beginning to unravel as it becomes obvious that everything the White House does, and the Republicans behind Donald Trump, is to heap the rewards on wealthy Americans and corporate America. Read this article through to the end and you will learn how us average Americans have lost out to the upper elite.

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