Recently, the government announced that last quarter, the U.S. economy grew at 4.2 percent. That’s more than 2 ½ times the average growth rate during the past ten years. Predictably, critics of the President and his tax policies claim tax cuts had nothing to do with it. For them It’s just a coincidence that after a decade of stagnation the economy just happened to perk up right after the tax cut.
Business profits have also spiked since the tax cuts. And take-home pay is up more than 5 percent in the last year. More coincidences?
Or: Perhaps the tax cuts are actually working as intended, removing the punishing rates of taxation on profits, increasing output, creating more jobs and higher pay rates for those jobs.
It worked under Kennedy, Reagan and G.W. Bush.
Now it’s working for Trump and for America.Read More »