Thursday, March 18, 2021

Trump economy

The first three years of the Trump presidency were highlighted by economic success. Household income rose $5,000 to $68,700 and the biggest percentage increase went to low and middle income groups. They also received a $2,000 tax cut. Utility cost and gasoline remained low because of fracking. The poverty rate fell to 10.5% the lowest since records were kept. Unemployment for minorities and women were the lowest in history. Home ownership increased as home prices reached record levels. The stock market rose to record levels. While these numbers are impressive the real gains were in the intangibles. When a person has a job they gain independence and the dignity that goes with taking care of their family. They have the respect of their friends and neighbors. They are positive role models for their children. All of this progress came tumbling down when the pandemic hit. As the virus is defeated will the country go back to the Trump policies of job creation. It is not likely since the past shows that democrats are less interested in jobs and more interested in providing government assistance. Not only will millions be getting checks there is talk of plans for guaranteed income. At least 11 direct-cash experiments will be in effect this year, from Pittsburgh to Compton. Another 20 mayors have said they may launch such pilots in the future, with several cities taking initial legislative steps to implement them.

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