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Miracle? ....... It's just common sense. Tell people who have been ripping you off that they can't do that anymore; tell people who have been walking into the country without permission that they can't do that anymore; tell the army that it's OK to shoot bad guys.; tax people less and they will become more enthusiastic about their work.
Except we've cut taxes again and again (mostly for the donor class) and the result is slower and slower economic growth each decade.
The period with the lowest inequality in the last 100 years was the 1960s...
The 1960s also was the decade with the highest economic growth in the last 100 years.
I just had a look at the growth rate of the economy in the 1960s and from 2009 to 2017.
1960-69: The economy grew a total of 51.5%
2008-2017: The economy grew 15.5%
And worst of all, the economy of the 1960s was evenly distributed among the income brackets. The paltry growth seen these days mostly go into the hands of the top 1%.
Anyone ever suggest you provide evidence?
Or does repeating it over and over seem sufficient....?
Reagan years, 1980 to 1989, the world GDP grew from 11.1 to 20.9T. +88%.
America grew from 2.87T to 5.96T 107%. So it looks to me like tax cuts worked and allowed America to lead the world.
Those world GDP numbers are not adjusted for inflation though unlike the inflation adjusted American numbers.
But what matters is not growing faster than third world countries that start from a very low base. But how hollow the term "economic miracle" has become when tepid growth rates in the 2000s and 2010s combined with high inequality is considered a "miracle".
Bush bailed out the auto industry and banks (TARP) , tax cuts, etc, Obama just followed the programs Bush put in place before he left. The recession ended in July 2009, it was just an incredibly slow recovery.
The OP cites a Twitter post which says the current period of economic expansion started in 2009. Now in my version of English: expansion=growth. WHAT is your definition of expansion?
HINT: Since it started in 2009, Trump can hardly be given all the credit as he didn't start as POTUS 'til 2017.
Or perhaps you need to learn Trump is not the miracle worker his self-aggrandizing BS would have us believe he is.
Sorry, but it was in recovery during the majority of O's terms.
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