Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Dems promised (hoped) Trump would crash everything.
Just another broken promise.
The Trumplings have been reduced from saying, 2 or 3 years ago, "Trump will usher in 4% yearly GDP growth and 300K job additions every month," to, most recently, "He didn't crash the economy."
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.
Again, not adjusted for inflation. American GDP grew in the 1980s. But most of that was simply price increases.
That's a rise of about 35%. Which is not 107%, but neither was it a lack of growth eaten up by inflation.
There is a huge difference between 35% and 107%. Most of that 107% "growth" was simply inflation. And both right before and right after that period, recessions occurred.
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.
That is about as narrow a view of economics that you can have. The percentage of tax cuts were big, nothing like anything than could be done today so there would be an impact. But your discounting so many innovations and growth in tech that spawned the "Tech" sector that we see today. This growth came at an expense as well, outsourcing was in full swing and those incentives to move jobs overseas were rolling in with those tax cuts. BTW Regan raised taxes as well so your hypothesis is way off as you would have seen a reverse of GDP if taken in a silo as you stated
Modern tax cuts now have the same impact as Trumps tax cut because your only moving a few percentage points and benefits are offset by the increase in debt taken on as we no longer pay for those tax cuts. Small short lived bump with little impact past the initial year of implementation.
Do you not understand that most of that expansion occurred under Obama?
This thread should be entitled something more like "the Obama-Trump economic miracle."
I KNOW I have explained this to you before. You choose to disregard it. It is much harder to go from 5% to 4% unemployment than it is to go from 10% to 7%. The biggest gains in a stock market are experienced after a deep dive. In other words, a monkey could have gotten done what Obama did. When it's really hard is when most of the gains have already come before.
Obama's big contribution to the recovery? Cash for clunkers?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
