Trump's broken economic promises

Sorry the reason for the housing collapse is well documented in the paper I linked. And good you admit the only balanced budget was under a Democratic President.

Well you are right the Dems will probably be sucessful in stopping Trump from cutting programs that help the poor although he does seem to be working on Foid Stamps. So we are left with massive Trump tax cuts 87% of which benefitted the wealthy, blew up the deficit, and did nothing for the economy.

And now Trump is babbling about more tax cuts.

 

What did you actually post? Do you know. Guess you are now pretending that the slow recovery from the Bush recession was somehow Obama's and the Democrats fault.

 

I know now you are pretending the slow recovery was the Democrats fault. Isn't a bit disingenuous of you to give the Republican Congress credit for the Clinton balanced budget and yet blame Obama for the slow revovery from the Bush recession when the Republicans controlled congress for the last six years of Obama's Presidency.

Seem like you give Congress the responsibility when it suits your narrative and then switch and blame the President when it doesn't.

And I assume you still haven't bothered to do the reading to understand what caused the housing collapse. Hint: it wasn't Fanny and Freddy.

 

The ball was in their court, they passed their stimulus and by Obama's own measures and admittance was a failure. And it was Gingrich and Kasich who created those budgets and forced him to sign them and their welfare reform, it is disingenuous to claim Clinton balanced the budgets. He tax rate increase had things going in wrong direction. He was saved by a Republican Congress and Republican policies. And BTW again residential house is only 3%-5% of GDP, as opposed to the tech sector about 25%, again compare the Republican responses to the 2001 slowdown recession to the Democrats to the 2008 where they had a year before it began. Who had the best results and why would you want Democrats in charge again if was are poised for a slowdown/recession?

 

The Angelides FCIC report is a joke. Angelides is a Democratic Party operative whose mission was to whitewash the housing bubble and financial crisis to blame the private sector and lack of regulation of the banking industry.

Clinton triangulated. He was a fiscal conservative working with a fiscally conservative R legislature to implement supply side policies including reducing government spending. His welfare reforms resulted in tens of thousands of people going back to work and consequently reduced government spending. Democrats claimed women and children would be starving in the streets. Did that happen ?? Trump is basically moving back to the Clinton welfare reforms which Obama gutted.

Ask the middle class and minority workers if the Trump tax cuts did not help them ?? The answer is - 'yes they did".

More tax cuts will result in more economic growth and if a fair China trade deal can be made the economy will take off even more strongly. The Quantitative tightening will still be a drag on the economy.

What are the Democrats proposing to boost the economy and jobs ??

 

The cap gains tax rate reduction skyrocketing revenues did count for ~ 20% of the total Clinton surplus over those 4 years. But again that is a Gingrich supply side policy that Clinton supported.

 

Dragged and screaming, he had raised cap gains rates remember.

 

Clinton came into office and passed a huge liberal tax rate increase, he refused to do anything about welfare reform. Welfare reform was a Gingrich/Kasich thing when he was forced to sign onto. Why do you think he lost the Congress?

Absolutely

I keep asking and get no responses.

 

He complained all the time but took full credit.

 

Sure but he signed off on everything.

 

Yeah Dick Morris his political adviser told him his policies were failing either get on board with the Republicans else you won't be reelected, he went along for the ride.

 

And the MSM was glad to go along with the sham and still does.

 

I
The housing, Mortgage default crisis, was partially caused by the Federal Government lowering "qualifying" standards and down payments; " to allow more low income families to purchase homes starting with Clinton.

First Frannie and Freddie and then Private lenders that needed to compete with F&F. We're as in the 60s and early 70s you needed to put 20% down and qualifying income was much stiffer; after that it wasn't unusual to put Zero down, or 5%. With lower qualifying incomes. All to apeas the Federal Government.

The claim that buyers were not explained loan agreements may have been true in a very small number of home sales.

What happened IMO and as a former Real estate Agent is that people lost their jobs and didn't have enough savings to pay their Mortgage until their house sold AND home values declined and people owed more than their house was worth. Some tried to sell and couldn't sell for the amount they owed and many simply walked away.

The taxpayers, by the way, bailed Frankie and Freddie out more than once since they began lending. Why?

 

There's no way in hell, it's not even possible what you claim, that "leftists are hoping for a collapse of the economy just to vote out Trump" can in any way be possible. That's absolutely laughable it so ridiculous. Do you really believe that a political party can take down a global economy out of spite for a rogue president? You are very sadly misinformed and uneducated if you believe that. You should read more about what affects the economy, what makes it strong, what makes it weak and why it's very weak right now. It's not only the US that's in trouble, it's nearly ever civilized country in the entire world. And no --- the "lefties" had nothing to do with that either.

 

You talk about Benefiting the wealthy. The cuts were across all tax brackets.

Over 50% of taxpayers actually owed no tax prior to the cuts so obviously further cuts wouldn't Help them. The cuts benefited those individuals and families and small business that have actually owed Ordinary Income tax.

Not just the Wealthy.

And these tax cuts have helped the Economy because small business and the middle class are paying less ordinary income tax.

And the low income earners that don't "owe income tax" still get a refund due to tax credits and the like. Something those of us in the Middle have seen few times.

 

And since they had no money (down payment) in the house it was easy to walk away.

 

Another economic tragedy in the Clinton Presidency is the missed opportunities to privatize social security and Medicare. Clinton had set up commissions to come up with the best way of doing this but when the blue dress was soiled his far left supporters insisted that he pull the plug on those commissions in exchange for their support on fighting impeachment.

 

And the Republican Congress was onboard.

 

Very simple 87% of the benefits went to the top 10%. That leaves 13% for the other 90% of Americans. And Trump's GDP so far is the equal of that for Obama's eight years so it is hard to find any evidence that the individual tax cut had any impact other than ballooning the deficit.

Remember when Trump claimed the tax cuts would pay for themselves.

 

Oh look, another piece of pure fiction from a Progressive/Communist.

Do you work for the New York Times OP?

 

And those 10% pay "all" of the federal income taxes and invest in the future of the US. 50% pay no federal income tax. Also you are using the tax structure from the year 2025 in which the middle class tax rate reduction disappears due to the way the legislation was written per reconciliation rules. The high income rates stay and it will be up to the Democrats to pass the resumption of tax breaks for the middle class.

Obamanomics is the same as the supply side economics of Trump with the drag chute of quantitative tightening and the China trade showdown over the $400B that the Chinese steal each year from the US. Is that what you are claiming ?? Nothing on food stamps ??

 

When did Trump claim that the tax reforms would pay for themselves ?? Without 60 Senate votes there will be no spending reductions. But the Trump economy has resulted in getting ~ 7 million off of food stamps.

 

Recovery Has Created Far More Low-Wage Jobs Than Better-Paid ...
www.nytimes.com/2014/04/28/business/economy/...
Apr 27, 2014 · Economy Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones
How good were the 10.9 million jobs under Obama?
Money.CNN.com/2016/11/04/news/economy/jobs-under-obama/...
Nov 03, 2016 · CNNMoney breaks down what kinds of jobs have been created and ... Almost all of the job gains under President Obama have been in so-called service jobs,

The deep recession wiped out primarily high-wage and middle-wage jobs. Yet the strongest employment growth during the sluggish recovery has been in low-wage work, at places like strip malls and fast-food restaurants.

In essence, the poor economy has replaced good jobs with bad ones. That is the conclusion of a new report from the National Employment Law Project, a research and advocacy group, analyzing employment trends four years into the recovery.

“Fast food is driving the bulk of the job growth at the low end — the job gains there are absolutely phenomenal,” said Michael Evangelist, the report’s author. “If this is the reality — if these jobs are here to stay and are going to be making up a considerable part of the economy — the question is, how do we make them better?”

The report shows that total employment has finally surpassed its pre-recession level. “The good news is we’re back to zero,” Mr. Evangelist said.

But job losses and gains have been skewed. Higher-wage industries — like accounting and legal work — shed 3.6 million positions during the recession and have added only 2.6 million positions during the recovery. But lower-wage industries lost two million jobs, then added 3.8 million.
HTTPS://www.nytimes.com/…/recovery-has-created-far-more-low…

 

Sorry but decreasing spending would not mean the tax cut paid for itself.

And you may be right it was Mnuchin, Trump’s appointee who repeatedly made that lie along several others.

 

And you may be right it was Mnuchin, Trump’s appointee who repeatedly made that lie along several others.[/QUOTE]

And what is your source for your claim that the Trump economy got 7 million Off food stamps. Probably Trump.himself.