What a difference between a few years under different political administrations. Under Barack Hussein Obama, his policies set a record of over 40 consecutive months of unemployment at 8.0% or higher. Millions of Americans were out of work. they were losing their homes to foreclosure and filing bankruptcy. The number of Americans living at or below the poverty level was at an all time high. Obama waged a war against the coal and oil industries that resulted in thousands of Americans losing their jobs. He wasted billions of taxpayer dollars on multiple green energy projects, but instead of creating the 5 million jobs Obama promised, it resulted in one failure after another with the loss of more jobs and higher energy costs for many of us.
A few years later, businessman Donald Trump took over the White House and his business policies have been reaping huge rewards for millions of Americans. Trump was responsible for the tax cuts that created millions of jobs and allowed workers to take home more of their hard-earned money than they have in many years. Corporations received tax cuts that many turned around used to give existing employees raises and bonus, expand their businesses and hire more people. With millions more Americans working, that results in more money being spent which in turn results in more demands for products and services which results in more tax money collected and a growing healthy economy. The results of Trump’s two and half years of economic policies have resulted in the lowest unemployment rate in 50 years, as reported:
Joblessness across the US hit a 50-year low last month, easing fears about a possible recession amid President Trump’s trade war with China.
Employment growth, however, wasn’t quite as robust as some economists had expected, showing particular weakness in manufacturing and services.
The US added 136,000 jobs in September — about 5,000 fewer than expected — as the jobless rate dropped to 3.5 percent in September from 3.7 percent in August. That’s the lowest since December 1969, the Labor Department said Friday.
“The unemployment rate usually rises ahead of a recession, so a fresh decline pushes out the timeline for any potential recession into late 2020 at the earliest,” said Josh Wright, chief economist at iCIMS in New York.
As voters head to the polls for the primary, caucus and the general elections this year, they will be voting on whether to keep the current economic gains or to destroy everything Trump has been doing.
Democrats have vowed, if they win control of Congress and the White House, that they would first repeal Trump’s tax cuts, especially those that went to corporations.
To anyone with a brain, they should be able to see that this will kill jobs, the economy and throw America back into a recession and probably one far worse than the one we recently recovered from.
If corporations have to pay more taxes, that means they have only 2 ways of getting that tax money – increase prices for all of the products and services and/or reduce payroll. Payroll is reduced by either cutting benefits, cutting hours and/or cutting the number of employees. The bottom line is, many people will either be out of work or have their hours cut to the point where they can no longer pay their bills and feed their families. Many people will have less money to spend, which manufacturing and services will be cut, which further impacts workers. It’s a slippery slope that could ultimately result in runaway inflation and economic recession and even the possibility of an economic depression like the one America experienced nearly 100 years ago.
This is what Democrats are pushing for. An economic collapse would allow them to institute their socialist policies and government and change the face of America for the worse. Please remember this when you go to vote in 2020.