Trump:
reducing taxes: correct
supporting social security: incorrect
deregulation, drop 2 regulations for every new regulation: correct
bailing out farmers and giving handouts: incorrect
i didn't study trump fully
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Feel free to reply to any comment by clicking the "Reply" button.Over his term, Trump reduced federal taxes and increased federal spending, both of which significantly increased federal budget deficits and the National Debt.
Trump reducing taxes: technically it might have been correct, but in reality he increased them for everyone who uses dollars, even non Americans, simply by telling Jerome Powell at the FED to keep interests rates low so it was easy to borrow "cheap money". In other words. Inflation. Too bad most people are financially illiterate so when he bragged about how stock market is up, people didn't realize what that means.
Economy was not better under Trump, its just that bubble was bigger if overinflated assets. Under Trump, almost double as many dollars were created as it was during Obama years. But this is not uniqe to Trump, its been like this for a while, and just as Trump "printed" twice as much as Obama, Biden will do twice as much as Trump if not more.
Inflation is in effect taxation without legislation. When direct collection of taxes is too unpopular for politicians who keep on spending more and more, they can either borrow or inflate the currency. The US government does both, actually. And that is silent tax that taxes everyone who owns dollars, even non Americans, and since US dollar is reserve currency of the world. It means everyone is taxed in the name of America.
Key Trump Quotes on Powell as Fed Remains in the Firing Line
Krunoslav
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Apr 20, 2023
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