Trump is Right?
23 Jan '18 02:15No not his political leaning, but is it possible that after his many bungled and failed business attempts over a lifetime of wheeler dealing, where major projects have gone belly up and people not paid, Trump has finally landed himself in the perfect position, to claim credit for an economic recovery that in the eyes of his fans ( Fox News) will make him look like a genius.
The IMF has just come out to adjust up its forecast of global growth in 2018 from 3.6 to 3.9%. The reason for the projected uptick is lowered US corporate tax rates.
Notwithstanding Obama's steady hands in allowing the Fed and a Wall St stacked Treasury avoiding what should have been a total financial collapse bigger than the great depression and landing the world's biggest economy as softly as possible, allowing whichever administration had followed an economy ready to run again, if the IMF's forecast is good, will Trump reap the benefit of simply being in power at the right time of the business cycle?
No doubt if this pans out the right way, he will boast that it was all because of him, Trump, whose single minded focus helped ram through the Tax Cuts and Jobs Act of 2017, that this economic turnaround is possible, and no doubt, his cheer squad will champion his brilliance from dusk to dawn.
But if the IMF is correct and the economy starts to boom, will it close the window on that more progressive mindset that would rather see higher taxes pay for better social outcomes like universal healthcare, and better outcomes through a better funded education system. Is it likely that in this phase of the post GFC recovery, the lower taxing mantra will actually work and create more jobs in the short term, enough for the champions of voodoo to say, you've doubted us for too long, here's your proof it works, putting the cause of an equitable social democracy back for another 20 years?
The IMF has just come out to adjust up its forecast of global growth in 2018 from 3.6 to 3.9%. The reason for the projected uptick is lowered US corporate tax rates.
Notwithstanding Obama's steady hands in allowing the Fed and a Wall St stacked Treasury avoiding what should have been a total financial collapse bigger than the great depression and landing the world's biggest economy as softly as possible, allowing whichever administration had followed an economy ready to run again, if the IMF's forecast is good, will Trump reap the benefit of simply being in power at the right time of the business cycle?
No doubt if this pans out the right way, he will boast that it was all because of him, Trump, whose single minded focus helped ram through the Tax Cuts and Jobs Act of 2017, that this economic turnaround is possible, and no doubt, his cheer squad will champion his brilliance from dusk to dawn.
But if the IMF is correct and the economy starts to boom, will it close the window on that more progressive mindset that would rather see higher taxes pay for better social outcomes like universal healthcare, and better outcomes through a better funded education system. Is it likely that in this phase of the post GFC recovery, the lower taxing mantra will actually work and create more jobs in the short term, enough for the champions of voodoo to say, you've doubted us for too long, here's your proof it works, putting the cause of an equitable social democracy back for another 20 years?
Back to Top