Trump’s 2017 Tax Cut Isn’t Helping Economic Growth

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Mr. Trump made a lot of promises on the campaign trail. When Trump wasn’t telling his audience Hillary Clinton should be in jail, he was feeding them large doses of Trumponomics.

In that economic world, Americans could expect a $5.6 billion wall along the Southern border. And they could expect a tax cut that would put money in their pockets and stimulate the economy. He said he would eliminate Obamacare and come up with a better plan. And he would make America’s allies pay their share of the NATO agreement. Plus, he let people know he would take care of several other issues like rebuilding infrastructure and lowering drug prices.

But after two years of free-range spending and foreign policy snafus, as well as constant White House chaos, most of Trump’s 2016 promises are still in political limbo. Now that the Democrats control Congress, Trump is up to his neck in investigations, allegations, rumors, and never-ending tweetstorms.

Trump was able to pass a tax cut before the Democrats took over. He said average Americans would come out ahead thanks to his plan to cut corporate taxes, eliminate several key deductions, and increase the national debt to an all-time high. But his other campaign promises are in a jungle of confusion, incompetence, and an unfounded emergency call on the border.

According to the White House, the $1.5 trillion tax cut did spike the economy at first, but like all of Trump’s promises, the tax cut was just a front. The rich and corporations saved money, but according to the Washington Post, average Americans didn’t benefit much from the tax cut. But it did save Trump millions in taxes even though some reports say Trump doesn’t pay much in income taxes anyway.

Economic forecasters say the economic growth in 2019 will only be two percent. In 2018, the country had 3.6 percent economic growth. The government shutdown hurt the economy, and Trump’s tariffs and the trade war with China continue to slow the economy down. And when all the climate change storm damage is in the history books they will have a negative impact on the economic growth as well.

The slowdown in economic growth across the globe is a product of Trump’s policies, according to European economists. The president policies along with other issues the European Union faces like Brexit could create global economic chaos, and a global recession in 2019. But Trump still says his agenda will be the solution that turns the economy around if he’s elected for another term.

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