A/O Global Intelligence Weekly: Trump Tax Cuts Producing Solid Results (Most Recent Newsletter)
April 27, 2019, the U.S. Commerce Department reported that the U.S economy grew in the second quarter at a rate of 3.2%! This follows years of stagnant growth in the United States after the Great Recession and the anemic growth during the Obama administration -- Read entire newsletter here: http://americanopportunity.org/newsletter
Indeed, for many years during the Obama Administration, a policy of intentionally slow growth, stifiling regulation and heavy taxation policy had been followed. To pay for heavy government spending, high taxes were the rule of the day. 2% growth was typical. Wages grew at 2% at best. Any increase in real wages and economic growth were instantly eaten alive by inflation. All the while, the "coalition of the ascendant" flocked like carrion to urban centers where leftist ideas flourished, while "middle America" continued to be reminded that the values and work ethic that made America great simply weren't needed by the new progressive vision of the future.
Eventually, a national malaise more deeply felt than the Jimmy Carter era began to hold sway, especially in the Rust Belt of America and places that had simply been forgotten and left behind. Many commentators said that our children would never enjoy the improving quality of life that their parents had. Inequality rather than opportunity became the watchword; social theft became easier than individual work. It was said that slow growth and declining standard of living was the “new normal”.
Fortunately, this doomsday vision of the American future had to change. America has never been a fearful or pessimistic nation, and shattering the Obama narrative with a more authentic American future -- a new optimistic narrative for future generations -- had to be created!
All of this led American Opportunity/Free Congress Foundation to advocate for tax cuts in our “Growth Code”, a comprehensive proposal for economic growth. We recognized in our Growth Code that the losses of the Great Recession of the Obama era had never been regained, and never would be regained with a nation policy of slow growth. In fact, the historical growth average of the U.S. was 3.2% GDP per year, and we had to match or exceed that rate to recover.
We here at American Opportunity/Free Congress Foundation do not presume to take all the credit for the tax cut that was implemented by President Trump and the Congress. Yet we do take credit for joining our voice to the call for increased economic growth as a national imperative as early as 2010 -- and it was that national conversation that helped set up the public discussion for the need of a new America-centered economic policy focused on growth.
So in 2017, sweeping tax reform was passed that encourages capital investment, and business opportunities. It was a fraction of what the AO/FCF Growth Code wanted to see in order to encourage 5% GDP growth, but just look at the results so far!
Our “Growth Code” legitimates the real story of America: Growth and opportunity! Meanwhile, the political left in this country continues to root for America's decline. Despite the overwhelming evidence that the Trump tax cuts have succeeded, to this day the far left continues to demonize American jobs and business.
Need proof? As recently as March 28, 2019 the New York Times reported a depressing story of how forecasters expected slower growth in the U.S. for 2019. But on April 27, 2019 the news came out that the U.S. economy was surging to 3.2% GDP growth. “Reports of the economic expansion’s death appear to have been greatly exaggerated”, confessed the New York Times.
More after the jump. . .