Letter: Right economic moves
To determine “right,” the first step of the scientific method is observation. Bob Lynne obviously has missed observing our economy for the last 17 months and over the previous 8 years.
The U.S. Gross Domestic Product hit 4.1 percent over the last quarter, and President Obama never averaged 2 percent for 8 years. Remember, Obama said “the new normal for GDP is 2 percent.” Our unemployment is now down to 4.1 percent, and under Obama the average unemployment for 8 years was over 7 percent.
Three major steps taken to fuel our economy are, 1) Tax cuts for everyone and the U.S. corporations. The first-world tax rates are between 15 and 21 percent, except for the U.S. corporations, which was 35 percent! That is why many large corporations moved their businesses overseas. From a TV clip of Obama and Steve Jobs, it was obvious that Obama never understood this. The corporation tax cuts provided an increase of pay for many employees as well as bonuses. 2) A second boost to our economy was removing the requirement of government health care for those businesses with more than 50 employees. The obvious solution for these businesses was to place those extra employees on part time. This created the most part-time employees in our history. 3) Another boost to our economy was the elimination of many business restrictions by Obama based on the false premise that CO2 is producing global warming.
Other Trump policies fueling our economy are the increase in oil and coal production, surge in home mortgage applications, resulting in the largest growth of the stock market, 39 percent in 18 months.