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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums"Think of what will happen to your now beautiful 401-k's!"
https://www.motherjones.com/politics/2018/10/trump-tweet-economy-midterms-tax-cut-401k/Trump Tweets That a Blue Wave in November Would Hurt the Economy
Think of what will happen to your now beautiful 401-ks!
Edwin Rios
October 21, 2018 6:51 PM
On Sunday afternoon, President Donald Trump boasted yet again about the countrys job growth, arguing its just one reason why voters should elect Republicans during the November midterms. If Democrats emerged victorious after the November midterms, Trump tweeted, they can never do even nearly as well!
While White House economist Kevin Hassett claimed last month that Trumps time in office has set off economic growth, the truth is that overall job growth has steadily improved and unemployment has fallen since former President Barack Obama was in office. And in the 19 months Trump has been president, 3.6 million jobs have been created, slightly less than the 3.9 million jobs created over the same period at the end of Obamas time in office. When you hear how great the economy is doing right now, lets just remember when this recovery started, Obama told a crowd at the University of Illinois in September.
Trump has previously said that Democrats will end the sweeping tax cuts he passed in 2017, which he says have made the economy the strongest its ever been in the history of our nation. San Francisco Fed economists Tim Mahedy and Daniel J. Wilson warned that assuming tax cuts would spur economic growth in an already strong economy is overly optimistic. At the same time, Vox reports that the tax cuts have been responsible for a ballooning $779 billion federal deficit, the largest since 2012. Sen. Kamala Harris and other Democrats have called for repealing the tax cuts.
On Saturday, Trump said that Republicans were preparing to unveil a very major tax cut for middle-income households before November. Congress doesnt reconvene until November 13.
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"Think of what will happen to your now beautiful 401-k's!" (Original Post)
babylonsister
Oct 2018
OP
Turbineguy
(37,331 posts)1. Well, he's just setting the stage
for when his economic chickens come home to roost.
llmart
(15,540 posts)2. Um...
My 401K took a huge hit in the past couple of weeks.
This guy is truly an ass.
CountAllVotes
(20,874 posts)3. My friend has a 401K
He said it is down almost 2% for this year.
Some big beautiful blah blah blah !
Dawson Leery
(19,348 posts)4. Blackmail is a traditional tactic of the mafia.
Now where would Trump have learned that from?