By: Brian Evans
New economic numbers were released this week, which showed how the number of job openings in America has surged to the highest level ever recorded by the Bureau of Labor Statistics since they began recording job openings in 2000. The numbers show that there is now a record 6.7 million job openings for Americans, well outpacing the number of unemployed Americans. Consequently, there is now a job available for each and every job seeker in the United States, so long as they are willing and able to work.
The largest number of job openings came in April of this year, as President Trump’s tax cuts began to kick in, and expanded the United States economy. The largest increase in job openings took place in the manufacturing sector. It added 33,000 job openings, with the information sector coming in second, with 26,000 job openings.
The Trump Administrations efforts to expand America jobs, came as a result of increased immigration enforcement, causing businesses to have to hire American workers over both foreign workers and especially illegal aliens. Combine that with the President’s tax cuts, and his policies have let American’s keep more of the money that they make, and led to incredible wage increases for American’s in construction, restaurants, small businesses, and other industries throughout America.
As a result of these factors, American spending skyrocketed, therefore giving the markets a huge boost in earnings. All the factors combined, have not only dropped American unemployment to record lows, but it has drastically dropped unemployment for women, blacks, and minorities to the lowest levels ever recorded. It has also allowed businesses to give overtime to workers, helping the pocketbook of workers and even teenagers throughout the country. Businesses have even had to raise wages to retain workers, due to the competitiveness for American workers in the Trump economy. Furthermore, women have been able to recruited to take jobs at higher wages, as a result from illegal aliens being shut out of the job market.
Reports also indicate that the Trump bump has helped out some of the most Progressive states like California. In fact, it has helped boost their struggling economies more than most states throughout the country, with California being helped the most.
Bloomberg News pointed out California has been…
“outperforming the U.S. in job growth, manufacturing, personal income, corporate profits, and the total return of its bonds.”
In all, California’s gross domestic product (GDP) grew by $127 billion, or 4.9%, to $2.7 trillion last year, and created more than 2 million new jobs. Consequently, California moved from what could be compared to the world’s 7th largest economy in 2016 to the 5th largest by December 2017.
Regardless, the Progressive controlled state has ironically opposed every economic policy that the Trump Administration has implemented. They have opposed every regulation that the has eased. They have fought against his anti-illegal immigration policies, regardless of the benefits. However, even with their opposition, the state has continued to benefit from the President’s policies. Just imagine how good the Californian economy would be if they embraced lower state taxes, ending sanctuary cities, and reduced regulations. However, despite the evidence, the California Attorney General Xavier Becerra just proceeded last month to file another lawsuit against the Trump Administration, making it their 31st lawsuit against the Trump Administration, and the policies that the President is implementing, which benefits all Californian’s.
Meanwhile, California Governor Jerry Brown escalated his state’s income tax to the highest in the nation, increased the state to a mandatory $15 minimum wage, and pushed for climate change legislation that fights for the globalist agenda, and against America. Moreover, he has embraced the MS-13 gangs, created sanctuary cities to harbor those thugs, and other illegals who are here in violation of the countries laws and immigration policies.
Just a few of the items on the President’s economic agenda that has been implemented, shows the polar opposite positions that Californian lawmakers vary on in contrast to the Trump Administration. For example, President Trump pushed through the largest tax cut in United States history, used his executive orders to decrease manufacturing and job stifling regulations, exited the anti-American Paris Climate Accords, and much more.
Pro-Trump State’s like Texas also benefited greatly from the Administrations economic and immigration policies. Texas almost tied California’s GDP with $226 billion GDP in manufacturing, and a lower unemployment rate of 4.1%, when compared to California.
As a result of the obvious benefits that President Trump’s Administration has had on the people of California, one would think that California legislators and politicians would thank President Trump, and embrace his agenda. However, it is not the workers interests that the state considers important. Instead, it is the Progressive-Socialist and Communist agenda that are at the forefront of their plans for the state.
Overall, the Trump Administration has ushered in an era of increased financial independence and freedom for American’s not only throughout middle America, but throughout some of the most left-wing socialist states. Under President Trump, he has overseen one of the largest expansions of the American economy since the period just after the Great Depression. An economic boom that has resulted in a reduction of the United States debt by more than $30 Billion over the past two months. In fact, it is a bit of irony, since the Democrats, Fabian-Economic RINO Republicans, and the Congressional Budget Office (CBO) all touted how devastating the Trump tax cuts would be to the United States deficit, regardless of conservative’s explanations of why tax cuts stimulate the economy, and increase revenue as the economy begins to perform better each year. Fortune, USA Today, the Brookings Institute and all the Progressive Mainstream Media outlets said that the Trump tax cuts would balloon the US debt. A claim that is now beginning to lose all credibility.
To understand many of President Trump’s economic policies, you can look back to the Reagan Administration, and how Ronald Reagan implemented Reaganomics. The Democrats made many of the same claims against President Ronald Wilson Reagan, when he drastically lowered taxes and reduced regulations. Similar to President Trump, in 1981 President Reagan faced an economy in shambles due to the economic policies of the prior Administration of Jimmy Carter. There was 10.8% unemployment, and double-digit inflation. The Democrat and RINO Establishment at the time, argued that this inflation was now endemic to the American economy, and could not be stopped, at least not without a catastrophic economic collapse. It echoes similar arguments that American’s heard from President Obama and his Administration’s. Obama claimed that America’s sluggish economy, high poverty, a shrinking middle class, and high unemployment was the “new normal”. The Wall Street Journal reported in 2014 that…
“President Barack Obama warned in an interview on CBS’s 60 Minutes about the danger of a “new normal” taking hold of the economy – an environment in which businesses become accustomed to fewer employees and the U.S. job market never regains its footing.
Barack Obama, Former President of the United States
Also, the Obama Administration said on their own White House Website that…
“the unemployment rate remains painfully high and is not predicted to reach normal levels for an extended period.”
President Reagan implemented many of the same economic programs to reverse the stagnation and near collapse of the American economy. For example, they both…
- Cut tax rates to restore incentives for economic growth.
- Deregulation, which saved American’s under Reagan an estimated $100 billion per year in reduced prices on oil, natural gas, and other sectors of the economy.
- Spending reductions,which reduced the size of government under the Reagan Administration, and reductions that President Trump is trying to implement now, against the forces of Congressional Elitists, who not only refuse to cut spending, but want to spend more, and expand the size of government to even more massive proportions.
Interestingly, Obamanomics was the polar opposite of the Reagan era policies and now the Trump Administrations policies. In fact, President Obama dramatically raised taxes, garnered one of the largest expansions of government regulations on American businesses, oversaw the largest government takeover of private businesses like General Motors, and 1/3 of the American economy, when they took over healthcare. Obama raised the top income taxes by 20%, capital gains tax by 60%, Medicare payroll tax by 62%, death tax by 55%, and other taxes across the board. Also, President Obama aided in one of the largest expansions of government in history. Even then, the Obama Administration called for even higher taxes. Meanwhile, instead of calling for spending cuts, the Obama Administration called for, and enacted during his first year, a $1 Trillion spending package. Within his first two years, Obama had increased federal spending by 28%, and proposed to increase spending by another 57% by 2021. As a result, Obama increased the National Debt by $8.588 trillion, a 74 percent increase from the $11.657 trillion debt at the end of Bush’s last budget, FY 2009. Meanwhile, Obama said it was necessary to go into debt, in order to stabilize the American economy.
Conversely, President Trump’s tax cuts were attacked by Progressive’s, Socialists, Communists, Mainstream Media, and even the supposedly non-partisan Congressional Budget Office as too expensive. They all touted the plan as adding $8.282 trillion to the then $20.245 Trillion December 2017 national debt. They even claimed that President Donald Trump would add almost as much in his first term as Obama did in two terms. A claim that seems to be springing leaks in its validity, like a ship filled with thousands of holes. In fact, according to the amount of US Debt recorded daily at the US Treasury website, the amount of US debt outstanding on April 2nd, 2018 was $21,119,428,167,134. On June 1st, 2018, the amount of US debt had decreased to $21,083,101,841,091. The amount of US debt outstanding decreased by over $36 billion in just the over the past two months. A far cry from the left-wing projections of substantial debt increases.
In all, President Trump has managed to reduce the United States debt, despite the Federal Reserve choosing to increase interest rates on the Federal debt after President Trump took office. In fact, the Federal Reserve has increased rates more than 1% since the 2016 election which on $20 trillion of debt, adds a whopping $200 billion. Still, the Trump tax cuts, deregulation, and immigration reform has decreased the debt as the economy has just begun to grow. Part of the reason for this phenomenon is an economic model called the laffer curve and Reaganomics.
To better understand the growth of the economy, one must understand supply side economics, and the laffer curve. The theory behind the economic concept called the laffer curve claims that as taxes increase (like during the Obama Administration), tax revenue collected by the government also increases. However, when taxes reach a critical point (past point T*), and American’s paychecks get small enough that they lose the incentive to work as hard, and sometimes not at all. As a result, unemployment increases, wages decrease, resulting in decreased spending, leading to less business revenue, which resulted in tax revenue during the Obama years dropping drastically, leaving less government revenue and higher debt. The laffer curve goes even further in showing that when tax rates hit 100% (like under communism), people lose all reasons and will to work. As a result, federal revenue hits rock bottom. (Seen below)
Governments should be trying to hit that sweet spot on the curve (point T*), because that is the exact point where governments are able to collect the maximum amount of tax revenue, while still having the incentive for people to continue working hard.
This brings us back to the Trump and Republican tax cuts. President Trump pushed hard to cut the tax burden on American’s as much as possible, without depriving the government of much-needed money to finance the military, infrastructure, schools, police, and other services that are needed to keep American society functioning well. It was not an easy task, since many Congressional and Senate leaders follow Fabian Economics models that are identical to the Progressive-Socialist models. They just take a different path to get to a socialist state. Therefore, Fabian-Economic Rino Elitists in the Party understandably sided with the Progressive-Socialist Democrats, since they both belive that Socialism, and not Capitalism, is the ideal economic model for America.
However, the Laffer Curve is just one aspect of conservative supply side economics model. Supply side economics argues that economic growth is affected greatest by not simply lowering taxes, but also decreasing regulations. That is because regulations, like the massive growth of burdensome regulations that were enacted under the Obama Administration, tend to choke out business, drive businesses overseas, and disincentive the expansion and growth of businesses and manufacturing. In fact, the last time the economy grew with such vigor was under President Reagan’s Administration. Ironically, it was Reagan and his chief economist, Robert Mundell who started supply side economics. Since Reagan, every subsequent Republican and Democrat Presidential Administration has countered Reagan’s growth and expansion of the United States economy by increasing taxes on American’s, and slapping massive regulations on businesses, corporations and the manufacturing sector. That is until President Trump and his Administration took control of the economy in 2017.
In the end, Progressive Socialists can try to spin the downfall of the American economy, but as time goes on, it will become a difficult position to defend. Especially as America’s economy expands at massive rates, while all classes of American’s benefit from President Trump’s economic policies. In fact, Democrats will continue to see an ever-increasing erosion of support for not only their Obamanomics Socialist and anti-Capitalist policies, but they will find themselves having to defend a diminishing base of support for their Party itself. Especially as they further reveal their anti-American tendencies, and move more and more towards the communist extreme of their party. A move that is bound to turn off a large number of the American electorate. Especially, as President Trump cuts off their illegal immigration tap, designed to allow a constant flow of new socialist voters who are dependant on the American government for survival.