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Political Discussion
Reply to "What did Donald J. Trump Do to Deserve a Second Term?"
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[quote=Anonymous]American Optimism Small business optimism has hit historic highs. NFIB’s small business optimism index broke a 35 year-old record in August. SurveyMonkey/CNBC’s small business confidence survey for Q3 of 2018 matched its all-time high. Manufacturers are more confident than ever. 95 percent of U.S. manufacturers are optimistic about the future, the highest ever. Consumer confidence is at an 18-year high. 12 percent of Americans rate the economy as the most significant problem facing our country, the lowest level on record. Confidence in the economy is near a two-decade high, with 51 percent rating the economy as good or excellent. American Business Investment is flooding back into the United States due to the tax cuts. Over $450 billion dollars has already poured back into the U.S., including more than $300 billion in the first quarter of 2018. Retail sales have surged. Commerce Department figures from August show that retail sales increased 0.5 percent in July 2018, an increase of 6.4 percent from July 2017. ISM’s index of manufacturing scored its highest reading in 14 years. Worker productivity is the highest it has been in more than three years. Steel and aluminum producers are re-opening. Dow Jones Industrial Average, S&P 500, and NASDAQ have all notched record highs. Dow hit record highs 70 times in 2017 alone, the most ever recorded in one year. Deregulation Achieved massive deregulation at a rapid pace, completing 22 deregulatory actions to every one regulatory action during his first year in office. Signed legislation to roll back costly and harmful provisions of Dodd-Frank, providing relief to credit unions, and community and regional banks. Federal agencies achieved more than $8 billion in lifetime net regulatory cost savings. Rolled back Obama’s burdensome Waters of the U.S. rule. Used the Congressional Review Act to repeal regulations more times than in history. Tax Cuts Biggest tax cuts and reforms in American history by signing the Tax Cuts and Jobs act into law Provided more than $5.5 trillion in gross tax cuts, nearly 60 percent of which will go to families. Increased the exemption for the death tax to help save Family Farms & Small Business. Nearly doubled the standard deduction for individuals and families. Enabled vast majority of American families will be able to file their taxes on a single page by claiming the standard deduction. Doubled the child tax credit to help lessen the financial burden of raising a family. Lowered America’s corporate tax rate from the highest in the developed world to allow American businesses to compete and win. Small businesses can now deduct 20 percent of their business income. Cut dozens of special interest tax breaks and closed loopholes for the wealthy. 9 in 10 American workers are expected see an increase in their paychecks thanks to the tax cuts, according to the Treasury Department. More than 6 million of American workers have received wage increases, bonuses, and increased benefits thanks to tax cuts. Over 100 utility companies have lowered electric, gas, or water rates thanks to the Tax Cuts and Jobs Act. Ernst & Young found 89 percent of companies planned to increase worker compensation thanks to the Trump tax cuts. Established opportunity zones to spur investment in left behind communities.[/quote]
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