Trump will likely boast about this legislation tonight in his State of the Union speech as a win for the middle class, even though the large tax cuts all went to the upper class and massive tax cuts went to corporations. As many as a third of middle class Americans will actually pay more taxes as a result of the new law, and some will pay substantially more.
Of the companies actually paying bonuses to some of their workers, a number of prominent corporations actually fired thousands of other workers (details here). Comcast, AT&T, and Walmart, for instance, gave a one-time bonus to some employees while firing others.
Trump will also likely tonight attempt to claim that the economy is stronger because he is President. The numbers, however, show the economy is weakening. For instance, fourth quarter gross domestic product, reported on Friday, was not increasing at the pace it had been previously (details here).
The reality is that Trump's economy is not as strong as it was under President Obama (details here). American voters realize this and credit Obama more than Trump for positive economic news (details here).
So Congress tonight will pretend to believe the snake oil Trump will be peddling, but American voters are not so easily fooled. Stay tuned.
I'll be looking to his «humoristic speech» for sure. «45» will address the most bad State of the Union speech by any president ever.
ReplyDeleteSurely «he'll» say that HE only is doing the best for USA and that ALL others are «bad» people.
HE is surfing on 8 years of Obama era constructing the best for USA even if HE denies it but don't be fooled, in the firs year of his «clownesque» presidency, «45» had done NOTHING constructive for USA. More, HE is more a destructive person and hate one too.
The latest sixth négociations for NAFTA ended in Montreal and, surprise, the head USA negociater went out with a contradictory speech saying, again, that USA had been fooled by Canada and Mexico.
He insisted saying the lumber wood conflict was unfair to USA. The real fact is that USA is always fighting against it and that all what will result is that YOU, normal USA citizens, will pay more to built your houses because lumber wood will cost more and more.
This is just an example that «45» ultra protective, USA first, will affect sooner or longer your economy.
What is contradictory, is that some states are doing good businesses with us, Canada and Province of Québec, not paying much attention to that «45» policies.
Lately, Massachusset signed a 3 trillion dollars contract with our Hydro Québec electricity provider which will bring to the state clean electricity for at least 20 years at a 0,03 cents/kw/h which is a very low price.
Another example that «Trumpty Dumpty» vision of USA economy is way out of REAL facts.
In North America, our three countries are doing business for a long time before that «clown» arrived in office.
AND USA as like Canada and Mexico had benefit of it in most of it.
Isolating USA from the worldwide economy will end up by suffocating your own economy.
In reaction to his isolating policies, the rest of civilized countries are reenforcing their economic free trades and USA will no more be the «richest economic country» in the world.
Already, China and Germany are coming out and many other countries are too.
The «Trans Pacific» free trade zone will give Canada a bigger place where we can sell our production.
USA getting, again, out of it will slow its economy that will not be able to trade with those huge consumers countries. BUY American only will strangle your own economy.
So many things that «45» is blinding Americans from by just thinking «America First».
That is translated in the rest of the world by «America will be Alone» in its corner.
Sad times are to come for you.
ERRATA!
ReplyDeleteReading back my post here I notice a «little» error.
The Hydro Québec electricity contract with Massachussets is more like 3 BILLION dollars, NOT 3 «trillion» dollars.
But the main point is that USA and Canada are interelated economies and that more than 35 USA's states are doing good business here for decades.
POTUS is blinded by old and uninformed informations. USA's workers will surfer IF the NAFTA is ended by that moron.
Another example is the USA farmers that are growing corn which in massively sold to Mexico. If the NAFTA is stopped, they will find it harder to sell it to Mexico.
Not also to mention that lot of USA car parts are made in other countries than USA. Having a REAL ALL AMERICAN car is ridiculous.
I went to USA many times and, curiously, many cars on your road are more Japanese, German, Sweden ones. Not that many USA's cars too...