Daily Management Review

Donald Trump: America’s economy is booming


11/27/2017


The US economy is booming, despite the ongoing investigation of the "Russian trace", US President Donald Trump wrote on his Twitter page.



Gage Skidmore
Gage Skidmore
"From the first day that I took office, everything you hear is a false explanation of the democrats for losing the election: Russia, Russia, Russia. Despite of this, there is an economic boom and I did more than any other President (USA) for ten months," Trump wrote.

Contrary to the chaos that occurred in the United States in the first year of Donald Trump's presidency, the American economy is now booming. Wall Street is flourishing, and the unemployment rate is at the lowest level of 4.1% in 17 years, ABC News writes.

However, the publication questions whether this is the merit of the current head of the White House.

Mike Ryan, Chief Investment Officer of UBS America, says it is, but only partially.

"Part of this is the business cycle. Business cycles go through a natural rhythm where you have an early stage of recovery, it goes into expansion, then a later phase of expansion, and I think that Trump's administration has benefited from it, but I would also say that politics helped and supported it", he said.

In Washington, there have been changes that have altered what was possible.

There was no discussion about tax reform before the elections. There was little effort to try to cancel or change the regulatory environment, so I think that the culture has changed. "

Trump is planning big tax cuts for a wealthy portion of Americans, arguing that the corporate tax rate in the US at 35% is the highest in developed countries. He plans to reduce it to 20%, and to cut personal income tax for people with high incomes.

The package was adopted by the House of Representatives, and Douglas Henry, who owns a factory in Lebanon, Pennsylvania, hopes that the bill will soon receive approval from the Senate.

"The market simply screams about the unmet demand and growth that small businesses and independent businesses can offer, and we hope that the market will continue to demand our products, and we can continue to expand, could make a small contribution to GDP, and improve performance of our employees", he said.

source: abcnews.go.com






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