President Donald Trump says his administration is a looking at tax cut proposals but not as a response to a potential recession. He says, “I’m looking at that all the time anyway.” Trump talked about the economy and trade with China during a meeting Tuesday in the Oval Office with the president of Romania.
Trump says his administration is looking at a cut in the capital gains tax when investors sell assets. It is also exploring lower payroll taxes.
But mostly, Trump is pressuring the Federal Reserve to cut interest rates. He says, “They have to do a rate cut.”
Trump says the word recession is “inappropriate” and if the Fed would do its job, “you would see a burst of growth like you’ve never seen before.”
(AP)
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First FULL EMPLOYMENT recession in history!
It seems Trump is concerning himself with the employment and wages of American workers (which are not in “recession” mode) rather than corporate profits (which are hurting, primarily due the “trade war” Trump launched). He seems to be ignoring past Republican “orthodoxy” that was pro-business, and anti-worker. It should be noted that his anti-immigrant policy puts upward pressure on wage, holds down unemployment in the USA, hurts corporate profits, and hurt economic growth.