The economic recovery after Bush was very slow. Obama focused on the ACA his first two years but after that congress was majority republican and they did what they could to prevent his agenda to invest in economic growth. The slow growth may have been why the economy has been so good since 2010, with no recession.
Looking at Trump’s promises in 2016 he aimed for a permanent 4% GPD. He got the tsx cuts in 2017 but it did not fire up the economy like republicans wanted. Looking at the chart of growth it has been quite stable from 2009 to 2020 when it tanks due to the pandemic. So Trump tried some things but none fired up the economy.
The economy under Biden has been stronger, but it’s been offset by post pandemic global inflation. The US economy is so strong it’s bolstering much of the world.
So what does Trump offer that’s better? He wants to keep his tax cuts which will help the rich and limit revenue, which is an ongoing problem. His tariffs are seen as a foolish idea that will push inflation higher. And his social and global policies will cause instability and be a national security issue which tends to slow the economy and growth. If he deports millions of migrants it will devastate farmers and construction. So Biden is by far the safest bet for global economic stability.
One way to help understand Trump's position on taxes is if you give the tax money to the Government, because of the deficit and Big Government inefficiency, the tax payers get about a (minus) -22.7% rate of return on their tax investment. This gets worse each year. For every dollar we give them, they throw away almost a quarter, fall behind, and then need to borrow more to make up for it, making the interest payment worse, next year.
Note: The USA Government collected $4.4Trillion in tax revenue in 2023, and will now throw away $ 1 trillion for - 22.7% rate of return to pay the interest on the debt.
The interest of the USA national debt has reached $1trillion per year. That is the interest per year and not the debt. This was made worse by the Biden economy, since the Fed had to raise interest rates to stem off inflation. This made the interest rate on the debt go up. This down the toilet amount is more than we spend on the military.
If we give the taxpayer back their money, even if they put it under the mattress, they make the nation money, since even a zero rate of return is better than -22.7%. If you give taxes back to corporations, the growth in the GNP is a positive rate of return. If there was not government mismanagement, Social Security would still be solvent and many other needed programs would have funding.
The boneheads need help and accountability; balanced budgets, and tax refunds until they can show more responsibility. The extra tax rebates to consumers and business, multiply the GNP for a positive rate of return for the whole country.
One work around may be a tax return that each tax payer, can use to buy up national debt and get interest revenue. Even that is a positive rate of return but will be misused by the bonehead leaders, to add to the debt and higher interest payments. The bonehead need to be taken out of the equation until they trim the fat. Trimming the fat can be their revenue stream.