Angry Americans are apparently fueling this crazy presidential election. Why the anger? It’s something we all work for: Money.
For fifty years, from 1950-2000, our economy grew at an average annual rate of 3.5%. This means we got wealthier—from $16,000 to over $50,000 over person.
So what has happened since 2000? We’ve had 2% growth. This means we haven’t had a pay raise in 15 years.
Democrats declare that it’s Wall Street’s fault, crony capitalists’ fault, the uber-rich one percent’s fault, and the fault of corporations who take all the tax breaks they can get. Their strategy involves imposing hefty taxes on them. But the rich take their money and run while corporations pass extra costs on to us.
Bernie Sanders is dividing Democrat loyalty, but it’s the Republicans truly feeling the burn.
The GOP “Establishment” hopes to knock down the invincible Donald Trump. He claims he’ll make America great without giving much detail.
Cruz is more specific as he vows to abolish the IRS and carpet bomb our enemies. Both want to bring back offshore jobs and the trillions in offshore banks.
Democrats and Republicans with different solutions for one nation with divided people.
But the reality is that fifteen years without any pay raise hurts. We ended last year with a paltry 1.9% growth. No wonder angry Americans are demanding drastic change.
During his presidency, John Kennedy (D) slashed taxes and the economy grew 40 percent. President Ronald Reagan (R) cut taxes and the economy grew by 34 percent.
Tax cuts worked for both parties. Unfortunately, our government and its costs have grown exponentially since then.
The next president better have some real solutions, because if our economy doesn’t improve, then nothing is going to change, and American anger could get even worse.