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10 Things That Every American Should Know About Donald Trump’s Plan To Save The U.S. Economy

donald-trump-speech-voa-public-domainCan Donald Trump turn the U.S. economy around?  This week Trump unveiled details of his new economic plan, and the mainstream media is having a field day criticizing it.  But the truth is that we simply cannot afford to stay on the same path that Barack Obama, Hillary Clinton and the Democrats have us on right now.  Millions of jobs are being shipped out of the country, the middle class is dying, poverty is exploding, millions of children in America don’t have enough food, and our reckless spending has created the biggest debt bubble in the history of the planet.  Something must be done or else we will continue to steamroll toward economic oblivion.  So is Donald Trump the man for the hour?

If you would like to read his full economic plan, you can find it on his official campaign website.  His plan starts off by pointing out that this has been the weakest “economic recovery” since the Great Depression…

Last week’s GDP report showed that the economy grew a mere 1.2% in the second quarter and 1.2% over the last year. It’s the weakest recovery since the Great Depression – the predictable consequence of massive taxation, regulation, one-side trade deals and onerous energy restrictions.

And Trump is exactly right about how weak this economic recovery has been.

So how would he fix things?

The following are 10 things that every American should know about Donald Trump’s plan to save the U.S. economy…

#1 Donald Trump would lower taxes on the middle class

The tax savings under Trump’s plan would actually be quite substantial for middle class families.  The following numbers come from a recent Charisma article

• A married couple earning $50,000 per year with two children and $8,000 in child care expenses will save 35% from their current tax bill.

• A married couple earning $75,000 per year with two children and $10,000 in child care expenses will receive a 30% reduction in their tax bill.

• Married couple earning $5 million per year with two children and $12,000 in child care expenses will get only a 3% reduction in their tax bill.

#2 Donald Trump would lower taxes on businesses

Under his plan, no business in America would be taxed more than 15 percent.  Alternatively, Hillary Clinton’s plan would tax some small businesses at a rate of close to 50 percent.  So Trump’s plan would undoubtedly be good for businesses, and it would encourage many that have left the country to return.

But where would the lost tax revenue be made up?

#3 Childcare expenses would be exempt from taxation

For working families with children this would be a great blessing.  Without a doubt this is an effort to win over more working women, and this is a demographic that Trump has been struggling with.

It is definitely an idea that I support, but once again where will the money come from to pay for this?

#4 U.S. manufacturers will be allowed to immediately fully expense new plants and equipment

This would undoubtedly lead to a boom in capital investment, but it would also reduce tax revenue.  As an emergency measure this would be very good for encouraging manufacturers to stay in America, but it would also likely increase the budget deficit.

#5 A temporary freeze on new regulations

Red tape is one of my big pet peeves, and so I greatly applaud Trump for this proposal.  I think that Bob Eschliman put it very well when he wrote the following about Trump’s planned freeze on new regulations…

In 2015 alone, federal agencies issued over 3,300 final rules and regulations, up from 2,400 the prior year. Studies show that small manufacturers face more than three times the burden of the average U.S. business, and the hidden tax from ineffective regulations amounts to “nearly $15,000 per U.S. household” annually. Excessive regulation is costing our country as much as $2 trillion dollars per year, and Trump will end it.

#6 All existing regulations would be reviewed and unnecessary regulations would be eliminated

In particular, Trump’s plan would focus on getting rid of regulations that inhibit hiring.  The following are some of the specific areas that he identifies on his official campaign website

  • The Environmental Protection Agency’s Clean Power Plan, which forces investment in renewable energy at the expense of coal and natural gas, raising electricity rates;
  • The EPA’s Waters of the United States rule, which gives the EPA the ability to regulate the smallest streams on private land, limiting land use; and
  • The Department of Interior’s moratorium on coal mining permits, which put tens of thousands of coal miners out of work.

#7 Donald Trump would fundamentally alter our trade relationships with the rest of the globe

Donald Trump is the first major party nominee in decades to recognize that our trade deficit is absolutely killing our economy.  I write about this all the time, and it is a hot button issue for me.  So I definitely applaud Trump for proposing the following

  • Appoint trade negotiators whose goal will be to win for America: narrowing our trade deficit, increasing domestic production, and getting a fair deal for our workers.
  • Renegotiate NAFTA.
  • Withdraw from the TPP.
  • Bring trade relief cases to the world trade organization.
  • Label China a currency manipulator.
  • Apply tariffs and duties to countries that cheat.
  • Direct the Commerce Department to use all legal tools to respond to trade violations.

#8 Donald Trump’s plan would be a tremendous boost for the U.S. energy industry

Barack Obama promised to kill the coal industry, and that is one of the few promises that he has actually kept.  Obama also killed the Keystone Pipeline, and right now the energy industry as a whole is enduring their worst stretch since the last recession.  To turn things around, Trump would do the following

  • Rescind all the job-destroying Obama executive actions including the Climate Action Plan and the Waters of the U.S. rule.
  • Save the coal industry and other industries threatened by Hillary Clinton’s extremist agenda.
  • Ask Trans Canada to renew its permit application for the Keystone Pipeline.
  • Make land in the Outer Continental Shelf available to produce oil and natural gas.
  • Cancel the Paris Climate Agreement (limit global warming to 2 degrees Celsius) and stop all payments of U.S. tax dollars to U.N. global warming programs.

#9 Trump would repeal Obamacare

Trump claims that Obamacare would cost our economy two million jobs over the next ten years.  And without a doubt, it has already cost the U.S. economy a lot of jobs.

Not only that, but Obamacare has also sent health insurance premiums soaring, and this is putting a tremendous amount of financial pressure on many families.

Trump says that he would “replace” Obamacare, but that is a rather vague statement.

What exactly would he replace it with?

#10 Trump’s plan says nothing about the Federal Reserve

This is a great concern, because the Federal Reserve has far more power over the economy than anyone else does.  It is at the very heart of our debt-based system, and unless something is done about the Fed our debt bubble will continue to get even larger.

Since the Federal Reserve was created in 1913, the value of the U.S. dollar has fallen by more than 96 percent and our national debt has gotten more than 5000 times larger.  For Trump to not even mention the Federal Reserve in his economic plan is a tremendous oversight.

We are in the midst of a long-term economic decline, and things have not gotten better during the Obama years.  If you can believe it, a study that was just released by Harvard even acknowledges this

America’s economic performance peaked in the late 1990s, and erosion in crucial economic indicators such as the rate of economic growth, productivity growth, job growth, and investment began well before the Great Recession.

Workforce participation, the proportion of Americans in the productive workforce, peaked in 1997. With fewer working-age men and women in the workforce, per-capita income for the U.S. is reduced.

Median real household income has declined since 1999, with incomes stagnating across virtually all income levels. Despite a welcome jump in 2015, median household income remains below the peak attained in 1999, 17 years ago. Moreover, stagnating income and limited job prospects have disproportionately affected lower-income and lower-skilled Americans, leading inequality to rise.

That same study found that the percentage of Americans participating in the labor force peaked back in 1997 and has been steadily declining since that time…

declining-labor-force-participation-rate-harvard

If we continue to do the same things, we will continue to get the same results.

Donald Trump is promising change, and many of his proposals sound good, but there are also some areas to be concerned about.

Ultimately, just tinkering with the tax code and reducing regulations is not going to be enough to turn the U.S. economy around.  We need a fundamental overhaul of our economic and financial systems, and Trump’s plan stops well short of that.  But without a doubt what he is proposing is vastly superior to Hillary Clinton’s plan, and so he should definitely be applauded for at least moving in the right direction.

21 Facts About America’s Decaying Infrastructure That Will Blow Your Mind

You can tell a lot about a nation by the condition of the infrastructure.  So what does our infrastructure say about us?  It says that we are in a very advanced state of decay.  At this point, much of America is being held together with spit, duct tape and prayers.  Our roads are crumbling and thousands of our bridges look like they could collapse at any moment.  Our power grid is ancient and over a trillion gallons of untreated sewage is leaking from our aging sewer systems each year.  Our airports and our seaports are clogged with far more traffic than they were ever designed to carry.  Approximately a third of all of the dam failures that have taken place in the United States since 1874 have happened during the past decade.  Our national parks and recreation areas have been terribly neglected and our railroads are a bad joke.  Hurricane Katrina showed how vulnerable our levees are, and drinking water systems all over the country are badly outdated.  Sadly, at a time when we could use significant new investment in infrastructure, our spending on infrastructure is actually way down.  Back during the 50s and the 60s, the U.S. was spending between 3 and 4 percent of GDP on infrastructure.  Today, that figure is down to about 2.4 percent.  But of course we don’t have any extra money to spend on infrastructure because of our reckless spending and because of the massive amount of debt that we have accumulated.  While the Obama administration is spending more than half a million dollars to figure out why chimpanzees throw poop, our national infrastructure is literally falling apart all around us.  Once upon a time nobody else on the planet could match our infrastructure, and now we are in the process of becoming a joke to the rest of the world.

The following are 21 facts about America’s failing infrastructure that will blow your mind….

#1 The American Society of Civil Engineers has given America’s crumbling infrastructure an overall grade of D.

#2 There are simply not enough roads in the United States today.  Each year, traffic jams cost the commuters of America 4.2 billion hours and about 2.8 million gallons of gasoline.

#3 It is being projected that Americans will spend an average of 160 hours stuck in traffic annually by the year 2035.

#4 Approximately one-third of all roads in the United States are in substandard condition.

#5 Close to a third of all highway fatalities are due “to substandard road conditions, obsolete road designs, or roadside hazards.”

#6 One out of every four bridges in America either carries more traffic than originally intended or is in need of repair.

#7 Repairing all of the bridges in the United States that need repair would take approximately 140 billion dollars.

#8 According to the U.S. Chamber of Commerce, our decaying transportation system costs the U.S. economy about 78 billion dollars annually in lost time and fuel.

#9 All over America, asphalt roads are being ground up and are being replaced with gravel roads because they are cheaper to maintain.  The state of South Dakota has transformed over 100 miles of asphalt roads into gravel roads, and 38 out of the 83 counties in the state of Michigan have transformed at least some of their asphalt roads into gravel roads.

#10 There are 4,095 dams in the United States that are at risk of failure.  That number has risen by more than 100 percent since 1999.

#11 Of all the dam failures that have happened in the United States since 1874, a third of them have happened during the past decade.

#12 Close to half of all U.S. households do not have access to bus or rail transit.

#13 Our aging sewer systems spill more than a trillion gallons of untreated sewage every single year.  The cost of cleaning up that sewage each year is estimated to be greater than 50 billion dollars.

#14 It is estimated that rolling blackouts and inefficiencies in the U.S. electrical grid cost the U.S. economy approximately 80 billion dollars a year.

#15 It is being projected that by the year 2020 every single major container port in the United States will be handling at least double the volume that it was originally designed to handle.

#16 All across the United States, conditions at many of our state parks, recreation areas and historic sites are deplorable at best.  Some states have backlogs of repair projects that are now over a billion dollars long….

More than a dozen states estimate that their backlogs are at least $100 million. Massachusetts and New York’s are at least $1 billion. Hawaii officials called park conditions “deplorable” in a December report asking for $50 million per year for five years to tackle a $240 million backlog that covers parks, trails and harbors.

#17 Today, the U.S. spends about 2.4 percent of GDP on infrastructure.  Meanwhile, China spends about 9 percent of GDP on infrastructure.

#18 In the United States today, approximately 16 percent of our construction workers are unemployed.

#19 China has plans to build 55,000 miles of highways by the year 2020.  If all of those roads were put end to end, it would be longer than the total length of the entire U.S. interstate system.

#20 The World Economic Forum ranks U.S. infrastructure 23rd in the world, and we fall a little bit farther behind the rest of the developed world every single day.

#21 It has been projected that it would take 2.2 trillion dollars over the next 5 years just to repair our existing infrastructure.  That does not even include a single penny for badly needed new infrastructure.

So where did we go wrong?

Well, one of the big problems is that we have become a very materialistic society that is obsessed with short-term thinking.  Investing in infrastructure is something that has long-term benefits, but these days Americans tend to only be focused on what is happening right now and most politicians are only focused on the next election cycle.

Another major problem is that there is so much corruption and waste in our system these days.  The government certainly spends more than enough money, but very little of that money is spent wisely.  A lot of the money that could be going toward rebuilding our infrastructure is being poured down the toilet instead.  For much more on this, please read my previous article entitled “16 Sickening Facts That Show How Members Of Congress And Federal Workers Are Living The High Life At Your Expense“.

Unfortunately, it is probably appropriate that our infrastructure is decaying because we are decaying in just about every other way that it is possible for a society to decay.

We are decaying economically, politically, mentally, emotionally, physically, morally and spiritually.

We are a complete and total mess.  So why shouldn’t what is happening to our infrastructure on the outside match what is happening to us as a nation on the inside?

And sadly, we simply do not have the money that we need for infrastructure because of all the debt that we have piled up.  The federal government, our state governments and our local governments are all struggling to stay afloat in an ocean of red ink, and unfortunately that means that spending on infrastructure is likely to be cut even more in the years ahead.

So get used to rotting, crumbling, decaying infrastructure.  What you see out there right now is only just the beginning.

Finca Bayano

Panama Relocation Tours




 

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