The president has proven understandably desperate for something to claim as an accomplishment in an effort to boost the public image of his presidential administration.
To that end, he was overjoyed to sign a tax reform plan into law late last year, with the going line from the Trump administration being that tax cuts for the wealthy passed in conjunction with a smattering of tax cuts for middle class people would help increase the impact of the middle class tax cuts. However, to suggest that large tax cuts for corporations are like a silver bullet is misguided and short sighted at best.
However, this has not stopped the members of the Trump Administration, including Ivanka Trump, who serves as an unpaid adviser to the president, from claiming that Trump policies have been a major boon for the economy.
In a rather oddly all caps Thursday tweet, Ivanka touted selected seemingly positive economic indicators, writing:
‘DOW ABOVE 25,000 POINTS FOR THE FIRST TIME IN HISTORY . 250,000 NEW JOBS ADDED IN DECEMBER, BEATING ESTIMATES . LAYOFFS LOWEST SINCE 1990!’
For one, although the stock market has been hitting new records lately, it’s not as though it’s a brand new thing for the stock market to do so. The stock market has been increasing in value since the end of the Obama Administration, although that doesn’t mean that fortunes are improving for any vast swath of the American population. Not everyone has advanced far enough in life to have a stake in the stock market.
CNBC reported that average hourly wages are not expected to rise very much any time soon, and, concurrently, some experts are suggesting that the economy is on its way to overheating. In other words, the growth that Trump is fueling through continuing to work on behalf of corporations even though the economy he inherited was in good shape could easily prove unsustainable and trigger a recession — but the Trumps continue to praise it anyway.