The future of American greatness and prosperity hangs in the balance as the 2020 elections approach. Unless President Donald Trump retains the White House, and a GOP majority is restored in the U.S. House, everyday Americans can expect varying degrees of economic ruin.
The re-election of the architect of the nation’s economic revival remains tenuous. Despite doing more to uplift the country than any president in our lifetime, the massive fake news and disinformation pushed by the media undermine the Trump Administration’s success on a daily basis. If a Democrat had a thimble-full of President Trump’s accomplishments, the left would be scurrying to rewrite the law to allow a third presidential term. As next year’s vote draws closer, these are three ways Democrats would destroy the economy should they regain power.
1: Democrats would Repeal the Tax Cuts and Jobs Act
This signature law is the bedrock of the current economic revival. It lowered corporate taxes so that they are on par with those imposed in other countries. Simply put, it made America competitive.
The result was an influx of hundreds of billions in offshore money and companies moving their operations back home. Foreign investment has also soared, and all of this business uptick is a driving force behind wage growth.
A disinformation campaign has already trickled into the fake news media that corporate tax cuts are responsible for the 2019 budget deficit. The facts are that revenues are up. Government, not surprisingly, has spent more taxpayer money than they budgeted.
House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer are on the record calling for the Tax Cuts and Jobs Act repeal. They would need to win the trifecta — House, Senate, and the presidency — to pull it off. Democrats are more than willing to thrust the country back into stagnant wages, double-digit unemployment, and government dependency if they win.
2: Democrats Plan to Raise Your Taxes
Voters do not need to look deep into the policy proposals coming from the Democratic field of presidential hopefuls or their counterparts in Congress. Each and every proposal has a massive, taxpayer price tag attached to it that hardworking families cannot afford.
The Medicare for All proposals that have gained popularity appear to be another tax-and-spend scam that will replace good healthcare for bad, and tax American families to the hilt. Leading Democratic hopefuls such as senators Bernie Sanders, Cory Booker, Kamala Harris, and Elizabeth Warren continue to say that their single-payer systems would save working people money. An impartial financial analysis of these plans begs to differ.
According to research, families earning between $50,000 and $75,000 would get whacked with $7,773 to $9,171 more in taxes each year to pay for government-run healthcare. That figure rises to more than $14,000 for families making $100,000, and households above that number could pay more than $20,000 in added taxes. Medicare for All will harm the economic stability of Middle-Class Americans and upwards of 60 million households to the tune of $38 trillion over 10 years.
3: Democrats would Return to Bad Trade Deals
As the Democratic presidential debates rage on, candidates are being forced to go on the record about the current trade war with China. Hopefuls such as Beto O’Rourke have squarely gone on the record saying they will promptly lift the tariffs on China. Nothing could be more wrong than backing down from the criminal Chinese regime that steals American intellectual property to the tune of $600 billion every year. China is nothing short of a currency manipulating, mafia-style enterprise that has lured American jobs away. Beto is clearly out of his depth.
But frontrunner Joe Biden is also willing to end the tariff war without a deal in place that protects working Americans from property and job theft. As Obama’s number two, Biden was willing to enter the U.S. into the infamous Trans-Pacific Partnership (TPP) that would have traded environmental concessions by the world’s largest polluter — China — in exchange for more American jobs. President Trump smartly withdrew the U.S. from the pact that included other countries such as Japan, Australia, and Vietnam, among others. So bad was the secretly negotiated agreement that only New Zealand reportedly ultimately ratified the TPP.
It has been widely reported that high-ranking Chinese officials bankrolled a company that made Biden’s son wealthy. Biden has called for a return to the TPP that would decimate the steadily rebounding American manufacturing base. Of course, his family would be back in the good graces of China.