Even The New York Times couldn’t deny that last week’s jobs reporting was nothing short of stellar. “New Milestones in Jobs Report Signal a Bustling Economy” they headlined one piece. Another’s read, “We Ran Out of Words to Describe How Good the Jobs Numbers Are.”
Unemployment reached an 18-year low, edging down to 3.8% with 223,000 jobs added in May. (RELATED: Breaking: Unemployment Rate Reaches 18-Year-Low). Another economic survey, released recently by the National Federation of Independent Business, found that this economic strength is putting upward pressure on wages. 35% of small employers reported an increase in wages. The report also found that 23% of business owners now cite the difficulty of finding qualified workers as their “single most important business problem.”
That’s certainly a much better problem to have than the reverse — workers having difficulty finding a job — which is exactly what Hillary Clinton predicted would happen if Trump’s tax cuts were passed. During the third presidential debate of the 2016 election, Hillary cited an analysis that claimed Trump’s tax plan would kill 3.5 million jobs. “Donald’s plan has been analyzed to conclude it might lose 3.5 million jobs. Why? Because his whole plan is to cut taxes, to give the biggest tax breaks ever to the wealthy and to corporations, adding $20 trillion to our debt, and causing the kind of dislocation that we have seen before, because it truly will be trickle-down economics on steroids.”
She continued: “So the plan I have I think will actually produce greater opportunities. The plan he has will cost us jobs and possibly lead to another Great Recession.”
Since the tax cuts were passed, the economy has added at least 1,037,000 jobs.
If Trump’s policies of tax cuts and deregulation accomplished that, it goes without saying that Hillary’s would’ve accomplished just the opposite.
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