President Trump held a press briefing to celebrate job numbers that have defied expectations, warning that a “bad President” who wants to raise taxes could kill momentum.
Statistics released on Thursday show the American economy gaining 4.8 million jobs in June while the unemployment rate dropped a remarkable 2.2%.
The staggering economic numbers – the largest one-month job gain in U.S. history – included another record 2.8 million jobs for women and 356,000 manufacturing jobs.
“These are numbers that are not numbers other presidents would have,” Trump boasted.
“The only thing that can kill it is a bad president or a president that wants to raise taxes,” he said, alluding to Biden. “You want to raise taxes, this whole thing, your 401Ks will drop down to nothing, and your stock market will drop down to nothing.”
— Donald J. Trump (@realDonaldTrump) July 2, 2020
Biden Has Promised To Raise Taxes
The fact of the matter is that President Trump is right on all fronts.
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During a virtual campaign fundraiser earlier this week, Biden, the presumptive Democrat nominee for president, told donors his plan to roll back President Trump’s tax cuts.
“I’m going to get rid of the bulk of Trump’s $2 trillion tax cut,” he announced adding, “and a lot of you may not like that but I’m going to close loopholes like capital gains and stepped-up basis.”
And while the President has reduced the corporate tax rate from 35% to 21%, Biden vowed to crank it back up to 28%, a sure-fire way to stifle job growth for a nation trying to lift itself out of the pandemic-induced economic crisis.
As for the market, Reuters reports that “some money managers … are already preparing for the possibility of a Biden victory by betting against the dollar and cutting their positions in U.S. stocks.”
Biden’s corporate tax rate increase, they write, would result in “driving investors out of U.S. stocks and hurting the dollar.”
Wall Street knows when the President is an economic killer, and Biden will certainly fall into that category.
President @realDonaldTrump: “The stock market is soaring with the best gains in over 20 years,” the only thing that can end it is a president that wants to raise taxes (Joe Biden) pic.twitter.com/C7ekeZghM4
— Team Trump (Text TRUMP to 88022) (@TeamTrump) July 2, 2020
Helping ALL Americans
Perhaps most important here,while Democrats engage solely in the politics of division, is having a proven economic leader in the White House means prosperity for all people.
As Fox Business Network analyst Charles Payne explains, it is “a lie” to say Trump’s economic recovery isn’t helping black Americans.
— RNC Research (@RNCResearch) July 2, 2020
Steve Guest, Rapid Response Director for the RNC, issued a statement on what the Trump campaign calls the “Great American Comeback.”
“This V-shaped comeback is further evidence that Joe Biden’s agenda of raising taxes and enacting more regulations with his far-left Green New Deal would put the brakes on our country’s recovering economy while destroying millions of American jobs along the way,” he said.
And everybody knows it.
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