Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
Did Trump Cause the Improved GDP Growth -- Ray and I were published in the American Thinker this morning
Here's the link:
Did Trump Cause the Improved GDP Growth?
By Howard Richman and Raymond Richman
Real GDP rose by 3.0% during the second quarter of 2017, the fastest quarterly rate in over two years, according to data released on Wednesday by the Commerce Department. Did President Trump cause the accelerating economic growth?
The answer is yes. The rapid growth was led by a surge in business fixed investment (purchases by businesses of new tools and structures). If not for that surge, Real GDP would have only grown by 2.2%. The following table shows the contributions of the different types of spending upon economic growth during the second quarter:
How the Democrats and Anti-Trump Republicans Seem Bent on Creating a Fascist USA
Trade Deficits vs.Income Tax Reform to Stimulate Economic Growth
The principal cause of the anemic growth of the U.S. economy in recent decades has been the chronic trade deficits with the rest of the world which have cost millions of U.S. manufacturing jobs and converted the U.S. from the world’s leading creditor to the world’s leading debtor. Multi-country trade agreements encourage American corporations to invest in countries with low corporate income tax rates and to export the goods they produce to the U.S. duty-free. The government’s first task is to bring our trade into better balance. Tax reform will not do it. As the U.S. Gross Domestic Product statistics show, the US international trade deficits averaged about 3 percent per year in recent decades. If trade had been in balance, the growth of the GDP would have been nearly five percent on the average instead of one to two percent. ...
What Income Tax Reforms Are Needed?
A Comment on Recent News
Congress voted sanctions against Russia nearly unanimously for interfering in the U.S. presidential election of 2016 and voted restrictions on Pres. Trump’s ability to lift those sanctions. Congress cannot do much about curbing Russian interventions in the internal politics of other nations. But Congress is hypocritical because the CIA has been interfering in other countries' elections since the middle of the last century, including most recently in the Ukraine....
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