To the editor:
Trump tax cuts promote capitalism.
The Trump tax cuts have put more money in hard-working Americans’ pockets and created the most positive environment for jobs, spending and growth in a generation.
Consumer confidence is the highest it has been since 2001, and corporate profits are up and they are hiring, giving out bonuses and wages are rising. The unemployment rate of 4.1 percent is the lowest since 2000. Wage growth year over year is up 2.9 percent in January, and consumer spending is up 3.8 percent in the fourth quarter — all due to individuals and corporations feeling better about their financial situation.
And this is all before people have even seen more actual money in their paychecks in February.
The Atlanta Fed predicts 5.4 percent GDP in the first quarter after never having annual GDP over 3 percent in prior eight years before Trump became president.
Lower corporate tax rates have gotten businesses expanding and hiring. This has created a robust stock market which puts more money into people’s 401k’s and brokerage accounts, and this will create a wealth effect and spur further spending and growth.
The corporate tax cuts along with a massive reduction in regulations has created a more positive business climate and helped level the playing field around the world to allow them to be more competitive.
True capitalism is on full display as the federal government is getting out of the way, and hard-working Americans and businesses are the beneficiaries by having more money, and they are spending it.
Tony Gregory
Greenwood
