Source; Another one sent from a friend..... known only as SNGLR
The dust of the Grand Wazoo (to borrow a phrase from Frank Zappa), better known as bidenomics, means Americans are now paying $8500/yr more for what they paid before biden took office, yet inflation-adjusted wages are stuck at 2019 levels.
The senile, nasty(watch he when he's unscripted) & corrupt biden says his approach is a better alternative to Reaganomics, which he constantly lies about when he refers to as trickle-down economics, or tax cuts for the rich, that the Reagan approach has never worked, and that his tax and spend policies will produce stronger economic growth.
That would be fine except--it's another biden/left-wing/democrat Lie !
The facts of history show that free market policies of low tax rates and limited spending have consistently led to stronger economic growth.
In the early 1980s, with the economy facing liberal/democrat's serious double-digit inflation and a recession, Reagan’s economic recovery program was enacted by Congress with bipartisan support. His tax cuts reduced tax rates across the board in every tax bracket and at the corporate level (just like the one's Trump had passed by the way). Every taxpayer received tax relief, and everyone benefited from the subsequent higher economic growth.
According to the Joint Tax Committee, 66% of the tax cuts went to middle-income taxpayers. Only 6% went to the top income level. More importantly, the Reagan tax cuts worked, producing the longest peacetime economic expansion since WW II. The tax cuts ignited an economic boom, with real GDP increasing 7.9% in 1983 and more than 8% in the first half of 1984. All told, economic growth averaged nearly 5% a year through 1988.
By comparison, real GDP has averaged only 2% a year since 2007, and an anemic 1.3% over the last year and a half. CBO is projecting the economy to grow at only 1.7% a year for the next decade.
Under Reagan, inflation dropped from double-digit levels to 4%. The unemployment rate was cut in half, and 20 million new jobs were created. Business investment soared, and real income grew at every level, manufacturing productivity grew at an average annual rate of more than 4%, nearly 50% faster than during the period 1948-1973, leading to higher wages, better jobs, and greater growth. By the end of Reagan’s 2nd term, the U.S. economy was 33% larger than when he took office.
Senator biden voted for the Reagan tax cuts, saying in a Senate speech that he has: “long advocated a reduction in the tax burden for individuals and businesses...the tax cuts would give a boost to the sluggish economy and encourage businesses to invest to achieve greater productivity.” Was joe lying then or now (or is he always lying, hmmm?).
We need to move away from the marxist-ideology flavored, hence economically flawed, bidenomics and put in place the Reagan pro-growth policies of low tax rates and spending restraint to unleash stronger economic growth.