Over the last four years, we have had the opportunity to live through our country’s most prosperous period in the post-Second World War era. Of course, all this changed when a silent enemy from China invaded our shores. President Donald J. Trump took decisive action shutting down borders, but the virus was already on the loose. It is important to remember that just prior to the COVID hysteria took the front stage, America's economy was humming along beautifully with very little unemployment - in fact, those in financial circles call sub 4% unemployment “full employment.”
Even with omnipresent COVID woes, the economy is starting to rebound. Electing Joe Biden instead of giving President Trump four more years would set us back economically and financially.
Polling Implies Voters Trust Trump, Republicans on the Economy. Despite what commentators say, voters are shown to trust Trump and Republicans over Biden and Democrats on the economy. According to an August 2020 Pew Research Center’s “Election 2020” report, the economy is the top issue for voters (79 percent).
And more importantly, that same article revealed registered voters award economic advantage to Republicans—49 percent to 40 percent for Democrats—on the issue of handling the economy better.
According to a recent Economist/YouGov poll, 57 percent of respondents polled approve of President Trump’s executive orders regarding COVID19 economic relief. That same report found 81 percent of Republican respondents approved of them, while an impressive 40 percent of Democrat respondents did. Wow!
A recent CBS poll found an overwhelming amount of Republicans felt the economy is improving and faring better under Trump. And even the New York Times, of all places, noted Trump’s numbers remain durable for obvious reasons.
We Need a Leader, Not a candidate that will slam the brakes on our economy. Working in finance, I can confidently say with certainty America is better off with Trump than Biden.
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During the past few years, jobs were added monthly, lower-income families becoming some of the main beneficiaries. In addition, minority unemployment was at historic lows according to data published from the BLS. This can be said for virtually any cohort in the country. Industry was booming, manufacturing jobs returned to our shores. Large corporations repatriated hundreds of billions of dollars that can now be invested domestically.
But why is this important? It's simple: That economic engine didn't just happen by chance; it was possible with Donald J Trump as chief executive of the land.
Burdensome regulations were slashed, optimism returned (a big contrast to Obama who seemed to scold the country down), and through working with Congress, taxes were completely overhauled. Even these strong policies could not prevent a slowdown in economic output with the pandemic raging. However, it’s critical to remember what things were like before the Chinese virus hit our shores.
In fact, the strong recovery we are witnessing is a testament to how well our economy was doing for the average American pre-COVID. Stronger wages and lower taxes left the American household with more cash in their savings. Disposable income was up powering one of the most impressive consumer-driven economies in history - arguably the best in the post-war era.
That can happen again if Trump is at the helms of the country for another term. Biden’s Economic Plan Would Be Disastrous for Recovering Businesses. It would handicap a business' ability to grow and bring employees back to work.
The Trump administration’s prosperity-minded policies have prioritized America under an America-first banner. Through that framework, the United States leads the world in economic recovery. No nation got back to work faster or more earnestly than our nation.
Undoubtedly, the Payroll Protection Plan (PPP) kept thousands of Americans off the unemployment line. However, even with such a program, jobs have been lost. Despite that, many Americans are being rehired as our economic engine revs up once more. Companies are coming forward with announcements that they anticipate being back to pre-COVID levels in early 2021. This is exciting and worth celebrating!
But even with the PPP and the quick rehiring of Americans, there are still millions unemployed, with the official unemployment rate just under 10%. It's not a sustainable situation. The question becomes this: what more can the federal government do? President Trump has taken bold executive action to keep those unemployed afloat while giving a holiday to the payroll tax that hurts both the employee and employer.
It may not target the unemployed directly, but it does provide an incentive to get back to work knowing there's ~8-12 raise~ waiting for you. Stimulating our consumer and service-driven economy is the surest way to return us back to some form of normalcy.
Any major economic shock is going to create a long period of uncertainty. As far as recessions go, this may have been the most dramatic in scale and short duration, but life seems to be improving across America. We were well-positioned and we've seemed to weather the storm.
Risk still abounds, so it’s critical for Donald Trump and his policies continue for four more years. Our recovery is fragile and sensitive to consumer sentiment. Fortunately, President Trump exudes the kind of optimism necessary for economic recovery and growth. In contrast, the proposed policies coming from the Biden-Harris ticket would completely knee cap the recovery in financial markets and increase the load on the backs of American workers. We must not let this happen.
Biden’s proposed regulations and tax proposals will strangle innovation and drive Americans with significant wealth to rethink their domicile and place of business.
The choice is stark yet clear: if you want to see America return to its high-flying pre-COVID days, the choice is clear. We must vote to give Donald Trump four more years. We cannot risk handing Democrats the keys to Congress and the White House.
Their anti-capitalist, anti-small business policies will adversely affect Americans of all socio-economic backgrounds.
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