Argument:

Trump and his tax cuts are good for my 401k:

Not to mention, the economy is thriving under Trump. We need four more years to continue our economic growth! 

Rebuttal:

  • Trump says that he’s the one who can get businesses going by urging states to reopen. But his failure to prepare for and quickly respond to Coronavirus has only prolonged the economic harm of shut downs. By downplaying the seriousness of the outbreak, he created worse conditions that are still forcing shutdowns across the country.
  • While the stock market has been good for people who can afford to invest in it, it doesn’t necessarily mean the economy is doing well. Economic projections for the next few decades have been drastically downgraded, with the Congressional Budget Office expecting a paltry 1.6% growth for the foreseeable future.
  • The multiple times that the market has suffered extreme losses under Trump show the dangerous volatility of having unstable leadership. His erratic behavior and inability to address real problems can send the market into tailspins. That unpredictability is a bigger danger to your 401k than a Democrat ever will be.
  • Trump’s economy has been built on the backs of our children, raising our debt even higher, and borrowing even more from China. Trump added more than $3 Trillion to the debt even before Coronavirus hit, and the debt is expected to exceed our GDP next year.  Even his tax cuts are being funded by China and putting the true cost on future generations. 
  • Trump’s signature tax plan isn’t even permanent, at least not for you or me. The income tax cuts expire in a few years, raising your taxes in order to pretend like the plan was actually paid for.
  • Trump’s claims that he’s opened new factories are routinely false, like the time he claimed to open an Apple factory that has existed since 2013, or his recent rally in Michigan where he falsely claimed he created a lot of “car plants.”
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