business

U.S. economy grew at solid 3.1% rate in first quarter

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By MARTIN CRUTSINGER

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However, the impact of the tax cuts ... are expected to fade this year

I never can understand where people come up with this... If your taxes had been 50%, and the rate were cut to 25%, would the effects of that really wear off after a year? Why? By what dynamic?

The opposite would appear true. Because just like the year of the tax cut, the year after that you'd still have more money than would otherwise have been the case. 

Indeed, given that you get to keep more of the money earned, you have a strong incentive to seek somehow to earn more. Maybe through simple higher productivity - acheived by obtaining more skills or switching to a different job where you can make better use of the skills you have. This is where higher economic growth in the wake of significant tax cuts stems from, I believe.

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There are many elements of anxiety, but let's share the joy.

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Looks like MAGA is definitely morphing into KAG. God help the Democratic challenger who tries to counter these numbers with woke intersectionality and abortion rights for transgender women.

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With so many people working at low wages & long hrs without hope, I wonder , how america economy grew ???. Pls enlighten me.

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With prosperous economy and low unemployment rate, for any other sitting President, a re-election would be a slam dunk. But Trump's biggest problem is about 6 of 10 Americans don't like him - even Trump's internal pollsters that were leaked showed that

"Trump Fires Pollsters After Leaked Internal Polls Show Him Losing To Biden In Key States"

https://upolitics.com/news/trump-fires-pollsters-after-leaked-internal-polls-show-him-losing-to-biden-in-key-states/

So, the big question is: can voters set that dislike aside vs. they don't like him enough regardless of the economy

The fact that the President’s approval rating has held steady (which is to say, has held steadily low at around 40%) — no matter when improving economic conditions — suggests that the economy is not swaying people's minds

So Trump's expected strategy is to get voters to also dislike his opponent as much as they dislike him - because if they're both disliked by the voters, then that's when he can use the economy as the tie-breaker

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The United States keeps an advantage in preparation for the cold wave from Germany. Probably this cold wave seems to be the largest in the past.

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Economists at Capital Economics are forecasting that growth will slow to 2.3% this year and even further to 1.2% in 2020

Great news for the Democrats! But wait - Trump's meeting with Xi shortly... what if Xi decides to get with the program and sign a trade deal over the coming months and the tariffs come off and the U.S. economy really takes off?

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