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Bennett Carpenter's avatar

What basis do you have for this claim: "Trump’s flurry of activity, at least so far, has made him more popular, not less so, with the American public"?

Aggregate polling data shows that Trump's approval rating has declined—and his disapproval rating risen—since taken office. See e.g. here: https://projects.fivethirtyeight.com/polls/approval/donald-trump/

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Tony Wikrent's avatar

"When we got the debt under control, taxes went down." Yeah, they went down too much. The Bush tax cuts and the Trump tax cuts "added $10 trillion to the debt since their enactment and are responsible for 57 percent of the increase in the debt ratio since 2001."

https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/

In addition, the evidence is crystal clear that tax rates on the rich and on corporations that are too low breed financial speculation and corporate disinvestment.

"If you look under the hood of the industrial economy, you can see why there is this counter-intuitive relationship between tax rates and economic growth . With high taxes, the only way to retain the bulk of the wealth created by a business is by reinvesting it in the business -- in plants, equipment, staff, research and development, new products and all the rest. But if tax rates are low, then there is more incentive to pull the wealth out, by declaring it as profits that are taxed at what turns out to be too low a rate. In other words, low taxes create an incentive for profit taking, not for business expansion and capital investment.

"This in turn creates an incentive for short-term horizons in business planning. If you’re going to be taking all the profits out of a company, and take home a few million a year, why bother to reinvest anything in the business? You’re going to be rich, and never have to work again, even if the business goes bust."

https://real-economics.blogspot.com/2017/01/why-republican-tax-cuts-always-cause.html

Finally, it is clear that the tax cuts of Reagan, Bush, and Trump have allowed a new oligarchy to seize power, creating massive political and social dysfunction. No one should ever be allowed to be so rich that they can buy as much political influence as the rich do today. All the classic texts of civic republicanism, including the Bible very explicitly, warn about the dangers to a republic of allowing the rich to achieve political control.

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