President Donald Trump, in his four years in the White House, has left a footprint that is going to be tough for any future president, including President-elect Joe Biden, to match no matter how long they stay in power.
And last week the president and his team revealed his list of accomplishments, laying the gauntlet down for Biden.
“Before the China Virus invaded our shores, we built the world’s most prosperous economy,” the statement began.
The statement said that “America gained 7 million new jobs – more than three times government experts’ projections, Middle-Class family income increased nearly $6,000 – more than five times the gains during the entire previous administration, The unemployment rate reached 3.5 percent, the lowest in a half-century.”
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The statement also touted how the economic benefits of the Trump administration helped people of all demographics and backgrounds.
“Unemployment rates for African Americans, Hispanic Americans, Asian Americans, Native Americans, veterans, individuals with disabilities, and those without a high school diploma all reached record lows,” it said. “Unemployment for women hit its lowest rate in nearly 70 years, lifted nearly 7 million people off of food stamps, poverty rates for African Americans and Hispanic Americans reached record lows, income inequality fell for two straight years, and by the largest amount in over a decade, the bottom 50 percent of American households saw a 40 percent increase in net worth, wages rose fastest for low-income and blue collar workers – a 16 percent pay increase (and) African American homeownership increased from 41.7 percent to 46.4 percent.”
The 401K plans of Americans were also positively impacted as “the DOW closed above 20,000 for the first time in 2017 and topped 30,000 in 2020 (and) the S&P 500 and NASDAQ have repeatedly notched record highs,” it said.
The statement said that the middle class also benefited from the tax cuts put into affect by the administration. “Passed $3.2 trillion in historic tax relief and reformed the tax code,” it said.
Trump “signed the Tax Cuts and Jobs Act – the largest tax reform package in history, more than 6 million American workers received wage increases, bonuses, and increased benefits thanks to the tax cuts, (and) a typical family of four earning $75,000 received an income tax cut of more than $2,000 – slashing their tax bill in half.
The statement went on to list many more accomplishments and it is a challenge that will be extremely tough to meet for Biden.