The U.S. Labor Department announced that the U.S. economy created 261,000 jobs in October and that the unemployment rate came in at 4.1%. The business community said they were surprised because they expected the job numbers to be around 325,000. The Labor Department also said they revised September's job numbers from a loss of 33,000 jobs to a gain of 18,000 jobs after review.
This writer is of the opinion that the best way to keep the economy moving and creating jobs would be to pass a highway and infrastructure bill and not consider the Trump-republican Tax Plan scheme which will not be a job creator. American business is making good profits and doing well under the present tax system. Putting people to work taking care of the roads, bridges and etc., are good paying jobs and would boost middle class income. The Trump-republican tax scheme won't and for obvious reasons. President Obama and the democratic controlled congress cut taxes for the middle class soon after taking office in 2009 and then let part of the Bush tax cut for the wealthy expire. And contrary to the republicans pronouncements the economic expansion and job creation put America back on track and even reduced deficit spending. According to the tax policy center, the Trump-republican Tax scheme would give the top 1% of tax payers an annual tax cut or $175,000.00. Does any one really believe the top 1% will use that money to create jobs like Trump and the republicans are predicting and or go out and spend that money to boost the economy? The top 1% has the resources to do what ever they want to do with out the tax cut.
Republicans have a record, and a failed one when it comes to the economy, job creation and balancing the federal budget. The Trump-republican Tax scheme if passed as is will continue their failed policies. This writer believes time will prove that.
This commentary written by Joe Lorio
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