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ICYMI: President Trump's Economic Plan is Delivering for the American People

- July 13, 2017

Introducing MAGAnomics
Wall Street Journal 
Mick Mulvaney
July 12, 2017


"... The focus of MAGAnomics is simple: Grow the economy and with it the wealth of, and opportunity for, all Americans. It does that by focusing on fundamental principles that made the U.S. economy the greatest engine of prosperity in the history of the planet:

  • "Tax reform ... Fundamental to that is encouraging capital investment. We’ve seen for decades that growth in private-sector jobs correlates to growth in private business investment. When businesses invest in new plants and equipment, they tend to hire more people, who produce more …
  • "Curbing unnecessary regulation. Much like commonsense tax reform, rolling back unnecessarily burdensome regulations will reduce the cost of doing business. When regulations increase costs, they decrease returns, leaving less capital to invest. If they are too burdensome, they discourage any investment at all, as businesses choose to forgo opportunities ...
  • "Welfare reform. Growth also depends on the size of the workforce. Although the labor pool is aging, we are also seeing people who could be working but are staying home. We badly need them to go back to work. We believe that most want to do this but simply lack the opportunity …
  • "Smart energy strategy. The president’s “all of the above” energy strategy expands the economy’s growth potential. Yes, it puts coal miners back to work. But cheaper, cleaner, more abundant energy will also increase investment and employment across dozens of industries, from chemicals to automobiles …
  • "Rebuilding America’s infrastructure. The president’s plan to rebuild America’s infrastructure will create immediate job opportunities. More important, it will boost the long-term productivity of American industry …
  • "Fair trade for America ... Ensuring that other nations do not undermine our economy by unduly taxing our products, by dumping products here, or by stealing our intellectual property is essential to our economic future.
  • "Government spending restraint. When government spends a lot, it takes money away from private investment. And private investment is always a more efficient allocator of capital than government. We will continue to fund critical government functions, including a social safety net that gives people the comfort of knowing they will not be overlooked while encouraging them to be more willing to take chances …

"MAGAnomics is for everyone, but especially for those who left for work this morning in the dark but came home after their kids were asleep. It’s for those who are working part-time but praying for a full-time job ... This president hears you. He knows America’s greatness doesn’t spring from higher taxes or unnecessary regulations or broken welfare programs …

"If we enact the president’s broad agenda—if MAGAnomics is allowed to work—we will have set the stage for the greatest revival of the American economy since the early 1980s. It will remind people—including those who have forgotten, or those who don’t want you to remember—what a great America means. That is driving everything we do …"

To read more, click here.


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