The real question: Will Trumps tax cuts benefit a President Biden? Reagan’s cuts in 81’ benefitted Clinton 12-20 years later. Clinton gets the credit. Clintonomics-I loved them.
RE: The real question: Will Trumps tax cuts benefit a President Biden?
Depends on what a (God forbid ) Pres. Biden would do. If he leaves it alone and doesn’t listen to Bernie and AOC , the economy will naturally recover. If he doesn’t, expect a turn for the worse.
The U.S. boom from 1994-2000 was driven by two simple things. The combination of Clinton’s tax hikes in 1993 and the GOP tax cuts of 1995-98 left us with a combination of high income tax rates and very low capital gains tax rates. This gave investors a huge incentive to flock to capital assets like real estate and shares in U.S. companies.
It all came crashing down in 2000 because people literally ran out of sound investments to pursue ... and therefore began pouring money into dot-com stocks that had no assets of value and never made any money.
Newt and the Contract for America deserve at least half of the “Klinton Boom” credit.