Donald Trump and USA economy

Donald Trump and USA economy

Donald Trump and USA economy

The American economy depends on its president, and now, Donald Trump in charge. What did he promise to American people?

He promises to cut the taxes in this way: those who earn under $29,000 – 0%, those few after $50,000- 12 % and those over $150,000- 33%.

He encouraged American citizens to buy more made in America products that will make Mexico decrease in economy. He wants to reduce the federal tax from 35% to 15%, to eliminate the “Death Tax” and Donald Trump wants to put more Americans to work and reduce the immigrants.

He also has promised to make new 25 million jobs, and Obama created almost 14 million jobs and increase, the economic growth of 4% (it is 2,4%).

Bill Clinton who was the 42nd President of United States from 1993 to 2001 and he was one of the best U.S.A Presidents. He created more than 22 million jobs and reduced unemployment to 4,0% from 7,5%, so Donald Trump has to fight to surpass him. He saved America because this country had a deficit of $290  billion and what Bill Clinton did was awesome because he brought a budget surplus of $129 billion.

But, he did these with a lot of sacrifices because he increased the tax rate for people who earn more $115,000 per year to 36 percent from 28 percent. Bill Clinton raised the tax per gallon, but eliminate the taxes for passing between United States, Mexico and Canada.

But, in fact, he created more jobs than any other president.

George Walker Bush was the 43rd President, just after Bill Clinton. He increased the U.S.A. debt with $6 trillion. But, he didn’t decrease the unemployment rate. He was in two wars, and that made the economy pass through bad moments.

America passed through 2007-2008 financial crises, and it was the worst for everyone because it was a global financial crisis.

Banking in the United Stated depends on both of government: the federal and the state one. For example, Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Wells Fargo are the most powerful and largest banks from America. Those banks help a lot economy of the America.

Almost each president tried to increase the health care, and most of them did it. Donald Trump wants to make health care cheaper and better, and we are waiting for it.

Everyone know that the United States of America is the second most powerful and largest trading nation.

America has significant export, and import businesses and a lot of people come here to develop new business. A great example for that is the Wall Street that become the most powerful economy power of America. On that street many important corporations have their headquarters and because of that în time many and many people wanted to develop their businesses here. It is located în New York City and that is one of the reasons why New York is so popular.