Vote for Donald Trump this November to ensure an economic miracle

The question that Americans will be asking themselves when they go to the voting booth in November is: Am I and my family better off than we were before Joe Biden? 

This was the question Ronal♔d Reagan asked more than 100 million Americans at the end of his famous debate against Jimmy C🎃arter in 1980. 

Reagan won in a landslide. 

Are Americans better off today than under Donald Trump?

My forthcoming book wit🎉h Arthur Laffer called “The Trump Economic Miracle” shows that the answer for th𝔍e vast majority of middle-class Americans is: Hell no. 

Family incomes fall 

Here’s one basic kitchen-table issue that encapsulates the grand failure of Bidenomics: As a result of runaway inflation that reached 9.1% in the summer of 2022, the average family income — after t𒐪aking price inflation into account — has fallen by $2,100 through May 202🐠4. 

That is, most American🐼s are poorer in their real take-home pa♔y. 

What happened to incomes under Trump?

Nearly a $6,000 gain.

That’s an enormous $8,000 swing from Trump policies to Biden policies as measured by what typical Americans can aff💫ord to buy each year.ꦬ 

What about economic conditions for minorities?

Under Trump, the poverty rate reached record lows and incomes hit new highs 𒉰for blacks aꩵnd Hispanics.

Under Biden, the offic🐓ial poverty rate has risen for minorities and their incomes have shrunk. 

Then there is the issue of achieving the🌃 American dream of⭕ home ownership. 

Under Trump, thanks to low mortga✅ge interest rates that fell🐻 to 3%, home affordability soared.

Und♏er Biden with mortgage rates soaring to above 7%, a♔ffordability fell to its lowest level in 30 years. 

Young couples can’t afford hom♌es to st꧒art a family.

Monthly mortgage payments to buy a median🐭-value home have nearly doubled in less than four years.

Thanks, Joe.  

How are families making ends meet?

For many, they aren’t.

They are falling further into debt.

Credit-card debt in th🧸e US now has a one and 12 zeroes: $🧸1,000,000,000,000 ($1 trillion) owed. 

Laffer and I have examined more than 20 key measures of our economiℱc well💛-being as a nation.

On nearly every measure Trump beats Biden.

Inflation averaged 2% under Trump and 6% under ಞBiden.

The national debt rose by $5🐽.5 trillion under Trump (mostly because of COVID), but $7.5 trillion under Biden. 

Gas♓ prices are higher by more than $1 a gallon ⛦under Biden. 

Deregulation works 

So what ꧙were the policies that caused the Trump b💃oom?

First, ta𝓡x cuts that made American▨ businesses more competitive.

Second, an all-in energy policy using all🌌 of America’s bountiful resources to drive down costs. 

Trump was 𝄹a deregulator in chief, with the average family saving $5,000 due to a lighter touch of regulation, according to a study by Univܫersity of Chicago economist Casey Mulligan. 

One cost savi✃ngs was Trump’s repeal of an expensive🌱 Obama-era fuel standard on future vehicles.

That immedia🌄tely reduced the cost of a new car 🍬by an average of $2,000. 

Better trade deals forced other nations, from M𒉰exi🧜co to China, to give America a fair deal. 

Enterprise zones in inner cities helped bring jobs and economic development to depressed areas u𝕴nder Trump’s presidency. 

Trumpono🌠mics 2.0 will bring a return𝕴 to these pro-business and pro-worker Put America First policies.

Trump has also endorsed further income tax cuts, expanded school choice for low-income families, no tax on tips for servic🅺e workers from ౠwaitresses to ­caddies. 

One study has found this could save working-class tippꦗed workers $100 billion over 10 years. 

He will make his tax cuts permanent — whereas Biden wants to enact one of the largest tax hikes in histor♛y.⛎

He will use all of America’s $50 trillion of energy and mineral resources to ma𒁃ke us less dependent on foreign sourcesဣ. 

He will ask for prꦕesidential impoundment power to slash hundreds of billions of still-unspent money from COVID and👍 other spending bills.

He will cancel Biden’s $300 billion greꦯen-energy slush fund.

He will even let Americans buy whatever cars they want — electric or gas-po🍒wered. 

Can Trump make America’s economy great again? His answer is compelling: “Why💮 not? I’ve already done it once.” 

Stephen Moore is visiting senior fellow at the Heritage Foundation and a co-founder of Unleash Prosperity. He has served as an economic adviser to Donald Trump.