Biden vs Trump Whose Economic Plan Is Better for You  Robert Reich_360P - video Dailymotion

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Biden vs Trump Whose Economic Plan Is Better for You  Robert Reich_360P

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00:00It just seems that the economy does better under the Democrats than the Republicans.

00:08Trump failed to deliver on his number one campaign promise.

00:12I will be the greatest jobs president that God ever created.

00:18Donald Trump is now the worst jobs president in American history.

00:23President Trump presided over a historic net loss of nearly 3 million American jobs.

00:30The worst jobs numbers ever recorded under an American president.

00:34This is no fluke. America's economy has almost always done worse under Republican presidents.

00:40A New York Times analysis found that since 1933,

00:44the U.S. economy has grown nearly twice as fast on average under Democrats.

00:50Now, Trump's defenders claim it's not his fault that the economy collapsed under his watch.

00:55It was the pandemic.

00:57We've done a great job. The press won't give us credit for it.

01:00But there are two big things wrong with this.

01:02First, the pandemic recession was as bad as it was because of Trump.

01:07His failure to lead with any national strategy

01:10You bought yourself some time and you didn't use it to prepare hospitals.

01:13Let me just, listen.

01:15Left America in chaos throughout 2020.

01:19Long after other nations had developed coordinated testing,

01:22tracing and social distancing plans that allowed them to reopen their economies.

01:28And secondly, even before the pandemic, Trump failed to deliver on his economic promises.

01:34As much as he liked to claim

01:36I built the greatest economy ever built anywhere in the world.

01:41It just isn't true.

01:43Long before the pandemic, America's job growth slowed under Trump.

01:48America added more jobs in President Obama's last three years than in Trump's first three.

01:54Even before the pandemic,

01:56most middle-class American households saw their incomes go down under Trump.

02:01Trump's major economic policy was cutting taxes on the rich and big corporations.

02:08He promised it would result in

02:10A $4,000 pay raise.

02:13How did that work out?

02:14Did you get a $4,000 raise?

02:17Republicans keep claiming that if we just cut enough taxes on the rich,

02:21the wealth will trickle down.

02:23But it never works.

02:25Ronald Reagan signs into law the largest income tax cut in American history.

02:31Wage growth slowed after Reagan's tax cuts for the rich and big corporations.

02:36As we stand here, Americans cannot find the jobs that they need to pay their bills.

02:41The Bush and Trump tax cuts didn't trickle down either.

02:45These giveaways to the wealthy came at the expense of investments in infrastructure,

02:51education, and health care,

02:53making life more expensive and difficult for everyone who isn't rich.

02:59They also exploded the debt and deficit.

03:02Reagan oversaw a 186% increase in the national debt,

03:08the biggest percentage increase in over 70 years.

03:11The Bush and Trump tax cuts that mostly benefited corporations and the rich

03:16are the main reasons why America's debt is growing faster than the economy.

03:21Republican presidents have led us into the three

03:24worst economic crises of the last century.

03:28And Democrats led us out of them.

03:30Republicans talk about running the country like a business,

03:34but they want to run it the way Trump ran his businesses,

03:38with massive debts,

03:40a string of failures,

03:43and payouts for the folks at the top,

03:45while workers get shafted again and again.

03:50Given Republicans' track record,

03:51why would any hardworking American put their financial security

03:56in the hands of a Republican president ever again?

04:08you

Biden vs Trump Whose Economic Plan Is Better for You Robert Reich_360P

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