“To accomplish only that much, Mr. Trump needed one of the largest tax cuts in history, a cut that grossly favored business and wealthy Americans while exploding our deficit. Almost 85 percent of the benefits of the bill went to businesses and to those with incomes above $75,000.

Americans in the top 20 percent of incomes received a 2.9 percent increase in their after-tax incomes while middle-class Americans got just a 1.6 percent increase. Businesses responded to the cuts by raising dividends and share buybacks to record highs while an initial increase in capital investment quickly faded.

The Trump administration claimed that the legislation would pay for itself through increased economic activity. That, not surprisingly, turned out to be another lie. The deficit jumped to more than $1 trillion last year from $681 billion in 2017, the calendar year before the tax cut.”

Did he even read what he wrote? Since when are tax cuts supposed to be retroactive? Seriously, when was ANY tax cut passed that went back one or several years in the past and cut taxes? That would be in the realm of NEVER. 

But that’s fine. You see, even worse than the tax cuts… that pesky virus thing! Let’s hit the high points shall we?

A. President Trump handled everything badly

B. Economy contracted by 10.6 percent

C. Unemployment rose to 14.7% with 22 million jobs lost

D. Minorities, especially Blacks were hit the hardest

E. Job growth in July was less than in June

F. More layoffs and furloughs coming soon 

G. More businesses will close permanently

I could go on, but you get the gist of Steve’s point. It’s all Trump’s fault that this is happening to us!

Except for a couple of things. 

The states that continue to mandate arbitrary rules and lockdowns. 

In Colorado, Polis dictated that bars could only stay open until 10pm, but just recently moved that to 11pm. Meanwhile, there are over two hundred restaurants around the state that have closed permanently. In my community, there are seven businesses just along the Main Street that have also closed permanently. 

In New York City, De Blasio is working overtime to kill the restaurant industry. In-house dining at restaurants? We have no plan declares De Blasio! 

““It’s jaw-dropping that there’s no plan for the more than 25,000 eating and drinking places and 300,000 workers in our city,” Rigie said.

“If there’s no plan to reopen in the near term while the rest of the state is open indoors, what’s the plan to support New York City’s small businesses and workers while they’re shut? Where’s the rent relief?” Rigie asked.”

Arbitrary rules by Governors who would rather blame Trump for all their woes instead of realizing that it has been THEIR mandates, THEIR rules, and THEIR temper tantrums that are killing the local economies.

Another thing not mentioned in Rattner’s cute editorial?

The Riots. 

Will Milwaukee ever recover from the riots that have decimated a significant portion of the downtown area and destroyed several hundred businesses? It will take decades to do so I’m afraid. Chicago is just as bad.

Portland is now into nearly ninety days of destruction and looting in the downtown area. It is spreading to the suburbs as well. Portland isn’t alone, Overland Park Kansas is seeing rioters tromp through neighborhoods demanding free crap and reparations for imaginary woes. 

#BLM Overland Park, KS#Protests pic.twitter.com/zDo3JhGyhs

— Ophelia (@BarnBurnerBaby) August 22, 2020

A Quiznos in downtown Denver, run by a family for twelve years, was trashed this last weekend for no good reason.

A car dealership was set on fire last night in Kenosha, Wisconsin. 

Up close look at the car dealership fire set by BLM arsonists in Wisconsin pic.twitter.com/Mv1CC7htiD

— Drew Hernandez (@livesmattershow) August 24, 2020

Yet Steve goes on Morning Joe this morning and gravely opines that our economy is in a shambles. 

The thing is, the recession we are in COULD end this year or at some point after the first of 2021.

The U.S. economy will emerge from the recession in the second half of this year or at some point in 2021, according to a National Association for Business Economics survey https://t.co/u40qyCrupN via @markets

— Adam Son (@adamtson) August 24, 2020

The economic issues we are dealing with have NOTHING to do with President Trump, and everything to do with how states have mishandled the lockdowns. The states suffering the most should blame their state and local leadership for the economic hardships they are facing. 

Quick question: Did Steve have anything to say about Joe Biden’s promise to totally shut the economy down if scientists tell him to do so? Not that I can tell.

You know what would HELP our economy recover?? Two things:

End the arbitrary lockdowns by power-hungry governors.

Shut the riots and looting down HARD before more businesses get destroyed.

Welcome Instapundit Readers!

Feature Photo Credit: Mask Money by jewhisperer via Pixabay, cropped and modified