Hillary Clinton will continue Barack Obama’s failed economic policies of stimulus, debt, high taxation and regulation. He is the first president to never hit 3% economic growth.
Charles Payne explained how Trump’s plan brings back “velocity of money.”
“So, here’s the thing and it’s right off the bat that you have to love about the plan; lower taxes, anyone watching, it essentially means that when you go to work, you get to keep more of the money you earn. You know, there is an interesting term that we don’t talk about a lot, it’s velocity of money. And — and in layman’s terms it’s pretty simple; if you take $5 and go across the street and buy a couple of hot dog from a hot dog vendor, he takes that $5 and buys a scarf from a scarf vendor, that person goes in McDonald’s and buys two cheeseburgers, that’s the same five bucks ha circulated through the economy.”
“We have zero velocity of money right now. Why? Well on the business side, businesses are afraid of these high taxes and regulations. And on the individual side people’s wages aren’t going up. So why would you spend money like that? Lower taxes unlocks that. Lower taxes unlock that. Then on the regulation side, we’ve got to get rid of them.”
Barack Obama has passed 20,642 new regulations. People are committing crimes every day that they don’t even know they commit. The cost is over $100 billion annually for these regulations and the costs will increase exponentially.