President Trump is on track to eclipse Obama’s entire gains on the Dow, as it has gain 44% of its value in less than 15 months. To give Obama his due, from Election Day 2008 to Election Day 2016, the Dow increased from $9625.28 to $18,332.74, a 90.46% increase.
President Trump has nearly half that same growth in just over a year. Should this rate of increase continue, Trump’s one term will have been better for the Dow Jones Industrial Average than both Obama terms combined.
Given the recent enactment of the Tax Cuts and Jobs Act that lowers the corporate tax rate to 21%, a 40% cut from a 35% rate, there is no reason to believe the market will peak anytime soon. That, in conjunction with regulatory rollback behind the scenes, is fueling the optimism that leads to growth.
The media can sell scandal and sordid stories, but money talks. No amount of bad press can negate economic prosperity, and that’s a problem for the left.
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