Right wing economic ideas always cause most people pain in the end
All the facts show that
Someday everyone will realize it even while evil entities like fox lie about it
So-called right wing repukes have always been a disaster on the domestic and global economy at adding trillions to the national debt and waging war on the worker while hopping in the whore bed with their corporate partners and other special interests groups at giving them huge tax breaks and enabling their abuse against the working and middle class and less fortunate. This while GOPers give the working and middle class the shaft with huge tax hikes in order to offset the effects of their corrupt graft:
U.S. economic performance under Democratic and Republican presidents
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Historically, the United States economy has performed better on average under the administration of Democratic presidents than Republican presidents since World War II. The reasons for this are debated, and the observation applies to economic variables including job creation, GDP growth, stock market returns, personal income growth and corporate profits. The unemployment rate has fallen on average under Democratic presidents, while it has risen on average under Republican presidents. Budget deficits relative to the size of the economy were lower on average for Democratic presidents.[1][2] Ten of the eleven U.S. recessions between 1953 and 2020 began under Republican presidents.[3]"
https://en.wikipedia.org/wiki/U.S._economic_performance_under_Democratic_and_Republican_presidents
Data: The GOP tax cut plan is tilted to the rich | Opinion
With a startling $9.2 billion budget surplus, legislators in St. Paul are locked in a debate about what to do with the money. Gov. Tim Walz and the DFL have proposed a mix of spending and one-time rebates, while Republicans have their eyes set on permanent tax cuts. The centerpiece of the GOP tax cut proposals is a $2.8 billion plan to slash the tax rate on the lowest income bracket nearly in half, from 5.35 to 2.8 percent. They have also proposed eliminating all taxes on Social Security.
Republicans have attempted to sell their ideas as a benefit to the working class, but the reality is that they will exclude Minnesota’s lowest-income residents, and the majority of the money will go to high-income taxpayers. Why is this the case, and to what extent do these ideas benefit the rich over the poor?
Let’s start with the income tax cut.
Because Minnesota exempts the first several thousand dollars of income from taxation, most of Minnesota’s lowest-earning taxpayers will not benefit from the Republican plan. Estimating based on the latest available IRS data, well over 500,000 working households will be excluded from the Republican tax cut entirely, while many more will receive a smaller cut because they do not earn enough to receive the maximum. The table below shows how much income is needed to receive any benefit from the GOP tax cut, as well as how much is required to receive the maximum."
https://minnesotareformer.com/2022/...e-gop-tax-cut-plan-benefits-the-rich-opinion/
THE COVID MONEY TRAIL
Republican states are trying to use federal covid aid to cut taxes
https://www.washingtonpost.com/us-policy/2022/07/05/republicans-tax-cuts-stimulus/
The top 20 states with the largest gdp and economic growth are not a majority of red states but mainly blue or purple states (on average a even margin of democrats and republicans thus purple):
List of U.S. states and territories by GDP
This is a list of U.S. states and territories by Gross Domestic Product (GDP). This article presents the 50 U.S. states and the District of Columbia and their nominal GDP at current prices.
The data source for the list is the Bureau of Economic Analysis (BEA) in 2021. The BEA defined GDP by state as "the sum of value added from all industries in the state."[1]
Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population.[2]
Overall, in the calendar year 2021, the United States' Nominal GDP at Current Prices totaled at $23.00 Trillion, as compared to $20.89 Trillion in 2020.
The three U.S. states with the highest GDPs were California ($3.36 Trillion), Texas ($1.99 Trillion), and New York ($1.85 Trillion). The three U.S. states with the lowest GDPs were Vermont ($36.1 Billion), Wyoming ($41.6 Billion), and Alaska ($55.0 Billion)."
https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP
