Economy

MAGA: Quality of Life and Optimism Soaring to New Heights

Trump called the U.S. economy "the envy of the world." A lot more Americans are agreeing.

Jordan Candler · Feb. 13, 2019

In his State of the Union Address last week, President Donald trump heralded the “thriving” U.S. economy, which he called “the envy of the world.” Some have called the president’s characterization of the economy hyperbole, but there’s a plethora of evidence proving he’s right: The economy is changing Americans’ quality of life and stimulating confidence.

The IBD/TIPP Quality of Life Index is one metric that backs the president. The index has been tabulated for 17 years now, and it “asks the public whether they think their quality of life will be better, worse or the same over the next six months,” as explained by Investor’s Business Daily. The full-span average is 56.2. By that measure, Barack Obama’s 53.7 rating was subpar. But the index balloons to 59.3 halfway through Trump’s first term. The most interesting variable is independents. According to IBD, “Their quality of life averaged 52 under Obama. It’s averaging 58.8 under Trump.”

This segues nicely into Gallup polling regarding Americans’ confidence. Gallup reports that “Americans’ optimism about their personal finances has climbed to levels not seen in more than 16 years, with 69% now saying they expect to be financially better off ‘at this time next year.’” This percentage is bested only by the 71% registered in March 1998. Moreover, “Fifty percent say they are better off today than they were a year ago.”

Clearly, the Trump economy isn’t limp like it was under Obama. And that’s due to a combination of heavy deregulation, impressive job creation, and tax reform. Amazingly, Democrats are trying to spin all of these — but especially tax reform — as detrimental. Presidential candidate Kamala Harris even asserted, “The average tax refund is down about $170 compared to last year. Let’s call the President’s tax cut what it is: a middle-class tax hike to line the pockets of already wealthy corporations and the 1%.”

Fortunately, most Americans are rejecting this snake oil because they understand more take-home pay as a result of less tax withholding means a lesser refund come tax filing. And their quality of life and optimism are the better for it.

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