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Former President Donald Trump focused on economic issues during a rally in Wisconsin on Wednesday and vowed to quickly turn around President Joe Biden’s inflationary economy.
It was the first time he made a campaign appearance outside of New York on a weekday since his criminal trial began on April 15 regarding the alleged falsification of business records to cover a payment of $130,000 to adult film star Stormy Daniels.
“When I’m in the White House, the Biden economic bust will quickly be replaced by the Trump economic boom,” Trump said to a lively crowd at the Waukesha County Expo Center. “When I left office, we handed Crooked Joe the fastest economic recovery ever recorded.
“The stock market was at a record high. The price of gasoline was $2 and even less than that a gallon. Think of that. We had periods of time where it was $1.57, $1.87; how does that sound to you? The 30-year mortgage rate was at a record low, the lowest ever recorded. Think of this, 2.65%, that’s what your mortgage rates were. Now you can’t get a mortgage. If you want to pay 8 or 9%, you still can’t get ‘em. And we had no inflation,” he added, according to Newsmax.
Trump, the presumed Republican nominee, criticized Biden’s recent budget proposal, which entails a $5 trillion tax increase, as reported by Forbes. This includes a hike in the capital gains tax to 44.5%, the highest rate in U.S. history.
“Biden has just declared if he gets four more years he will drench the middle class in the largest tax increases in the history of our country,” Trump continued at another point in his speech. “Vowing repeatedly that he will ensure that the Trump tax cuts, the biggest tax cuts in history — you know he says, oh, it’s for the rich.
“No, it’s for the companies that employ people, it’s for the middle class, and the people that benefited the most are lower-income people. And he wants them to expire. He never will replace them. I don’t think we’re going to let it happen,” he noted further.
The libertarian CATO Institute reported in March that between January 2010 and January 2021, the price index for food consumed at home increased by less than 18 percent over 11 years. However, since Biden assumed the presidency, it has risen by 21 percent in just three years. Overall, consumer prices have increased by at least 17 percent since Biden took office.
“Today, your inflation is so high it doesn’t matter,” Trump said. “If you make money it doesn’t matter. It eats you alive.” Trump then said Biden came in and unleashed mayhem on the U.S. economy like he unleashed mayhem on the border.
“Using COVID as an excuse, Crooked Joe Biden launched the greatest confiscation of middle-class wealth in the history of our country,” he said. “In three years, Joe Biden and his party stole trillions of dollars from hard-working Americans, and he gave it all to their cronies in Washington.
“They spent $2 trillion on the American Rescue Plan that didn’t rescue our country. … They spent another trillion dollars on their misnamed Inflation Reduction Act, and then they admitted it really wasn’t meant to reduce inflation,” he continued. “Joe Biden’s economic plan is to make China rich and America poor. My economic plan is to make America richer than ever before. That’s what we’re going to do.”
Trump has vowed to take extreme actions to secure the U.S.-Mexico border if he wins November’s presidential election. And that promise is supported by a key voting bloc — Latinos.
The most recent Axios-Ipsos Latino Poll shows that the percentage of Latinos who support erecting a border wall and deporting all undocumented immigrants has increased by at least 10 points since 2021.
According to the research, even among those who might have connections to immigration, Trump’s calls for increased border security and possibly his anti-immigrant rhetoric are having an impact.
The results also illuminate Republicans’ recent gains among Latinos and reflect the frustration that has elevated illegal immigration to the top issue for many Americans during election season.
If Trump wins back the presidency, he has vowed to increase border security and organize mass deportations, which he claims could include a million people.
