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1: These statement are simply untrue. Let’s look at who he is speaking to: in the first part of his tweet: “Your 401k’s” — only ~32% of Americans are investing in one according to the US census bureau (as of 2017). https://twitter.com/realdonaldtrump/status/1318924531092828162
2: So, for that minority of Americans, let’s dig in. If we use the S&P 500 as a proxy for 401k performance, it’s important to note that since 1947, the S&P 500 has posted a total annual return of 10.8% under Democratic presidents, versus 5.6% under Republican presidents.
3: If the historical performance isn’t convincing to you, then take a look at the performance between the last 3 administrations:
4: The S&P 500 in Obama’s first term clearly outperformed the S&P 500 in Trump’s first term. If Trump was to win re-election, even far exceeding first term performance would mean a lesser performance to Obama’s second term.
5: To the next part of his statement: “Massive Biden Tax and Regulation increases will destroy all that you have built!” — Who is he speaking to? Biden’s tax plan, as clearly outlined, will only affect extremely high income earners and big corporations:
6: These are hardly “massive” increases. And given that economic growth and recovery is beneficial extremely disproportionately to the most wealthy:
7: It is only common sense policy that they be taxed accordingly. And as the data shows, contrary to Trump’s fear mongering, there will be no economic crash or disaster as a result.
8: To the final part of his statement: “Additionally, 180 Million People will lose their Private Healthcare Plans.” — A quick @ddale8 fact check:
9: Contrast this with the Trump administration, which after 4 years, and 5+ claims of a “soon to come” replacement healthcare plan just this year, has failed to offer anything at all. The only action his admin has taken was an attempted repeal of the Affordable Care Act,
10: along with several lawsuits designed to weaken certain aspects of it (including its protection of pre existing conditions). He falsely claims 180 million Americans would lose insurance under Biden’s proposed plan. In reality, if his administration had its way,
11: hundreds of millions of Americans truly would lose coverage and be negatively affected.
12: End thread
