Donald Trump didn’t just watch the market; he governed by it. When the Dow broke 30,000 on November 24, 2020, he strode into the briefing room to hail the milestone. When stocks fell on October 10, 2018, he blasted his own Federal Reserve chair, saying the Fed had “gone crazy.” Those snapshots capture his method: treat index levels as a running approval poll and lean on policy levers—tax, regulation, even central bank independence—to keep the line pointing up. (Washington Post, Nov. 24, 2020; PBS/Reuters, Oct. 10, 2018.) (washingtonpost.com)

What that approach delivered

• Trump’s 2017 tax law cut the corporate rate from 35% to 21%—a permanent reduction aimed squarely at after-tax profits. Buybacks promptly surged: S&P Dow Jones Indices tallied a record $806 billion in S&P 500 repurchases in 2018. (IRS; S&P Dow Jones Indices, Mar. 2019.) ([irs.gov](https://www.irs.gov/irm/pa...

President Donald Trump's unwavering focus on the stock market as a barometer of his administration's success is not just a reflection of economic performance; it's a testament to the power of conservative, pro-growth policies that prioritize American prosperity. By championing tax cuts and deregulation, Trump has reinvigorated the free market, leading to substantial gains in the stock market and, by extension, the broader economy.

The 2017 Tax Cuts and Jobs Act (TCJA) stands as a cornerstone of this economic resurgence. By slashing the corporate tax rate from 35% to 21%, the TCJA provided businesses with the capital to invest, expand, and hire. This legislative move was not merely a boon for corporations; it was a catalyst for job creation and wage growth across the nation. Critics who decry these tax cuts as exacerbating income inequality overlook the broader picture: a thriving economy benefits all Americans by fostering job opportunities and economic mobility.

Deregulation has bee...

During his presidency, Donald Trump frequently touted stock market gains as a barometer of his administration's economic prowess. This narrow focus on Wall Street's performance not only misrepresented the true state of the economy but also exacerbated the chasm between the affluent and the working class.

The Fallacy of Stock Market Indicators

Relying on stock market indices as a measure of economic health is fundamentally flawed. Major indices like the S&P 500 are heavily weighted toward a handful of mega-cap corporations, whose soaring profits often do not translate into broader economic well-being. This concentration means that stock market gains can mask underlying economic distress, such as stagnant wages and rising unemployment among the working class. (schwab.com)

Tax Cuts: A Windfall for the Wealthy

The 2017 Tax Cuts and Jobs Act (TCJA), a cornerstone of Trump's economic...