Remembering Trump-The Failure of Opportunity Zones

[IM2]

No, you are wrong. Your source ignores all negative data. Let's look:



Uh, yeah, because we were in the middle of the Great Recession! Duh. A recession caused by federal interference in the housing and lending markets.

I notice you ignored the facts that I cited about the net loss in manufacturing jobs under Obama and the overall drop median household income under Obama. The cherry-picking article you quoted ignores these facts too.



LOL! Look at the history of the DJIA (Dow Jones) and you'll see how weakly the DJIA grew under Obama. It had nowhere to go but up after the Great Recession. Compare DJIA growth under Obama to the growth under Trump. It's not even a close call.



Are you 16 or something? Were you a child when Trump took office? Trump did quite a bit to spark the economy: the massive 2017 tax cut bill, the USMCA, deregulation, lowering our absurd corporate income tax rate to be competitive with Europe and Asia, imposing tariffs to protect American jobs and industries. How can you not know these things?

I know the data. I am correct. Trump lived on what Obama created. His tax cut was unecessary and it created a record deficit.

 

[mikegriffith1]

I know the data. I am correct. Trump lived on what Obama created. His tax cut was unecessary and it created a record deficit.

You have no clue what you are talking about because you won't read anything that disagrees with your mythology. The tax cuts have saved the average American family some $2000 per year. The tax cuts did not cause the deficit. Federal revenue rose sharply after the tax cuts, but Congress went on another spending spree and cancelled out that increase.

I notice you once again avoid the points about the net loss of manufacturing jobs under Obama, the overall drop in median family income under Obama, and the weak performance of the DJIA under Obama.

Trump's Economy Was Better than Obama's

 

[Captain Caveman]

I wish I could get my teeth as white as trump's black church rally.

 

[struth]

White Republicans keep trying to tell me that Trump did so much for blacks. But the problem with that is that trump did nothing for blacks. He bragged about unemployment created by an economy he inherited and white Republicans ate that up. But it was a lie. Then they talk about Opportunity Zones but the problem with those zones are they failed to do what trump said. But they weren't supposed to, because Trump didn't GAD about blacks.

How Opportunity Zones Launched a ‘Gold Rush’ for Wealthy Investors​

Bloomberg - Are you a robot?

Potential Flaws of Opportunity Zones Loom, as Do Risks of Large-Scale Tax Avoidance | Center on Budget and Policy Priorities

Critics are raising sensible concerns about the policy as high-profile Wall Street, Silicon Valley, and real estate investors rush to profit from it.

www.cbpp.org

Bloomberg - Are you a robot?

Why Opportunity Zones Are Failing | ThinkAdvisor

The Urban Institute outlines the key problems of these investments, and possible solutions, in a recent report.

www.thinkadvisor.com

This was a bipartisan plan, Cory Booker and Tim Scott added it to the jobs act. With that said,I am not sure why you are using articles from 4 and 5 years ago that talk about potential pitfalls....in some places the zones were a failure, in particular in Oregon.

Here is a more thoughtful review, and much more recent, then 2019:

Are Opportunity Zones Working? What the Literature Tells Us

Download the Research Brief by Kenan Fikri and Benjamin Glasner, PhD Download Introduction With the passage of the Tax Cuts and Jobs Act in 2017, Opportunity Zones (OZs) became the most consequential place-based policy initiative in a generation. Designed with decentralization...

eig.org

At this stage, a few facts can be established. First, the incentive is unlocking more investment capital and reaching more low-income communities than predecessor programs did at similar stages. The best available evidence strongly suggests that the size, scale, and geographic diversity of OZ capital-raising is registering in both a large proportion of targeted communities and spilling over positively into neighboring ones. The structure of the incentive itself ensures that OZ investments are economically additive to a community. It is increasingly safe to assume that OZ effects will be detectable when given a chance to play out. The first generation of studies (e.g. Chen, et al., and Corinth and Feldman) demonstrated value in showing that OZs did not trigger speculative activity in targeted communities. The second generation (e.g. Arefeva, et al., and Wheeler) is beginning to confirm that direct OZ investment activity is substantial and widespread. The third generation, which cannot credibly begin for a few more years, will start to answer the important questions about the policy’s long-term effects on neighborhoods. For now, a close look at the most comprehensive data already makes clear that OZs are breaking new ground and challenging us to reimagine what federal tax policy can achieve in chronically distressed parts of the country.