(PatriotWise.com)- Despite President Joe Biden being in charge – and promising to hike corporation taxes to 28% and risk American jobs – Republican Senator Tim Scot is optimistic about the future of the American economy, and the nation’s rebound after the COVID-19 pandemic finally ends.
“I look forward to the third and fourth quarter of this year where we’re going to have the most incredible comeback that we’ve ever seen as a nation,” the Republican South Carolina Senator told the George W. Bush Presidential Center’s Forum on Leadership last week.
“We will see not only double-digit but high teens or early 20s GDP growth,” he told the forum. “This economy has been waiting for a long time to explode. And it’s going to happen.”
During the last administration, President Donald Trump constantly promised a huge economic rebound, with early indications showing a “super V” recovery – but under the Biden administration, businesses have not been encouraged to fully open and millions of Americans are still out of work.
When Senator Scott was asked his view of what would help the nation get back on its feet in terms of the economy, he discussed important incentives for getting people running businesses again, and implementing a competitive tax structure – something that the Biden administration opposes.
He also reminded Americans of the importance of staying positive in the face of adversity.
“We have to believe that the best is still to come,” he said. “Too often we hear a lot of naysayers and a lot of doomsday predictions.”
Scott said that the United States had overcome the Jim Crow South and the civil war, as well as the decline of the 1987 Black Monday.
“We’ve been able to overcome conflict in Korea, Vietnam, two world war…our nation is very resilient,” he added.
Scott isn’t the only one with an optimistic view of the U.S. economy, either. Coca Cola CEO James Quincey said recently that he thinks that the United States will see a rapid recovery as more people get vaccinated.
“I know this time last year, we had a number of discussions about an alphabet soup of different shapes of recovery. Very specifically in the U.S., I think the rate of vaccination is clearly going to bring a reopening that’s going to be relatively rapid in the U.S.,” Quincey told Yahoo! Finance.
He added that there’s a good deal of stimulus money in the economy which will aid a “good recovery into the balance of the year in 2021.”
Even with President Biden in charge, could the Trump administration’s lowering of taxes and strengthening of the national economy play a role in America’s comeback?