(ThyBlackMan.com) Factually, the United States economy is not enjoying a full employment economy, as President Donald Trump implies by presenting the official rate of unemployment for November, as 4.6%. Trump stating the nation’s unemployment rate is 4.6%, means 95% of United States’ workers, are fully employed. The estimated size of the U.S. work force is, 170 million people. Investopedia, a highly regarded financial educational web site, which states their experts offer more than 250 years plus of combined experience to ensure they are giving readers the most accurate information, states, “Unemployment of 5% or lower is often considered full employment in a real-world context.”
Investopedia further states, “Full employment is an economic situation where all workers and laborers who want to work are employed, making it the most efficient employment situation possible.” We watch cable television shows, such as MS Now’s Morning Joe, CNN’s Jake Tapper Show, Fox’s Maria Bartiromo Show, and any number of other popular radio and television talk shows avoid “in depth discussions,” about the #1 issue of American voters, and that is Jobs and the economy. And it is these, and “other fluffed up shows,” including major newspapers, which pass themselves off, as fact-based news sources, help enable and promote the Trump administration’s narrative, stating we have a full-employment economy, when this is clearly inaccurate.
I even personally reached out to Al Sharpton’s radio show, on December 2, 2025, in a phone call to ask, why his talk show is not talking about Black American unemployment, as African Americans have the highest unemployment rate of any worker group, and “The Rev,” who states he is the nation’s civil rights spokesman, through his National Action Network civil rights organization, cruelly shut me down, without allowing me to speak. African American unemployment, which is a bellwether, when it comes to unemployment statistical numbers is, at a 3 year high of 11.4%, and rising!
The Trump administration raised the possibility of offering 150 million adults earning $100,000 or less, a $2,000 Short-Term Consumer Tax Cut (He calls it a rebate or dividend) to grow Jobs, “That will require roughly $300 billion in revenue,” from the U.S. Treasury according to Erica York, vice president of federal tax policy at the Tax Foundation. For more details about tax cuts, rebates and dividends, click on:
https://thyblackman.com/2025/11/16/president-donald-trumps-2000-consumer-tax-cut-he-calls-it-a-rebate-or-dividend-is-a-step-in-the-right-direction/.
But when you look at the tax cut given to billionaires, millionaires and corporations, by the Trump administration; Trump gave them a “long-term tax cut” of 10 years, not one year, at an estimated cost of $3.4 trillion of Treasury funds. Thus, we have a short-term, and inefficient proposal of Job creation for working-class Americans, from Trump, while the wealthy, through the Trump administration, have pocketed a king’s ransom in tax cuts over a 10-year period of time.
The outcome or results of giving a $3.4 trillion tax cut to billionaires, millionaires and corporations didn’t produce the boom in Job creation the Trump administration promised. So, the nation, rightfully so, expecting a boom from the Trump Tax Cut, as that was a bundle of money, had their hopes dashed. Here is what was stated on the White House web site on June 24th, 2025, where the “One Big Beautiful Bill,” (OBBB) Trump’s tax cut proposal, was promoted: “The One Big Beautiful Bill delivers for the American worker: The One Big Beautiful Bill delivers the largest tax cut for working-and middle-class Americans in history. Put simply President Trump’s One Big Beautiful Bill will unleash our economy and deliver a Blue-Collar Boom.”
Ladies and gentlemen, it did not happen, the November Job situation report per the Bureau of Labor Statistics (BLS) shows the most comprehensive unemployment rate, per BLS economists, the U-6 category rate, from the Table of Alternative Labor Underutilization is 8.7%, while Mr. Trump’s “political rate,” the U-3 rate also rose to 4.6%. The Black rate which is 2.7% higher over the real rate of 8.7%, as stated above, is 11.4%. Click on (https://www.bls.gov/opub/mlr/1995/10/art3full.pdf) and go to page 24, where BLS economists affirm the U-6 rate is the most comprehensive rate. When you look at the GOP’s playbook, what we are witnessing, and have gotten in the past, when it comes to Republicans’ tax cuts is, President Donald J. Trump, repeating a cycle, that has been practiced by Republicans, since Ronald Reagan was president.
Here is how, that Republican cycle works,
1) first, a large tax cut, usually with objections from Democrats, to billionaires, millionaires, and corporations, as soon as Republicans take office,
2) then an announcement of a booming economy to come, that “unleashes the power of the economy,” that never materializes.
3) finally, benefits of the huge tax cut are never felt throughout the economy, especially by working-class people. The people who benefited from the outsized tax cuts to billionaires, millionaires, and corporations are billionaires, millionaires, and corporations, because that’s where the tax cut money largely went to, that group of consumers. But where are the Jobs, Mr. Trump promised?
When you examine Trump’s short-term $2,000 Tax Cut proposal to working-class Americans which is good for, just one year, it is hypocritical of President Trump to promote a notion that the $300 billion tax cut is going to be enough capital to finance long term Job creation, which is what working-class Americans want and need right now; Long term Job Creation. The nation needs Job creation based on the Real unemployment rate of 8.7%, not Trump’s 4.6% rate.
It is time for America, Democrats, Republicans, billionaires, and the Trump administration to get serious, when it comes to long-term Job creation. It is certainly going to take more than a one year $2,000 Consumer Tax Cut, to grow a $20 trillion plus size “Job creating economy over the long-term.” However, the $2,000 Consumer Tax Cut, from the president can be expanded to 10 years, just like the OBBB, with a cost to the U.S. Treasury, of $3.0 trillion. This would be a Real Consumer Tax Cut. Remember, these words echoed in the OBBB – The OBBB “delivers the largest tax cut for working-and middle-class Americans in history.”
We know, the 2017 Trump Tax Cut, and the recent “One Big Beautiful Bill did not produce the Jobs Mr. Trump promised, because we are witnessing with our own eyes a rise in unemployment to 8.7% from September’s rate of 8.0%. But the Covid 19 economic recovery did deliver Jobs by the millions. So, how did that happen? One tax cut delivered millions of Jobs, and the other didn’t. What was missing when it came to Trump’s Tax Cuts versus the Covid 19 Tax Cuts? Both of President Donald Trump tax cuts benefits, accrued to billionaires, millionaires and corporations. But the Covid 19 Recovery Tax Cuts were laser focused on generating consumer spending and were largely given to consumers. Consumer Spending drives this economy, as consumer spending money is 70% of GDP (gross domestic product). More consumer spending translates into millions of Jobs, and economic growth. So, how do you transition to a consumer spending model economy? You do it through a tax cut to consumers, as Trump is offering with the $2,000 Consumer Tax Cut.
However, the $2,000 Trump Consumer Tax Cut, lacks supportive factual data, as to whether or not it is suitable, when it comes to growing Jobs and the economy, over the long term “without increasing inflation,” which is critical to the success of any consumer tax cut model economy. Here is what we know. Factually, consumer spending, or consumption spending, accounts for 68-70% of U.S. gross domestic product (GDP), according to the Bureau of Economic Analysis (BEA). Therefore, if you increase consumer spending, you increase Jobs and expand the economy. When you look at that 70% figure, you want to know within that 70% group of spending consumers, who is the actual majority of spenders within that group. Why is that important? It is important to narrow the tax cut to that core group, within that 70%, because that is the group, who is primarily driving consumer spending.
Having found the homogeneous group within that 70%, the manner of the distribution and the amount of the tax cut over a given period of time, with the cooperation of the U.S. Treasury and the Federal Reserve (Fed) will go along way, in managing Job creation, economic growth and inflation. A 10 year 10% $25,000 Boomer Consumer Tax Cut, is uniquely suited to this task and challenge. The age group, beginning at 55 plus years are responsible for about 40% (almost half) of the spending done in our economy, and Baby Boomers are the core group of that 40% group of consumers. So, Baby Boomers ultimately, are the core group of the 70% and are the largest homogeneous population among that age group of consumers.
The transition to a 10% 10-year $25,000 Boomer Consumer Spending Tax Cut model economy, “will indeed unleash our economy and deliver the Blue-Collar Boom.” spoken of above, without increasing inflation. The 10% Boomer Tax Cut gives Trump’s Treasury Department the ability to actually “manage the distribution rate of the tax cut,” through direct control of an estimated $800 billion of the tax cut, to grow the economy, and Jobs. It is, through pulling forward tax cut payments to Boomers when needed, as the Fed addresses the issue of inflation and unemployment, that makes the Boomer Tax Cut unique. Go to TheFixThisTime.com for more details.
Staff Writer; James Davis
Mr. Davis is a Financial Analyst. His articles are about relating facts in a usable, truthful, and understandable way. That way, WE ALL WIN. James is, the author of three books, among them, “The Fix This Time,” Boost Your Retirement Income! Simultaneously Create Jobs and Spur Economic Growth (https://www.amazon.com/dp/B00MI3PD2M). Reach out to James @ his blog https://thefixthistime.com.
Question? Comment? One may use this email address; MrDavis@ThyBlackMan.com.
