Howard Schultz disputes Trump's economic wins
Former Starbucks CEO and billionaire businessman Howard Schultz is refusing to praise the Trump administration’s policies for reviving the U.S. economy in key areas.
“No I would not give them credit,” Schultz said during an interview with Fox News’ Dana Perino on “The Daily Briefing.” “I think the reduction in the corporate tax rate of 21 percent [from 35 percent] was wrong and irrational.”
Schultz didn't stop there, he slammed Trump's record on jobs and financial security for everyday Americans.
“The facts are 40 percent of the American people do not have $400 in the bank,” he said. “Five million young people in America mostly black and Latino are not in school, not in work. One out of six Americans are food insecure" he lamented.
Despite Schultz's opinion, President Trump has presided over a healthy economy that has seen the lowest unemployment rate since 1969 at 3.9 percent, according to the most recent U.S. Bureau of Labor Statistics. On Friday, the jobs report for January is expected to show this rate held steady.
The impact of tax cuts and pro-business policies on investor sentiment has positioned the White House to preside over a strong stock market performance since Trump took office. Schultz said the president is misguided for saying that the market is a proxy for the economy.
"He is going to fall on his sword for that because that economy is not going to last," he said.
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This week the former coffee CEO is making the media rounds as he considers an independent 2020 presidential bid, his first interview on CBS' 60 Minutes, prompted a tweet slam from Trump himself.
Along with Trump, Schultz has recieved some criticism from Democrats who fear that he could split their vote and secure President Trump’s re-election.
“I think they are over reacting,” Schultz said. “It’s a very strong possibility that more lifelong Republicans who will have no place to go if there is a left-leaning liberal progressive Democrat, they will vote for Donald Trump.”