back into the economy. david: hasn t it? it has a little bit. but there are other things helping out as you mention as well. we saw manufacturing growth, 11% of gdp. that s actually down from 16% two decades ago, but it s strong from where it was and what we re seeing is that that s contributing to our gdp numbers going forward first quarter, 3.1%. so we hope to continue and see that move forward. what the problem is right now, the corporate tax cuts, a lot of those companies used that money for buy backs, rather than putting it back into the economy. the reason is they re a little worried to recycle it into the economy and make the cap x plans because of the uncertainty. the problems with china, the problems with mexico right now. david: but, dan, one of the things i know, i ve talked to larry kudlow about this, one of the president s advisors, he s very proud of is that the blue collar workers have benefitted tremendously from the policies, not only the tax policies, but of course,
asking of the mexicans, of the chinese, is reasonable. they should open up and reduce their tariffs and stop stealing our intellectual property, engage in cyber espionage against the united states. my problem with the mexico dispute is it is changing the focus from where it should be. we need to get every country, that is why we need free trade deals. with britain we need to get a deal with europeans, with japan so we can focus the attention on the real bad actor on the international scene which is china. we are in an abusive relationship with china. david: breaking news on the mexico front, the president of mexico said saturday he was encouraged by us willingness to have a dialogue or plan with donald trump. looks like we are making progress. you touched on the economy, 3.1% growth, less than expected. over 3% growth for the first quarter of this year and the cbo
middle class and people who are on the lower end of the earnings spectrum, they have absolutely benefitted from the tax cuts and i believe the economy is clearly showing that, because you re nodding yes. i think it s how you define wealthy. certainly, you know, the top, let s say 1/10 of 1% may have benefitted, but when you expand, let s say wealthy to the top 5%, 10% and start including those people from the higher tax states, you re starting to see the states that have the people leaving the most are these higher tax states. so new york, new jersey, connecticut is last year had some of the highest rates of people moving out of those states. so, clearly, there are wealthy individuals who are moving because the taxes are so onerous. david: and jackie, you know, a lot of people even i live right in manhattan so i get clobbered not only by the state, but the city. you and me both, my friend.
david: almost everybody got the tax cut, right? and now we re dealing with record low unemployment in all groups. a lot of people benefitted, but if you look at the tax cuts, who benefitted the most? it s the top, top, top of the 1%. david: 2020 democrats refusing to give nos trump tax cuts any credit for the good of the economy, so is this going to be an issue for them going forward? fox business network s jackie deangelus, c.p.a. dan geltrud and aaron gibbs thank you for being here. tulsi and other democrats are saying that it didn t help the economy or just the top, top of the economy. you have job growth which is extraordinary. more jobs than job seekers, the first time in my lifetime, the 19th month we ve had that. you have wage growth still going on. if not tax cuts, what? i think it s a bit of an exaggeration. so, definitely the tax cuts helped the wealthy, but the administration thinks that that will spur economic growth because that money will cycle
canada us agreement done. it will court to strengthen the president s position vis-à-vis china. let s get rid of the tariffs and then the next day say we will pose new tariffs so that does make it problematic. i do think at the end of the day there will not be these tariffs on mexico. the president is going to get a deal with mexico. heather: david: it is 10 days. in the past, he feels there is making progress but we want us canada mexico to be a big free-trade zone so we can have a powerful alliance against these places like china but if you look at the job the president has done on the economy it is so fantastic i don t think we want new tariffs with the southern