Thank you, Klaus, very much.
It's a privilege to be here at this forum where leaders in business, science, art, diplomacy, and world affairs have gathered for many, many years to discuss how we can advance prosperity, security, and peace.
I'm here today to represent the interests of the American people and to affirm America's friendship and partnership in building a better world. Like all nations represented at this great forum, America hopes for a future in which everyone can prosper, and every child can grow up free from violence, poverty, and fear.
Over the past year, we have made extraordinary strides in the U. S. We're lifting up forgotten communities, creating exciting new opportunities, and helping every American find their path to the American Dream – the dream of a great job, a safe home, and a better life for their children.
After years of stagnation, the United States is once again experiencing strong economic growth. The stock market is smashing one record after another, and has added more than $7 trillion in new wealth since my election. Consumer confidence, business confidence, and manufacturing confidence are the highest they have been in many decades. Since my election, we've created 2.4 million jobs, and that number is going up very, very substantially. Small-business optimism is at an all-time high. New unemployment claims are near the lowest we've seen in almost half a century.
African American unemployment has reached the lowest rate ever recorded in the United States, and so has unemployment among Hispanic Americans. The world is witnessing the resurgence of a strong and prosperous America.
I'm here to deliver a simple message: There has never been a better time to hire, to build, to invest, and to grow in the United States. America is open for business, and we are competitive once again. The American economy is by far the largest in the world, and we've just enacted the most significant tax cuts and reform in American history.
We've massively cut taxes for the middle class and small businesses to let working families keep more of their hard-earned money. We lowered our corporate tax rate from 35 percent, all the way down to 21 percent. As a result, millions of workers have received tax cut bonuses from their employers in amounts as large as $3,000. The tax cut bill is expected to raise the average American's household income by more than $4,000.
The world's largest company, Apple, announced plans to bring $245 billion in overseas profits home to America. Their total investment into the United States economy will be more than $350 billion over the next five years.
Now is the perfect time to bring your business, your jobs, and your investments to the United States. This is especially true because we have undertaken the most extensive regulatory reduction ever conceived. Regulation is stealth taxation.
