Who owns the economy: Obama or Trump?

I'm trying to assemble THE BEST sources to debate family members about the economy. My sister's husband claims to be "conservative" but shits on Trump and even voted for Hillary. He says the economy actually recovered before Trump. Some libtard I have to work with was telling me that Obama actually saved the economy, and Trump is ruining it with tax cuts. I just want to drop some sources to shut these people up. Post the best you got.

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The Economy did recover before Trump. But that's barely all it did. the dow was at 16000 before the crash, Obama got it back to 18000 from 8500 in eight years. Trump got it from 18000 to 26500 in less than two years. Dems might argue that the percentage from 8500-18000 is greater, but that ignores key facts, among them that economies naturally recover from crashes and dips even if you do absolutely nothing. They naturally recover faster than it did under O. There is a reason that it skyrocketed the day after the election and it wasn't Obama's policies.
Second, they love arguing that the Tax Cuts won't pay for themselves. They're wrong, not least because tax cuts for the highest income bracket went from 39.5 to 37%, 2.5%. The economy has already grown more than 2.5% since the tax cuts were done, so the dollar amount of the taxes collected has actually gone up.
But that's too simple of an answer. The real answer is that the majority of the people in the upper tax brackets used to be able to deduct their state income taxes and/or property taxes in order to reduce their federal tax liability by as much as 13%. They can't do that anymore.

Let's use Trump's 2005 tax returns for example. Trump made 250,000,000 in taxable income in 2005. Using good accounting and deductions and depreciation and loopholes and all the rest, he was paying ~20% in federal tax, or Being a resident of New York, he was also paying 9% in State Income Tax. 9% of 250,000,000 is 22,500,000.
Because he paid way more in state income taxes than the standard deductible, he could itemize and reduce his federal tax liability by 22,500,000. So in reality, he was paying 50,000,000 on a federal tax liability of 227,500,000. So really, his effective tax rate was ~22%, not ~20%.
Now, with the State and Local Tax Exemption (SALT), Trump was able to reduce his tax liability by 9%.
Because he eliminated SALT on the upper income brackets, now he can't do that and so he has to pay 22% on the whole 250,000,000 instead of 22% on the 227,500,000. That amounts to almost 55,000,000.
tl;dr, Trump cut taxes on the rich by 2.5%. He also eliminated the SALT, which means the rich are paying taxes on 9-13% MORE of their income than they were before. What looks like a 2.5% tax cut is actually an increase of ~3% in federal tax revenue even before you factor in economic growth.

>he was paying ~20% in federal tax, or
50,000,000.

What about all the literal overnight changes when he took office?

Liberals (and really politicians in general) cannot do math, this is why they're so obsessed with raising or cutting income tax rates instead of focusing on federal revenue growth.
Let's take a hypothetical Millionaire, Joe Blow.
Joe Blow is making $1,500,000 per year. Under Obama's tax rates, he had to pay 39.5% in federal income tax, or $592,500
But Joe Blow lives in California, where he has to pay the state 13% on his income. So Joe Blow has to pay California $195,000 in income taxes.
Because Joe Blow itemizes his deductions, he can deduct $195,000 from his federal tax liability of 1.5 Million. So in the end his tax liability to the federal government is only $1,305,000. Now Joe Blow has to pay 39.5% on $1,305,000, or 508,950.
So the federal Government makes $508,950 from Joe Blow under Obama.
Along come the Trump Tax Cuts, reducing Joe Blow's tax rate from 39.5% to 37%.
So from Joe Blow's income of 1.5 Million, he has to pay 37% in federal income tax, or $555,000.
BUT Joe Blow can no longer deduct his State and Local Taxes, so he cannot use his state income tax (Or Property Tax or whatever) to reduce his federal liability like he could under Obama, so he has to pay 37% on the full amount of 1.5 Million, or $555,000, compared to the $508,950 he had to pay under Obama,
That means that under Trump's tax cuts, he is paying $46,050 MORE than he was paying under Obama's tax rate of 39.5%.
The federal government is therefore making 9% MORE from Joe Blow under Trump than it was under Obama, and again, that's before any economic growth is factored it.

Everything good that has ever happened was caused by Obama. All the bad things that happened before Obama was Bush's fault, and all the bad things that happened after Obama is all Trump's fault. Haven't you been paying attention? I can't even right now.

Both are puppets you fucking retard. Neither "owns" the economy.

Every dollar thats created bears interest that can only be paid by creating more dollars (that also have interest). The economy WILL FAIL and it is mathematically demonstrable. It doesnt matter what colour tie the president wears

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Ok, but whose policies had the most impact on the economy?

Neither had a greater effect. Whats happening is happening regardless of whos in office