We noshed on bagels and drank coffee at The Corner Bakery, interestingly, in the shadow of the Trump Tower, then under construction. We prognosticated over which candidates would win each parties respective 2008 nominations. Disagreement centered over who would win the Dems nomination. My friend thought that Hillary had that one all sewn up. I opined that much of the American public were tired of the Clinton's and the Bush's and that it would be someone other than dear Hillary.
Fast Forward to 2016. That Clinton / Bush fatigue still ailed the American voter. Hence we have the election of Donald J. Trump as the 45th President of the United States. Despite the high anxiety over his election, we should not fear his ascendency to the oval office.
Remember the rallying cry voiced by James Carville, back in 1998? "It's the economy stupid". Yes it is, indeed. With economic growth sputtering at an anemic 1.2% growth and 95 million Americans off the job rolls, rest assured this will be the new administrations number one priority.
Working with a Republican House and Senate there is a reasonable expectation that there will be Individual Tax Reform that will put a little more jingle in American pockets. The brackets should be spread more. At present, it only takes an adjusted gross income of approximately $15,000 and an individual is placed in the 15% marginal income tax bracket. That should change.
Corporate Tax rates will go down making companies more competitive in the global economy. More funds should be available for Research and Development as well as business expansion. Reduction of the tax rates could result in more on-shoring--where companies bring back more manufacturing functions.
Trade deals made during the previous administrations could come under closer scrutiny and revised to make them more fair and beneficial to the United States.
The President-elect made it quite clear in his acceptance speech that he intends to help the American cities. With the right team and proper policies, there could be a greater increase in Urban Enterprise. Something sorely needed in much of Americas decaying urban core.
His big time Infrastructure package will only help the economy over the long run. What will be needed in other areas of the government budget will be corresponding cuts to help balance the numbers out.
President-Elect Trump has already assembled a top flight team to insure the security of all Americans. As more administration slots are filled, the country should rest easy that competent people will be posted to insure tranquility throughout the land.
Count on the border wall to be built and enforcement of current immigration laws. Now it might not be a concrete wall all along the border as that would be unfeasible in certain terrain. Rather, a combination of electronic surveillance, fencing, and the concrete border wall will secure the border.
Immigration reform is coming. The President-elect has already announced his intention of expelling those that have moved into the country illegally and have criminal records. No one begrudges any one wishing to build a better life for their families by immigrating to the United States, just do it legally. It remains to be seen what will happen to the many "law-abiding" undocumented that have moved here over the past decades. One thing is for sure, there will be increased business for the Abogados specializing in immigration law.
Obamacare is destined for the medical receptacle. His appointment of Representative Tom Price as the Health and Human Services Secretary shows that he is serious about improving the best health care system in the world without the burden of the ACA mandates and impediments to great health care. What may come of it is a more free market based system that allows Americans with greater choices and competitive prices. At the minimum, expect health insurance products to go down in price.
As a by-product of free market medicine, American's veterans will see dramatic improvement in their care. It is possible that a Veteran Med Card, whereby a Vet can seek health care services by visiting any medical provider he/she chooses, may become a reality.
President-Elect Trump has sketched out his top priorities in the first 100 days. Should he be able to get many of the proposals through the U.S. Congress, it is possible that our country can move from diminished expectations to heightened opportunities. Not much to fear in that.