Wednesday, November 30, 2016

Trumponomics

How the Trump Effect is already making America work again:
Trump and his team have signaled that the U.S. is going to become a friendlier host to businesses big and small. They are promising to lower taxes on companies, encourage the repatriation of foreign-held cash and roll back regulations that have stifled innovation and entrepreneurship. Instead of driving companies offshore, the Trump White House will do everything in its power to keep businesses in the U.S. Business investment has been the weak link during the Obama years – a major reason the economy has sputtered along in near-stall mode. Managers rattled by a bewildering flood of rules and regulations have been reluctant to spend, which in turn has dampened productivity and wage growth.

The Carrier decision, and the resulting 1,000 jobs, is a drop in the bucket, but it is a powerful symbol at a time when working people in our country are just regaining their optimism. Carrier had long broadcast its intention to shift the manufacturing of its gas furnaces and fan coils from Indiana to Monterrey. The move was expected to save Carrier some $65 million per year, but became a rallying cry on the campaign trail. The planned move became the poster child for the seeming indifference of U.S. companies to its workers, as well as the negligence of the Obama White House, which did nothing to prevent the devastating seepage of manufacturing jobs from our land.
Losers never prosper. Hopefully that era is now over.

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