IT’S THE ECONOMY, STUPID!
So said President Bill Clinton in 1992 as he prioritized the issues of primary concern to the American people. Money. Jobs. Purchasing power. Economic security. Opportunity for hard work, investment and financial advancement. The primary issue of concern to all Americans however verbalized was then, in 1992, the economy. Most people think that is so today! I believe Donald John Trump thinks the same.
President Ronald Reagan said that the only way to get the economy growing, to produce the monies that the American people wanted was to:
“Get government off peoples backs!”
By that, the astute Reagan meant that government should be limited in terms of its economic activity, regulate and control as little as possible, and most importantly:
That is, look hard at the benefit of any regulation and compare that to the cost, the real cost to the American people and then rid the country of any which failed the test:
THE COST-BENEFIT TEST
America drowns in regulations. The economy is strangled by these rules and regulations so many of which are unnecessary so very well implemented by those who seek to control the American economy. The Obama Administration has issued and expanded more regulations than any administration in American history. The federal government now in terms of control exists at a mammoth size and continues to grow. It grows through two means:
REGULATIONS AND EXECUTIVE ORDERS
So many of these regulations are unnecessary, unbelievably costly, negative in impact and result, curtailing the entrepreneurial spirit, and otherwise preventing real economic growth. Our economy is stagnant. It has grown little since the hurtful recession of 2008. Real unemployment is far higher than we are told. Qualitative contributors, real workers who can contribute to the growth of our economy are prevented from doing so by onerous rules and regulations, a difficult and wasteful tax code and the growth, sometimes astronomical of the world of ENTITLEMENTS. For many, it simply does not pay to work. The government provides more in the form of dole, stamps, unemployment compensation, medical insurance subsidies and more. The culprit? Once again:
REGULATIONS AND EXECUTIVE ORDERS
It is estimated that regulations, the enforcement thereof and the negative results they produce cost the America economy and we the people:
HUNDREDS OF BILLIONS OF DOLLARS ANNUALLY
Some even estimate that the real effect of government control, meddling and obsession with regulations the cost to be approaching $1 trillion annually. That, my fellow Americans, must change or our once great economy providing the opportunity for all, the fulfillment of the American Dream will be:
DEAD IN SOCIALIST WATERS!
Now comes Donald Trump, President Trump. He is a man of business, from the business world, understanding the American economy. Like him or not, the man knows how to create jobs. There is a Trump gameplan to revitalize the economy, make sweeping changes in the tax law, and perhaps immediately, first 100 days in office:
That is, to look at the cost-benefit of every regulation and determine whether or not it should continue, whether or not there is enough benefit to withstand the cost of the implementation and the ultimate effect of that regulation. Thousands upon thousands will be repealed. And, the economy will start to grow again, not in the static, balanced, socialistic way in which it does now, but in a dynamic, entrepreneurial way as our economy did in the 1980s under the able administration and inspiration of Ronald Reagan.
To the end of the regulation and Executive Orders, President Trump has appointed a longtime critic of heavy regulation to flesh out his new administration’s plan for remaking the financial rulebook. That man is Paul Atkins. Mr. Atkins has had a successful career as a securities lawyer. Atkins was a commissioner of the SECURITIES AND EXCHANGE COMMISSION (SEC), a commission that works with and regulates Wall Street and may perhaps be the leading expert and critic of regulations, and over-regulation. Atkins will play a major role on Trump’s transition team charged by Trump with recommending policies on financial regulation. Trump and Atkins have indicated they will closely examine and start with the rescinding or scaling back of many of the provisions of the:
2010 DODD-FRANK LEGISLATION
Dodd-Frank now provides that there will be a creation of a systemic-risk council. This council has the power to designate large financial firms for bank-like regulation from the Federal Reserve. In other words, the actions and activities of this council will substitute government judgments for investor judgments, deciding for investors whether a product merits investment. Can you believe that?
By way of illustration, the Ford Motor Company may decide to do away with a certain line of automobiles or trucks, and determine to invest billions of dollars of its money and consequently shareholders investments in new product lines. This council, allowed to continue its activities, would actually have the legal power to prohibit Ford from doing so if in fact it felt the members of the council, not the Board of Directors of Ford Motor Company thought that this was a bad investment decision! Unbelievable, and if carried out, that would surely be the end of private business and entrepreneurialship as we know them. Trump and Atkins have promised to put a stop to this council and to deregulate anything in Dodd-Frank which would encourage any such action.
When Atkins was an SEC Commissioner, he was an outspoken critic of the agency’s approach to cracking down on corporate misdeeds through large penalties against firms that agreed to settle fraud charges, whether or not they were accurate or proven. Such action was for Atkins a form of intimidation, threat and of course control. Punish individual wrongdoers, not corporations and its shareholders, said Atkins. That is the only right way.
While at the SEC, Atkins repeatedly criticized the scope of financial regulations, warning over and again that this resulted in the demise and expense of market competition with a large negative impact on our economy. By his actions, Atkins clearly believed in the Reagan motto:
GET GOVERNMENT OFF PEOPLES BACKS!
Banking investors bet on such deregulation relief. Share value on Wall Street has climbed dramatically since Trump was elected. There is now a Republican President, Republican control of both House and Senate and they have pledged to do everything possible to repeal Obama Administration regulations on everything from trading to retirement advice. In short, the Republicans have promised to do everything possible to stimulate growth and create new financial and economic opportunity, incredibly good news for all Americans.
Trump has indicated that he will work with really qualified financial people, appoint his own personal advisory council, and further appoint those most qualified to hold the highest offices, the key and critical financial positions. Men and women from Wall Street will be appointed, one as Secretary of the Treasury, a critical important position, Head of the Federal Reserve, the SEC and other critical agencies which regulate and stimulate our economy. Trump will also work with conservative economists and business leaders generally who among other things have championed lower taxes, less regulations and more stimulation of our economy and the jobs it will produce. Even more good news for America. It sounds as though this political outsider, the man who tore down and has begun rebuilding the Republican Party will do what he has promised to do.
And that includes a major overhaul of the United States Tax Code. Nothing is more needed than that. Trump has promised to lower taxes, make them more fair, even raise the level of income earning where no taxes are paid by some, a truly fairer tax approach to the middle class and, to the horror of the Democrats, even lower the highest tax rates on the so-called wealthy and dramatically reduce the rates for Corporate income tax. If all of that happens, you can expect, my fellow Americans, a jolt to the American economy and the revival of opportunity, entrepreneurialship, the American spirit and the American Dream and brand new economic opportunity and benefit for all. May it happen.
One of the most overregulating departments in the federal government is the EPA, the ENVIRONMENTAL PROTECTION AGENCY. The EPA, and its little brother in enforcement OSHA is one of the largest and most oppressive regulating agencies. The EPA controls energy investment (read the Alaskan pipeline), fracking, offshore drilling, the coal industry and so much more which affects the energy America needs and uses. Trump has promised a deregulation, the utilization of our very own natural assets, creating less American dependence on the Middle East, Saudi Arabia and other Arab producing countries which essentially control American energy supplies. What a blessing that would be.
As importantly, Trump has promised to repeal as much as or if possible all of:
OBAMACARE: THE AFFORDABLE CARE ACT (ACA)
The regulations issued by the Obama Administration has made this supposedly Affordable Care Act ever increasingly unaffordable, rising in costs, and controls, and the exit of so many private companies and individuals from the medical insurance business that, the world of medicine is changing dramatically every day. Trump has proposed radical changes in this disastrous act and an aggressive return to market factors, competitive dynamics which would be an unbelievably huge benefit for every American citizen. May it be so for the medical future of we the people.
Trump has also promised to deregulate education, to deemphasize Common Core and return as much control as possible to local communities which right education belongs.
And so much more.
Trump has stated that he will work aggressively with the Republican House and the Republican Senate, with Paul Ryan and Mitch McConnell to effectuate sweeping changes in the first 100 days of his administration. The House of Representatives is already at work with much fundamental and change-oriented legislation, as-is the Senate and Trump has promised to support all such and effectuate these changes as soon as possible. Perhaps the number one objective is:
THE REPEAL OF ABUSE OF EXECUTIVE ORDERS
Our economy needs both, my fellow Americans, BOTH! The third week in January 2017 is the end of Barack Obama and his progressive administration. In comes Donald Trump and the Trump Administration and you can be well assured that America will:
From the radical and oppressive change of the Obama Administration. I for one will hold Trump, and Ryan, and McConnell, and all other Republicans elected to produce this CHANGE BACK to their promises. America so desperately needs a new course, and a new and aggressive economic pathway to the future. We need a return to our exceptionalism, the entrepreneur, the constructive opportunist and the hope which new opportunity brings to every citizen. Those are your promises, Donald John Trump. Now:
MAKE THEM HAPPEN!