In the recent election, we wished for a Disruptor while knowing there is the risk of “gett’n what’s wished for.” We got it – one of the best – or is he the worst? – known to mankind – Donald the Disruptor.
Ask anyone familiar with Atlantic City, or 5th Avenue real estate. The opinions about our new president-elect vary a full 180 degrees.
Many believe Donald Trump has the potential to go down in history as one of the most famous, or infamous, disruptors of all time. The economy, regulations, and politics need disrupting. Stay tuned.
After a long day of travel, I watched the election returns until 10:00 PM, focusing more on the popular vote count and speculations the late counts from highly population districts would favor Hillary. Setting an alarm for 2:00 AM, I knew Trump would be lagging. I was startled beyond belief to see Trump’s acceptance speech.
From that point, I have become increasingly pleased with the outcome, but tempered that with cautious optimism.
Here are some promises and expectations from the president-elect, alongside my comments and thoughts.
- Streamline permitting, and project approvals. Bet that takes considerable time.
- Corporate tax cut from 35% to 15%. Am I dreaming? Can’t believe that will materialize.
- Much simpler tax code with only three tiers: 12%; 25%; 35%. Simpler will be harder to game. Long overdue!
- Foreign-held profits must be brought home for a one-time rate of 10%. Makes good sense to me.
- Alternative Minimum Tax: An incredible “Got-Cha.” Long overdue!
- MH Community and Manufacturing Operators – along with others in business – get to expense expansion cost under the president-elect’s proposals. WOW! What a nice surprise!
- Roads, bridges, and tunnels updated and expanded. A trillion in infrastructure spending over 4 years would boost growth by several percentage points.
- Redirect foreign spending to needed USA infrastructure. Huge boost to jobs and investing.
- Most of President Obama’s executive orders are How wonderful!
- Dodd Frank and CFPB to be Hallelujah! We bankers can move bloated compliance teams back to the basics – lending and deposit gathering. Will be so great to close MH loan applicants on-the-spot and same-day.
Putting numbers on all this is difficult, however my thinking is increasingly optimistic and tends to align with those Republican leaders who are creatively saving-face while migrating back to the fold – and to President-elect Donald the Disruptor. ##
By Jim Clayton.
(Editor’s Note: Mr. Clayton is the legendary founder of Clayton Homes and award-winning Clayton Bank. For the in-depth interview, A Cup of Coffee with…Jim Clayton, please click here. The graphical insert above was provided by the editor, as is common when published with an Op-Eds or Letters to the Editor.
Other perspectives are welcome, see some of those published at the link here.)