Trump’s Economic Dud!
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Man, that was disappointing. One big fat economic dud. I don’t really know how else to put it. You know, you get excited. Maybe, you know, you’re looking forward to seeing a film or television shows coming out and you watch it and you’re like, boy, that’s really meh. Anyway, yep, I’m going to tick off all the super Trumpsters out there. Yeah.
Trump’s economic speech was lousy at best. It is what it is. I’m going to go through here. And first and foremost, okay. I can’t recall. I can’t recall a, an election, election cycle. So void of any real economic proposals, any policy.
whatsoever. I really can’t. you know, the funny thing is, there are things that, you know, they’re basically on a batting tee for both Kamala Harris and Donald Trump to just smack if they really wanted to, and they’re not doing it. Let’s go through some of the things that Donald Trump knew proposals that he put forward during his economic speech.
And again, you know, he had his, he had a surrogates out. were on the, talkers this morning. Doug Burnham was out there. All right. Donald Trump won the election with that economic speech yesterday. No, he didn’t No, he didn’t. He didn’t move the fricking needle. And if he did move the meat needle, he moved it backwards. Anyway, sovereign wealth fund. got a kick out of this one. Okay. Cause I’ve talked about this for some time.
the fact that we don’t have sovereign wealth fund here in this country. Now again, I understand some of the logistics and problems with the sovereign wealth fund because of the politics that are involved. But one could be established where the United States government doesn’t have any proxy rights on anything that it’s investing in. Again,
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It’s hard to get politics out of it, but you see what has been built up in some of the Scandinavian countries and the UAE. Basically, it’s the government investing, not the government, the government taking dollars, tax dollars, and investing them in private concerns. So let’s just say if they had, let’s say the federal government actually had taken the surplus social security dollars back in the day and actually invested them.
invest in them in a conservative matter over time what they would be worth today. Trump said he wants to create a sovereign wealth fund to invest in great national endeavors, including major infrastructure projects such as highways and airports. Those are not things for sovereign wealth funds. Okay, that’s infrastructure. you’re basically, he doesn’t even, I don’t know, he doesn’t understand what he’s talking about.
I’m sorry. Sovereign wealth funds are not made up of bridges and roads and airports. That’s not what they are. Unless, of course, it was a road that you were investing in or a bridge where it was making a profit charging tolls for the sovereign wealth fund. He said this fund would be created through tariffs and other intelligent things.
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through tariffs and other intelligent things. No details, though. As a financial advisor.
I talk to people all the time and oftentimes people will, they want to start saving money, they want to start building up wealth, yet they are in debt. And serious, I’m talking credit card debt, high interest credit card debt. And what do I tell those people? I hold on, wait, okay? Before you start investing, okay? You need to pay down all of this.
ridiculous high interest credit card debt because quite frankly, it doesn’t make any sense. Now we’re 30, 34, I don’t know, give or take a trillion. That’s where we’ve gotten to this point time. Give or take a trillion, 34, 35 trillion dollars. Mentioned yesterday, $3 billion a day in interest. I would love to have a sovereign wealth fund too, but don’t you think maybe we should tackle our national debt first?
Don’t you think we should tackle that first, cut that down to size? No, I get it. It’s low interest debt for the most part, but it’s out of control. Out of control. mean, wouldn’t it be better out and they come out and say, we’re going to look to balance the budget and then this is what we’re going to do. This is our plan. We’re going to do this next. You do it in phases. Sovereign Wealth Fund.
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tax cuts for domestic producers. OK. This is interesting because we’ve had this before. We’ve had this before. Actually, a lot of these tax cuts for domestic producers, were eliminated when Donald Trump put his 2017 reform and lowered corporate taxes. wants to reduce part of this. He wants to reduce the corporate tax rate from 21%, which he got it down to from 35 under Obama.
to 15 % and 15 % for companies that make their products in the United States.
Okay, what does that mean? It means a lot of things. There’s a lot of gray area right there. What counts? What does it mean to be made in America? But again, I’m curious. I’m curious because again, it’s a lot of ways around that.
Is it just solely made in America? if, what if you’re, you manufacture your, your products, the pieces that go into your final product overseas, but then you finally put the, the entire kit, can and caboodle, whatever it may be together here in the United States. he said here, he said, if you outsource offshore,
or replace American workers, you’re not eligible for any of these benefits. In fact, you will pay a very substantial tariff when a product comes in from another country. Back before his tax cuts back in 2017, companies could deduct 9 % of their domestic production income, which reduced their tax rates at the time to 31 .85%.
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Again, you find you’re going to be helping companies out, rewarding companies, what they’re doing anyway, I don’t mind any of that. But again, how do you go about policing this? What is the definition of domestic manufacturing? Because I know what I would do. OK, if I was the CEO of X
YZ and, you know, let’s say I’m a manufacturer and I get certain certain pieces of equipment and certain products from here, there and everywhere. But I put it together here in the United States. I would I would take advantage of this. I would. What’s the worst thing’s happen? You get audited and they reject it later on. That’s what everyone is going to do.
Again, under the provision that was repealed, companies that wouldn’t normally be thought of as manufacturers were able to take advantage of the tax break. For example, OK, this was actually cited by Fordham School of Law economics professor Rebecca Kaiser. Starbucks considered itself a
domestic manufacturer because roasting coffee beans qualified as manufacturing.
There was one case, a company that assembled chocolate and cheese for gift baskets. They were, they actually won. They argued successfully that this counted as a manufacturing activity and therefore qualified for the break. So yeah, you’re going to have all sorts of game -dim -ship and whatnot taking place. Again, I just think it makes the tax cuts quite frankly, overly complicated.
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And I want I want simplicity. OK, I want simplicity. And again, you know, one of the things that people really kind of fail to understand. manufacturing manufacturing, but like politicians love throwing that word out. And by the way, in the jobs report, manufacturing employment declined by twenty four thousand. We have to what we do here in this country is we always put the cart before the horse.
There are certain things that we don’t train our people to do here in the United States. You can see interviews with Tim Cook from Apple and saying, we don’t have the people here in the United States that are capable of doing the type of work that’s involved with putting together some of their products. It’s the same problem with chips.
and the Taiwan semiconductor, we’re gonna have to actually, they’re gonna actually have to bring workers from Taiwan here to the United States to actually work in the plants and try to train people to do this type of work. Anyway, anyway, moving on. Elon Musk as efficiency czar.
He wants to set up a independent government efficiency panel headed by Elon Musk to root out waste in the federal government. No details on how it would function, but it would develop a plan to root out fraud and improper payments. It’s not just that. It’s
fraud and improper payments. It’s what we’re spending money on. Let’s take a look at commissions that are put together. I’ve actually interviewed about this today. Everybody remember that commission to Obama put together after he and John Boehner couldn’t agree on the cuts that were necessary and
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taxes back in the day. It first started out, they put together a plan that was rejected and then they supposedly put together, remember it was a bunch of senators that were supposed to come up with something and they came up with nothing. Well, they came up, but they didn’t do anything.
Ronald Reagan put together what’s called the Grace Commission to do the same thing during his presidency. We have various different things there, the Government Accountability Office, whatever it may be. Nothing, I find it hard to believe. I think what you need to do is just to start eliminating agencies. You have to hold the Pentagon accountable. Are you gonna be able to do that?
I mean, it’d be nice. Nice, it really would. Again, I think, you know, putting business people behind this, trying again, trying to make the country a lean, mean fighting machine is a good thing. you know, quite frankly, again, you can’t come up with some details on this. How many people are just sick and tired of hearing pie in the sky type crap? How would you do this? How would it be done? You know, I was thinking about it. I don’t know if you remember that movie.
Dave, remember Kevin Kline?
When he became the, well, he was a doppelganger for the president of the United States and the president was sick and they hit him in the basement of White House and they brought this Dave in who ran a, what was it? He was an employment agency. And it was funny because he brought his accountant in when he was the fake president. It was played by Charles Groton. And they were going through the budget and the accountant was like, how does anybody do their books this way?
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It’s really not that hard. It’s really not a difficult thing to do. Not difficult, but it’s not easy. What does that mean? Again, all of the rent seekers that we have here in this country, all of the people that live off the government, and I’m not talking, I’m not talking, you know, welfare. I’m talking corporate welfare. I’m business.
Welfare I’m talking people that are tied in what why do you think? Why do you think all these politicians get so rich? Why do you think DC has become DC and the amount of wealth that is concentrated in the surrounding areas? These are all rent seekers. These are people that are just living off the taxpayers money and Again, you’re gonna I would love to see that torn down. I’m not I’m not confident that that’s gonna happen again Interesting. I’d like to see some sort of plan
He pledged to issue a national emergency declaration to boost domestic energy supply. He wants to eliminate bureaucratic hurdles holding up new energy projects. I don’t have any problem with that. really don’t. You’re going to start seeing, as soon as you do that, you’re going to start seeing some,
lawsuits fly saying, you’re skipping through various different regulations. That’s going to happen. Again, I think we really have to move away at this point in time. Really move away from what isn’t working. Really move away from the solar and the windmills and let’s just say we’re going to go nuclear here in this country. That’s it. It’s over. All this other nonsense where we’re going to stop. We’re going to stop.
Polluting our country with solar panels because that’s what it is. Hey you think about back in the 70s I remember you know hug a tree save a tree now. We’re we’re cutting them down and putting up stupid solar panels Anyway, this one this one Doesn’t it’s just honestly, it is dumb. Sorry. It’s dumb. Okay. great You’re gonna ban mortgages for migrants living in the US illegally
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That’s great, Do you know how many mortgages are issued to illegals here in the United States a year? Five thousand.
5 ,000 I mean again you want a lower housing cost by doing that as like yeah, you’re trying to you know You’re trying to empty a swimming pool with a spoon. Just one doesn’t do a damn thing I got another sound bite BS Nonsense for your freaking MAGA crowd stop pandering Stop pandering to your stupid MAGA crowd Yeah, all right those illegal
not going to do anything to lower housing costs. And this is part of the damn problem. Okay. Is the fact that both sides, that we have issues here in this country, we have problems with commercial real estate. It’s a disaster.
You know, you might want to say, hey, listen, we got this major problem coming down the pike. This is what we’re going to look to do to convert this. And you have a problem. You have a couple of problems. can solve it. And it makes sense. How difficult is that?
This is the best shit coming up with bringing prices down. We’re going to ban mortgages for migrants living illegally in the United States. His other idea for housing is opening up portions of federal land for large scale housing construction.
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Again, do you have any idea how many federal office buildings that are just sitting empty that we the taxpayers are paying for? Why not start there? Why don’t you combine your government efficiency with housing? I don’t understand how difficult this is. Not to mention, fact, many these government workers don’t even show up to work.
Any more we’ve gone over this with the key card strokes. Everything goes along with that. Why don’t you do that first? Before you decide that I don’t know, you know, start bulldozing Yosemite or something like that. I don’t get that.
He wants to rescind the Biden Inflation Reduction Act. again, I don’t know if you saw this yesterday, Biden actually came out admitted that shouldn’t have called it the Inflation Reduction Act. It was a green new deal. But anyway, we all knew that anyway. Anybody with half a brain knew that he’s going to rescind all unspent funds under the Inflation Reduction Act.
Well, you better hurry up because Biden spending as fast as he possibly can. Not to mention the fact. Good luck with that. Let tell you why. Because some Republicans, Republicans are just as piggy as Democrats are. they are. but you don’t think that Republicans are feeding at this Inflation Reduction Act trough and their various different districts.
Of course they are. They no shame. What the hell? 740 billion? I gotta get some of that money for my district. And that’s what they’re gonna do. And they’ve already got projects lined up in their districts. Ready to go. Ready to go. And you’re gonna tell them no?
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Good luck with that. Good luck with that. Anyway, all said and done here, kids.
the other one he wants to make America the crypto capital it was it was bad it is what it is people okay sorry sorry you you watch you can watch how you know various different puns even on fox found themselves a real difficult time trying to get excited there was nothing really nothing of that much substance here but that’s on both sides
Both sides. With all of the issues that we have, like I said, that these are things that you could, problems that we have as a nation, things that are coming down the pike, you can combine some different things, coming up with some really good policies and ideas that aren’t gonna cost the taxpayers any money. It can actually save the taxpayers money in the long run and we’re not getting any of that. Watchdog on wallstreet .com.
