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Do we see prosperity under the Trump administration?

Posted By Chris Prewit, Thursday, February 2, 2017

The answer according to economist Arthur Laffer is yes with possible side effects that could affect Texas. He predicts that if Trump reduces the corporate tax rate from 35 percent to 15 percent and lowers the taxes for high-income earners this will stimulate the economy.  

 

The repeal of the Affordable Care Act will improve the health care system and there should be the creation of alternative plans that would allow transparency in costs and increase competition. Laffer stated that if you look at Trump’s political risks, they are extremely low. Trump will have a four-year political run. Once you get the ball rolling, it will be the biggest and best bipartisan era you’ve ever seen.

 

The only issue that Laffer disagrees with Trump on is anti-trade message. This would hurt Texas, because Texas is a free trade state that benefits from international trade. We can’t be too secure that an economic agenda dealing with international trade, especially with Mexico can continue (under Trump) to keep San Antonio’s and Texas international agenda thriving per Mr. Emerson CEO and President of KLRN TV. Tom Stringfellow from Frost Investment Advisors noted that regardless of political perspective, there is a pro-business, pro-consumer momentum that was voted into office across all branches of government.  This momentum will escalate domestic economic growth.

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