AMERICA FIRST ECONOMICS

Donald Trump has outlined a new economic vision based on a simple premise: all economic policy must be geared towards making it easier to hire, invest, build, grow and produce in America – creating a level playing field for workers and businesses in global competition, and creating jobs in America, not overseas.

Reducing the burdens on the American economy, and creating fair trade deals, will lead to an explosion of new jobs, wealth and opportunity. That’s what America First economics is all about – making America the best place in the world to do business, and the best place in the world to get a job, raise and rising standard of living.

1. Tax Reform

• Simplify taxes for everyone and streamline deductions. Biggest tax reform since Reagan.
• Lower taxes for everyone, making raising a family more affordable for working families.
• Reduce dramatically the income tax.
• Simplify the income tax from 7 brackets to 3 brackets.
• Exclude childcare expenses from taxation.
• Limit taxation of business income to 15% for every business.
• Make U.S. corporate tax globally competitive and the United States the most attractive place to invest in the world.
• End the death tax.

2. Regulatory Reform

• A temporary pause on new regulations and a review of previous regulations to see which need to be scrapped.
• Require each federal agency to prepare a list of all of the regulations they impose on American business, and rank them from most critical to health and safety to least critical. Least critical regulations will receive priority consideration for repeal.
• Remove bureaucrats who only know how to kill jobs; replace them with experts who know how to create jobs.
• Targeted review for regulations that inhibit hiring. These include: The Environmental Protection Agency’s Clean Power Plan, which forces investment in renewable energy at the expense of coal and natural gas, raising electricity rates; The EPA’s Waters of the United States rule, which gives the EPA the ability to regulate the smallest streams on private land, limiting land use; and The Department of Interior’s moratorium on coal mining permits, which put tens of thousands of coal miners out of work.
• End excessive regulation that is costing the U.S. as much as 2 trillion dollars a year.

3. Trade Reform

• Appoint trade negotiators whose goal will be to win for America: narrowing the trade deficit, increasing domestic production, and getting a fair deal for US workers.
• Renegotiate NAFTA (North American Free Trade Agreement)
• Withdraw from the TPP (Trans-Pacific Partnership)
• Bring trade relief cases to the world trade organization.
• Label China a currency manipulator.
• Apply tariffs and duties to countries that cheat.
• Direct the Commerce Department to use all legal tools to respond to trade violations.

The US trade deficit in goods is almost $800 billion on an annual basis. The trade deficit subtracts from growth and costs the US jobs. This has hurt working Americans because good-paying manufacturing jobs are hard to find. Less than half of the population 25 and older without a high school diploma is in the workforce; the unemployment rate of those who are in the almost 30 percent higher than the overall unemployment rate. This leads to poverty and an increase in demands on the nation’s social service network. Better trade policies can reverse this outcome dramatically.

4. Energy Reform

• Rescind all the job-destroying Obama executive actions including the Climate Action Plan and the Waters of the U.S. rule.
• Save the coal industry and other industries.
• Ask Trans Canada to renew its permit application for the Keystone Pipeline.
• Make land in the Outer Continental Shelf available to produce oil and natural gas.
• Cancel the Paris Climate Agreement (limit global warming to 2 degrees Celsius) and stop all payments of U.S. tax dollars to U.N. global warming programs.
• Lift restrictions on American energy to increase: Economic output by $700 billion annually over the next 30 years; Wages by $30 billion annually over the next 7 years; GDP by more than $20 trillion over the next four decades, and Tax revenues by an additional $6 trillion over 40 years.

Donald Trump is committed to clean air and water, without increasing the cost of electricity. Donald Trump is committed to an “all of the above” energy plan that would encourage, not discourage, the use of natural gas and other American energy resources that will both reduce emissions but also reduce the price of energy and increase our economic output.

5. Other Reforms, to be rolled out in the near future

• Obamacare repeal and replaced
• Infrastructure—28 percent of US roads are in substandard condition and 24 percent of bridges are structurally deficient or worse. Trump’s plan will provide the growth to boost infrastructure,
• Childcare— Childcare is now the single greatest expense for most American families — even exceeding the cost of housing in much of the country. Trump will allow families to exclude childcare costs from income, benefitting every family.
• Crime— Homicides last year increased by 17 percent in America’s fifty largest cities. That’s the largest increase in 25 years. More than 2,000 have been shot in Chicago since January of this year alone. Donald Trump is the law and order candidate in this Presidential race.

If these policies proposed by Trump are put in place, the following business sectors (beside defense contractors for military and update of weapon systems and equipment) will benefit:

1. Energy drilling companies
2. Pipelines builders
3. Gold mining companies
4. Coal mining companies
5. Biotech companies
6. Construction firms (bridges, roadways, utilities and airports)
7. Pharmaceutical companies
8. Food producers
9. Technology companies (including telecom and cybersecurity)
10. Regional banks and credit card companies