I was absolutely wrong about Donald Trump. I honestly thought he’d be some sort of right-wing nationalist; the anti-Obama only inasmuch as who would drive the big government bus.
I was absolutely wrong (I am saying this again for emphasis).
Tax reform interested me because it effectively removed the individual mandate penalty required by Obamacare, tax reform hooked me with the rate reductions, but tax reform won me over with two things: corporate tax cuts and the one-time repatriation of capital tax reduction. I dont need to harp on the efficacy of tax reform because you can see proof of it here.
The REAL bonus of the Trump Presidency is regulatory reform, Trump is unmatched by even Reagan on regulatory reform:
In fact, during the Reagan presidency, both the Federal Register and federal regulations decreased by more than one-third. And as impressive as this record surely was, it’s already been broken by Donald Trump.
Upon taking office, Donald Trump signed an executive order telling federal agencies that they must cut two existing regulations for each new regulation proposed. Contained within this executive order was the demand that each federal agency create a task force with the explicit purpose of finding regulations worth slashing. This act was intended to help the newly sworn-in president reach his promise of cutting 70 percent of all federal regulations.
Seventy Percent. Read that again– 70%. That figure is mind-boggling to this libertariansh author. Income taxes are an appropriation of property by force. Thus, they are easy to illustrate as immoral but the insidious operation of a command economy is harder to illustrate to people. Regulations can prevent competition, artificially inflate prices, and essentially steal the wealth which is produced free trade. Trump intends to do away with 7 out of 10 regulations on the Federal Register.
Everybody loves tax cuts but reducing the bureaucratic state is a real path to economic freedom. On THAT, Trump’s actions are unparalleled…
…even by Ronald Reagan.
I thought Trump was going to be a corporatist like Obama. I could not have been more wrong.