How Can Trump Make the Country Great Again for Business?

Will True Tax Reform Happen in Our Lifetime?

President Trump has made, and continues to make a lot of promises to all Americans about taxes and the economy. Throughout his campaign the president continued to push his “Make America Great Again” slogan to the delight of all those who helped him get elected. Obviously, his message resonated with enough people in the right places in order for him to win the White House. Since he took office he has been busy with many issues, including immigration and healthcare reform. At the same time, there continues to be a lot of talk regarding tax reform, including how it will affect the business world the and nation’s economy.

It’s All About Jobs

Time will tell if real change is coming and who will be the most affected by it, but the business world is eagerly waiting for those promised changes to come. So with that in mind, what things should the president be focusing on to truly make the country great again for business? The real key is to start by creating more jobs in the United States. However, it’s not just more jobs, but the president and his administration need to create more good jobs. So how will they accomplish that?

Start With Infrastructure

Our country is lagging in infrastructure. Our basic organizational and physical facilities and structures, such as freeways, highways and airport systems all need improvement. When compared to emerging market economies and countries it’s clear that the U.S.’s infrastructure is not something that can be overlooked. Improving this would no doubt increase jobs across many levels.

Create and Promote New Industries

One of the greatest ways to increase jobs and improve the economy is by encouraging new innovations. If you consider just a few of the new industries that have been created in the last decade, it’s easy to see how many more new jobs could be created if other new industries emerge as well. For example, consider the impact of things like social media, Internet retail, electric automobiles and virtual reality. More new industries such as these could lead to millions of jobs and billions of dollars.

Consider Middle America

There are several changes that could change Middle America, or the Middle Class, and help increase jobs. For example, focusing on growing middle-market companies could be a huge boost for job growth. Likewise, giving the middle class a large tax break would help improve the economy and in turn increase job production. Another step in this direction is to move certain industries to middle America. One idea is to create and fund a Rural Industrialization Act, which would move many jobs back to rural areas in the country. In addition, by expanding and building on the Small Business Act of 2013 the administration could also help promote new job creation.

Expand Immigration

Lastly, although the new administration has been very outspoken and active in reducing the number of immigrants to our country, there are several industries that could use even more. Many of the most highly skilled and intelligent people in the technology industry come from other countries. By allowing more of these individuals to live and work here, the advancements in many industries could be improved, which could have a positive affect on employment and the economy.

Posted in

How to Efficiently Scale With Capital

  The goal of most startup companies is to achieve growth and profitability. However, the process of achieving those goals can be different for every company. The key to long-term success for most startups is to scale with efficiency, but that is not always easy. I recently read an interview by Alan Olsen, CPA and…

How Will the New President Change Taxes for the Wealthy?

  So which side are you on? Trump, Cruz, Clinton, Sanders, a write-in candidate, or are you still hoping for an optional third-party independent candidate? The fact is, when it comes to taxes, no matter which candidate you vote for, things will likely be changing for the nation’s wealthiest taxpayers in 2017. Whether or not…

Top Tips to Remember When You Can’t Pay Business Taxes

Business taxes can be a nightmare for a lot of companies; especially small businesses that are trying to stay afloat. Things can get even tougher when it comes time to file your return and you end up on the wrong side of the ledger. So what should you do if you end up owing more…

First Half of Current Fiscal Year a Record-Breaker for U.S. Treasury

It’s been another record year for the federal government so far, which is in the midst of its current fiscal year. At the end of March, when the government reached its halfway point of the 2016 fiscal year, it had already collected $1.48 trillion. One might think that this massive haul would help ease the…