An opinion piece outlining five key policy recommendations for the Trump administration to boost the American economy and improve the well-being of its citizens.
Here's my wish list for the incoming Trump administration to make America healthy and prosperous and great again in 2025. 1. Slash job-killing regulations The regulatory state is a $2 trillion tax on the American economy. We all want worker safety, a clean environment and consumer protections, but in too many cases the costs of regulations far outweigh the societal benefits. President-elect Donald Trump has promised to slash 10 rules for every new rule. Just do it, Mr. President. 2.
Make the Trump tax cuts permanent As JFK, Ronald Reagan and others have proven throughout history, lower tax rates lead to more growth, more investment and more jobs. The Trump tax cuts meant that a typical family of four earning $75,000 a year saw their tax bill fall by half — a benefit valued at more than $2,000. And the corporate tax rate fell from 35% — the highest in the world — to 21%, bringing jobs and capital to America. Trump has promised to make all these tax cuts permanent. Why? Because they worked almost exactly as we anticipated they would. TRUMP'S MESSAGE ON THE ECONOMY 'RESONATED' WITH AMERICANS, SAYS EX-OBAMA ECONOMIC ADVISER 3. Replace welfare with work Growth will require more able-bodied Americans getting off welfare and into jobs. Welfare — which includes cash assistance, public housing, food stamps, disability payments, unemployment benefits and Medicaid — needs to be a hand up, not a handout. 4. Use America's abundant natural resources America has well more than $50 trillion of natural resources that are accessible with existing drilling and mining technologies. This is a vast storehouse of wealth that far surpasses what any other nation is endowed with. We can use the royalty payments and leases to reduce our national debt while creating hundreds of thousands of jobs.
ECONOMY TAXATION REGULATION WELFARE NATURAL RESOURCES
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