Could The Donald be the next Ronald Reagan? Excerpt:
It wasn’t so long ago that everyone knew Donald Trump couldn’t possibly be the Republican party’s nominee for president. Now that he may very well be the nominee, everyone knows he couldn’t possibly win in November.
Indeed, everyone knows he’ll lose in a Goldwater-esque landslide, handing the White House and the Congress to the Democrats.
But what if that’s wrong, too? What if he wins? Well, in that case, everyone knows he would be a disaster as president.
I’m considering this from the standpoint of an investor. At first glance, it would seem that there are only bleak choices here for the U.S. economy.
If Trump loses and costs the GOP control of Congress, we face at least two years of Democratic one-party rule like 2009-2010. Get ready for higher taxes, more federal regulations, single-payer national health care, union card-check, a ban on fracking and a Supreme Court stacked left for a generation.
If Trump wins, get ready for protectionism and lots of it, and a raft of other loony ad hoc populist assaults on the economy.
The Donald has put forth some great pro-growth policy proposals, chief among them reducing the jaw-droppingly stupid corporate tax rate from 35% to 15%. He’s proposing a reduction in overall marginal tax rates – a move the Democrats will screechingly denounce as “cutting taxes for the super-rich,” defining as they do the “super-rich” as anyone that, you know, actually pays taxes. But his trade protection ideas hearken uncomfortably close to the trade-protectionist halcyon days of Smoot-Hawley, the tariff act that, more than any other single event, gave rise to the Great Depression.
Be he an Imperial-sized disaster or the Second Coming, next Reagan or rebirth of Caesar, the GOP better get used to the idea of Trump as their candidate; not even second-place Ted Cruz has any real path to the nomination any longer. And let’s be honest about one thing: The Donald will absolutely savage Her Highness Hillary I in any debate forum. He may be short on facts but he will be long on attacks, and in our modern era of bumper-sticker politics and an electorate sick to death of mealy-mouthed prepared PC remarks, that may just be enough to land him in the Imperial Mansion.
Then, I suppose, we’ll see what we’ll see. Maybe he’ll start chopping some of the useless Imperial bureaucracy – and, in fact, I have some thoughts on that. Tune in tomorrow!