VIDEO: Trump Transition
Tuesday 15 November 2016 / Hour 1, Block A: Steve Moore, Trump economics advisor, in re: Mkt was down 800 points mid-evening, then 400, then 200; opened at 300 +; and hit 900+ points above last week.
Opposite: bonds are selling off – interest rates are rising: a sign of growth.
I just love the Trump rally: tax cut, bz, deregulation. Larry and Steve Moore have spoken of these for years. Brady Bill. Steve Moore was in a meeting with Congressional whips today. My fave moment was when Paul Krugman was asked: “When will the mkt recover?” “Never!”
Congressional whips: I sais that working-class Americans won this election, by many union workers who’d never voted GOP before; we have a tremendous responsibility to deliver to the people – energy, deregulation, et al. As Larry says, the beneficiaries of a corp tax reduction are the employees.
Repatriation of US capital at a 10% rate, and use that or the infrastructure program - I believe we can get some Democrats to vote for it. Might be $3 trillion. We also gotta reduce the personal tax rates - let’s spread the guilt around.
I want the infrastructure really to help us pay for — “Larry: Expensing?” “Yes. Creating an [envt] for investment – anything they want to invest in. I want to be sure there’s enough money to cover the largest tax cut since Reagan, and maybe the largest bz tax cut in American history.”
Repealing Obama Exec Orders – he’s passed almost zero legislation; almost all with a stroke of a pen, making them easy to repeal. I feel strongly about the clean power bill: put the coal miner back to work; it’s they who voted Mr Trump in.
Recall the investment surtax, the cap gains tax, and on vaccine producers and medical devices – why??; plus a payroll tax, and investment tax: these have done a lot of damage. Broken the morale of the country.