Tom McInerney and Erin Cassidy,
Only a Trump economy could fund the lacking defenses.
In order to rebuild the U.S. military the next president is going to have to do the following things with the economy.
The next administration must design a growth plan that will allow the U.S. economy to expand at a 3 percent to 6 percent rate per year. Only Donald Trump’s plan has the opportunity to do this. It can be accomplished by the following these important actions:
• We must become energy independent within three years, and that should include Mexico and Canada. Energy independence creates the economic environment that can grow millions of jobs over the four-year period. A President Trump will take the handcuffs off our energy resources.
• Obamacare must be terminated immediately as it has already become a sinkhole for federal funds and increased costs of medical care in the country.
• The nearly $2 trillion that U.S. corporations hold in overseas banks should be granted a one-year tax holiday if they bring them back and invest in U.S. companies with modernized plants and production. This fiscal stimulus will have a huge job creation effect and the 93 million Americans without full-time jobs will be back in the work force again.
• The corporate income tax should be reduced from 35 percent to 15 percent. Not only will this stimulate jobs by U.S. corporations, it will also enable them to keep their plants in the United States as well as bring back others from China, Thailand and Mexico. In addition, a favorable tax structure will encourage foreign corporations to relocate to the U.S. This is an important addition that people have not fully understood. Those who say that cutting the corporate tax rewards the wealthy do not understand the job creation impact it will have. A fully employed American work force will give a substantial increase to U.S. tax revenues as demonstrated during the Kennedy and Reagan administrations.
• We must eliminate the huge number of regulations the Obama administration published during the last eight years. Today this burden costs the United States $108 billion annually in inefficiencies. This is just not acceptable and it is one of the major reasons why the administration has had one of the lowest growth rates in our history. Growth and wealth creation must be our objective.