Based on personality, tax and economic policies, financial advisors are understandably split on Donald Trump. Here’s what they’re saying.
After the Super Tuesday primary elections, it looks like Donald Trump’s chances of getting the GOP nomination have risen significantly. He won 7 out of 11 states, and the billionaire real estate icon is plowing full steam ahead with his campaign. But many financial advisors fear what may happen to both the country and the economy under his bombastic personality and somewhat radical views. His failure to lay out a coherent plan of government combined with his dictatorial nature may make for a very unhealthy combination if he gets into office. But the growing ranks of Republicans who have become disillusioned with the GOP have continued to support him despite his harsh attacks on opponents and complete willingness to speak his mind. (For more, see:Donald Trump: Introduction.)
Why Advisors Love Him
One of the biggest reasons that many advisors may support Trump is his proposal to lower the current tax rates and broaden the tax base. This would be coupled with a move to eliminate many tax deductions, which would greatly simplify the tax code. Trump may also be in line with other Republican candidates who favor fiscal solutions to some of our economic problems such as corporate tax reform in lieu of having to constantly depend on monetary policy. Many advisors feel that the equity markets would reward investors as a result of corporate tax reform, which would of course bring a positive impact to their bottom lines. And while his rhetoric about building walls to keep out illegal immigrants may sound outlandish, he might end up taking more sensible action about America’s problem with illegal immigrants, which could curb their drain on our infrastructure.
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