The last time America had major tax reform, Oprah Winfrey launched her show, Hands Across America was a thing, Phantom of the Opera made its debut, and Apple released the IIGS for $999.00. I think it is time for tax reform.
One of Trump's significant problems - he doesn't understand American politics - its mores, customs, conventions, way of life, traditions, practices, and habits. None of it. It has all escaped him.
But you can't blame him. He doesn't know any better. Here is a guy who has built a brand of bravado and vanity over three decades maximizing his personality. A personality that built a fortune, expanded him into pop culture television, and now the White House. He did this all by himself. Trump is Trump's only advisor, kitchen cabinet, and life coach.
Why this matters for his current job? Because personality can help you win elections, but it can't help you pass policy, especially tax reform.
The special interests, stakeholders, and pressure groups involved in this debate are endless. Unlike most legislation, tax reform hits every sector, state, and subject of the nation. To pass tax reform will require a massive coalition, reaching across the aisle, working with governors, opening a candy shop, giving credit to others, and being focused on the end game and not the attention.
All signs to the present suggest Trump won't be able to get this done.
First Brexit and now Uber.
Can London get its mojo back as the global financial center of cool?
Welcome to the politicization of the boardroom and ballot box example 102: Yesterday, UK Prime Minister Theresa May defended Uber on the same day she attacked Boeing.
Spain is on edge as Catalonia votes on Sunday for independence. With intense pressure from Madrid to halt the vote, referendum organizers say they’ve stashed ballot boxes in secret locations throughout the coastal region and Catalan President Carles Puigdemont has said he would declare independence within 48 hoursof the final count. Accounting for 20 percent of Spain's output and home to Barcelona, the nation's second-largest city, the Madrid government has no choice but to stifle the vote and keep the region within Spain.
Regardless of Sunday's outcome, the trends for Spain are not positive. The endless push for Catalonia freedom will eventually hurt the economy and discourage long-term investment.
The mantle of setting global automotive standards are about to shift from California to China. With the Middle Kingdom's announcement that will require car companies to accelerate production of electric vehicles by 2019— the policy announcement will shape global auto production as the industry bends to the will of the world’s largest car market.
Currently, Ford and General Motors are both selling more cars in China than North America. This isn't going to change anytime soon.
Have a great weekend.
Let me know if I should see American Made, Lucky, or Mark Felt.
Ross Rant | September 29, 2017
