Election Promises By Dr. Bobby Srinivasan and Dr. Sudhakar Balachandran

August 11, 2016 | Posted by bobbysrinivasan << back to blog

The US Presidential election is to take place on November 8, 2016. The candidates namely Donald Trump and Mrs. Clinton are about to debate several times in September and October 2016 explaining to its citizens as to what they plan to deliver if they are elected to the office. A few days back, with Gallup poll showing that Trump is trailing by 10 points and hence decided to address the nation with the following promises which I list them below.

Currently there are seven income tax slabs with the maximum tax rate at 39% of income. Mr. Trump says that he will reduce the number of tax slabs to 3 and that he will propose a maximum federal tax rate of 33%.
The current corporate tax rate is 35%. Mr. Trump has promised that he will eventually bring it down to 15% to improve the attractiveness of investment in the US.
The current North Atlantic Trade Agreement (NAFTA) between the US, Mexico and Canada according to him has taken away several hundred thousand jobs from the US. So he wants this multinational agreement reneged. Incidentally Mr. Clinton during his presidency was responsible for agreement in the first place.
The US funds NATO in a big way. He wants to reduce this funding and expect the other member countries to contribute their rightful share.
The school busing policy which has been a sore point among the US citizens will be changed to ensure that every child will have an opportunity to select the school of their choice.
He wants to bring about better and improved relations with Russia. This he believes will bring more peace in the Middle East and will enable him to destroy the ISIS levant movement.

These are his major election promises at this point in time. He has promised to release a detailed plan of action that he proposes to take if he is elected as the president. Being a shrewd businessman and with all the time efficiency productivity and profitability in his mind, he has the desire to deliver the above promises which is likely to be very appealing to all its citizens. The US has a government debt of 110% of GDP at 19.1 trillion and increasing. They never had a balanced budget for a very long time. For all these promises to deliver he has to find additional funds which I presume he will do by becoming more efficient in running the economy.

This reminds me of Modi’s promises of May 2014; while the fiscal disciplines are enforced among its citizens by bring more of them into the tax net including voluntary declaration. His budget is 3.9% of GDP (amounting to 5.3 trillion rupees). The new GST scheme will bring in copious flow of money. If the collection procedure is well established this deficit may disappear in the future budget. Our annual budget of 275 billion dollars in miniscule as compared to the US whose defence budget alone is in excess of 700 billion dollars.

Price stability, manageable inflation, relatively low cost of funds are a sine qua non for the economy. Let us hope that after the US election the global economy will improve from the current level of stagnancy. India will be a big winner then by attracting large FDI and FII investments

<< back to blog

About Us

TERM ZERO

Media

Rankings

Accreditations

NIRF

Campus

Blog

Annual Events

Full Time Programs

PGPM

PGDM

EXECUTIVE EDUCATION

Corporate Programs

PGXPM

PGPM Flex

MBA in Business Analytics

Family Enterprises Management

Ranked 6 ^th

Faculty

Research

Centers of Excellence

Conferences

Campus Recruitment

Internships

Placement Reports

Leadership Series

Talent Listings

Ranked 6 th

Ranked 6 ^th