question from uk if trump is impeached is it bad for business, us economy and world economy?
- The TaxpayerLv 72 months agoFavorite Answer
"Impeached" is only a the process of a trail. It could be good for Trump. Until now the left-wing media and the democrat party has controlled the narrative. A trial process or impeachment process will allow things like cross-examinations where all questions are allowed and friendly witnesses/facts that up until now have been denied. The market and the world economy during this whole process has been unmoved. An impeachment will not exite or depress the market or anyones economy.
- OiyLv 52 months ago
It's unlikely so far. But if so, it might be the same as Trumpgate.
- Anonymous2 months ago
It actually could be good for business depending on whether they continue with the trade war Trump started with multiple countries or settle. The trade war is currently costing the US consumer, according to Federal government documents approximately $40 billion per which could be put back into the economy in the form of additional purchases. It would also force US companies to be more competitive since, as expected by most economists, the additional tariffs merely allowed companies to raise their prices and increase their profit margin. Although the initial effects did see hiring in certain sectors that has since slowed and, in several cases, reversed. The tariffs have benefited several foreign countries with the relocation of factories there in order to escape countervailing tariffs placed on specific goods in retaliation for those imposed by Trump. The dropping of tariffs would probably not change that however companies looking at the possibility of foreign expansion would probably stay, at least for the time being, in the US.
Trump has given several incentives that allowed the economy to keep growing and employment, at least until the present year, keep on track with growth during the last part of the Obama administration. He has increased company profits and allowed quicker expansion of facilities causing a general growth in jobs (excluding retail and mining which are both shedding jobs) by doing several things however they come with a caution such as:
Reduced environmental regulations - Trump through the EPA has eliminated a number of regulations put into place to encourage companies to take appropriate care of the environment. Regulations eliminated included those making companies responsible for future environmental damage and has instead placed the burden on future generations of consumers.
Reduced financial regulations - Trump eliminated a number of regulations relating to business finance. These regulations were put into place to help prevent the situation that caused the last recession so with their removal companies can again expand through the use of creative financing.
Tax cuts- Although Trump's tax cuts were not just for the wealthy an analysis of the benefits indicate that approximately 80% of them were to the ultra rich and large corporations such as Walmart. The claim was that the extra profits would trickle down in the form of jobs and re-enter the economy increasing overall tax revenue. According to the companies themselves only minor hiring and bonuses (excluding those given to upper management) were the result of this with most companies baking the money or using it to institute a stock by back program which saw their earnings per share increase without actually increasing profit. In the case of the working people, approximately 60% saw some tax cut benefits, 20$ saw little or none, and 20% saw an increase in taxes. The net effect of this has been to add approximately $1 trillion dollars to the US deficit over the past 3 years with the majority of that due to significantly lower taxes for the rich. For example, using the one year we have tax information available for on Trump, with his tax bill he is saving well over 10 times his annual salary as President in income tax each year.
- SilverLv 42 months ago
I don't actually think it will affect the economy at all.