'America First' triumphs in Davos
"America is open for business, and we are competitive once again." That was just one of the key lines in President Trump's highly successful speech in Davos, Switzerland, last week.
Of course, in going to Davos, Trump entered the lion's den. A year ago such a visit would have been a poor idea. Back then, elitist heads of state, European Union bureaucrats and international CEOs were uniformly against Donald Trump.
But Trump's 2018 Davos strategy was a brilliant stroke.
He could make the fact-based argument that, in his words, "The world is witnessing the resurgence of a strong and prosperous America."
And the core of his message was this: "There has never been a better time to hire, to build, to invest, and to grow in the United States."
In just one year, Trump's polices have begun to restructure the American economy. We've moved from secular stagnation (i.e. high taxes, massive regulation, huge government spending, and a disdain for business and investors) to a new private-sector incentive system that rewards success.
By slashing individual and corporate tax rates, providing 100 percent immediate expensing for plants and technology, and making it easy for big companies that fled our high-tax system to bring the money back home, he has ended the war against business and investment.
And it has happened faster than anyone imagined possible.
More than 250 American companies have announced gigantic investment projects, paid sizable bonuses to their workforce, increased 401(k) contributions, and raised corporate minimum wages and other benefits.