Wall Street is Rubbing Its Hands Together
The 2020 U.S. Presidential Election: A Windfall for the Financial Industry
The 2020 U.S. presidential election is likely to be a major windfall for the financial industry, regardless of who wins. The candidates’ proposals on issues like taxes, regulation, and trade will all have a significant impact on the industry’s profits.
One of the biggest issues for the financial industry is taxes. Both candidates have proposed tax plans that would affect the industry, but it is unclear which plan would be more beneficial. For example, President Trump has proposed lowering the corporate tax rate from 35% to 15%, while former Vice President Joe Biden has proposed raising the rate to 28% and eliminating certain tax breaks that benefit the wealthy. These proposals would have a significant impact on the financial industry’s profits.
Another major issue for the financial industry is regulation. Both candidates have pledged to increase regulation of the industry, but it is unclear how far they will go. Trump has proposed rolling back some of the regulations that were put in place after the 2008 financial crisis, while Biden has pledged to strengthen those regulations. The outcome of these debates will have a significant impact on the financial industry’s ability to operate.
Finally, both candidates have proposed changes to trade policy. Trump has proposed a number of protectionist trade policies, while Biden has pledged to promote free trade. These proposals would have a significant impact on the financial industry’s exposure to global markets.
In conclusion, the 2020 U.S. presidential election is likely to be a major windfall for the financial industry. The candidates’ proposals on issues like taxes, regulation, and trade will all have a significant impact on the industry’s profits. It remains to be seen which candidate’s plans will be more beneficial for the industry, but it is clear that the election will be a major turning point for the financial industry.
Kind regards,
E. Thompson
