Trump is a bonanza for business: Varney
FBN's Stuart Varney argues Trump has opened a door for business to invest and grow—and they must perform.
Trump is a bonanza for business. Corporate America got pretty much all it wanted: Big tax cuts, red tape slashed, animal spirits released—all good.
Now, business has to perform. President Trump has opened the door and business has to walk through it, and invest and grow. Build and hire. Everyday Americans, voters, have to feel the benefits. The goodies have to filter down the food chain.
If business disappoints, the Democrats will pounce. Sens. Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt., are eager to roll out their familiar claim that the rich are getting all the benefits. And the media will definitely join that chorus. Business must surely know that the left would love to bring back all that regulation, and raise taxes all over again.
So far so good. Business is passing the money through to employees. Yesterday, American Airlines (NASDAQ:AAL) and Southwest Airlines (NYSE:LUV) promised $1,000 bonuses to all employees. AT&T (NYSE:T) and Comcast (NASDAQ:CMCSA) have done the same. Fifth Third Bank and Wells Fargo (NYSE:WFC) have raised wages. Boeing (NYSE:BA) will invest $100 million in employee facilities. The list of tax break pass-throughs is very long.
It will be a more difficult sell if companies put their extra cash into stock buy-backs or higher dividends—the left will scream at that because it smacks of "the rich getting richer.” Business will have to spell out, very clearly, how higher stock prices and dividends help everyone.
The bottom line here is that capitalism has been given a free reign. So our capitalist system has been given the opportunity to show what it can do. Don't screw it up, because if you do, the left will seize the moment and return America to the socialist road.
Heaven forbid!