Trump's Economic Revolution Is All About Investment

I’ve seen hundreds of articles on President Donald Trump and trade, but the real significance of the Trump economic revolution -- for better or worse -- is a focus on investment. There is no coordinating mastermind, but if you consider the intersection between what the Trumpian nationalists want and what a Republican Congress will deliver, it’s this: wanting to make the U.S. a new and dominant center for investment, including at the expense of other nations.

The Republican tax bill that passed the U.S. Senate early Saturday morning reflects a near-obsessive drive to lower the rate of corporate tax to 20 percent. This will very likely attract a significant amount of foreign investment. If fracking is making the U.S. the next Saudi Arabia, this tax cut will push the U.S. in the direction of being the next Ireland, at much larger scale. The underlying belief is that more investment will do so much economic good that it will offset the direct tax increase for many Americans.