Investors are harmed by anti-business government policies such as “Obamacare” that create uncertainty about the cost and effect that they have on businesses, Donald Trump told Eagle Daily Investor in an exclusive interview.
Poor decisions by lawmakers can disrupt markets and reduce the value of investments, Trump complained. Trump, a proven deal-maker, negotiator and real estate mogul, contends that business professionals dislike ill-fated policies in the United States and other countries because they reduce the value and profitability of their companies.
“Investors are very uncertain as to what’s happening in the future and with the future of this country,” Trump said. “They have Obamacare; they have lots of different uncertainties, and one of the things that I find in business is that they want guarantees. A business person wants guarantees as to what’s going on, as to what’s going to happen. They just don’t know what’s going to happen.”
Obamacare is a term used to describe a controversial national health-care insurance program approved by Congress and signed into law by President Obama on March 23, 2010. Investors understand that Obamacare is bad for the U.S. economy, Trump said.
“They do know that Obamacare is a total disaster,” Trump said. “They don’t want to have their taxes raised, because if they do, they’re going into hibernation.”
With tax hikes on the horizon, people will be deterred from investing their money and taking business risks, Trump said.
“The economy is at a very fragile point,” Trump warned. “If we start raising taxes, especially in light of what’s going on with oil — which Obama should be able to solve, but he’s not solving — it creates great uncertainty, and that’s very bad for the market and for investors.”
Obamacare, officially called the Patient Protection and Affordable Care Act when it passed into law, was described by the Cato Institute as the most significant transformation of the American health-care system since Medicare and Medicaid. A report from the institute found that law will hinder people from making their own health-care decisions, place “huge burdens” on the U.S. economy and expand the federal government’s already massive debt of roughly $16 trillion.
In Trump’s recently published book, “Time to Get Tough,” he wrote that Obamacare is a trillion-dollar government boondoggle that is sure to “unleash unbelievable corruption and criminality” on the American taxpayer. He also characterized Obamacare as a “job-killing, health care-destroying monstrosity” that cannot be “reformed, salvaged, or fixed.”
Obamacare is scheduled to take full effect in 2014, if the mandate for individuals to obtain health-care insurance is not overturned by the Supreme Court, which heard arguments March 26-28 on whether the law is unconstitutional.
“If it’s not repealed before then, it will be more than just another failed government entitlement program — it will be the trillion-ton weight that finally takes down our economy forever,” Trump wrote in his book.
President Obama’s health-care takeover has created a major disincentive to hire new workers, Trump explained.
Another example of government intrusion in the activities of the business took place recently in Scotland, where Trump testified on April 25 before the Parliament’s economy, energy and tourism committee against a plan by government leaders to erect an offshore wind farm. Trump argued that wind farm, which would feature 11 200-foot (60 meter) wind turbines, would discourage tourism at his venue.
Scottish government officials have supported the wind farm as a way for the nation to become a leader in renewable energy, while Trump is claiming that the turbines are “monstrosities” that would spoil the view at his $1.2-billion ($750-million pound) golf resort in Aberdeenshire.
Regnery, the publisher of Trump’s book, and Eagle Daily Investor, share the same owner, Washington-based Eagle Publishing, Inc.
Paul Dykewicz is the editor of Eagle Daily Investor.