Many of us voted for Donald Trump for president to reform government, bring back real economic prosperity, and put an end to the politically correct policies of the last seven plus years of the current administration. One of the most important positions in the cabinet he will appoint is the Treasury Secretary, and Loews Corporation CEO James Tisch is the kind of candidate for the job that conservatives should endorse.
Like Trump, Tisch has strong views about what needs to be done to bring back the economy. He understands that long-term capital gains taxes, and corporate taxes, are too high and lowering them will increase economic growth, create more jobs, and also increase revenues flowing into the U.S. Treasury. Tisch has pointed out that long-term capital gain should be reduced to the rate of other capital gains and corporate tax rates should be no higher than individual tax rates.
One way to thwart economic growth and make the country more dependent on foreign energy would be imposing a “windfall profits tax” on American oil companies, an idea advocated by many prominent Democrat politicians. Tisch calls this a “really dumb idea,” and further says, “I can’t be diplomatic about it. All a windfall profits tax will do is cause us to rely more on OPEC and foreign energy producers.”
Tisch also takes a reasonable stance on the global warming controversy, stating that the science on the issue should be fully examined before imposing a draconian cap and trade scheme on the economy. He also believes it would put the United States at disadvantage to adopt a cap and trade scheme unilaterally since manufacturing operations would be moved to countries that don’t impose carbon taxes.
Tisch has run a great company with strong assets and very little debt, much like The Donald himself has. Loews is a conglomerate holding company that owns several lines of businesses that has more than $4 billion in cash while only having about $875 million debt. Tisch runs the company in a very conservative manner, looking only for strong long term investments when buying businesses.
Tisch says about Loews, “we like to buy strong, solid, traditional businesses that are not, in any way, a fashion business. When I say fashion business, I’m not just talking about clothing. I’m talking about high-tech businesses, businesses where you have to recreate yourself every few years or you need to develop new products. We like businesses that we know are going to be around for the next two, three, four, five decades and businesses that have a real need and niche within our economy.”
James Tisch will be a great team member to help President Trump reform government and put in place strong prosperity policies to create a huge economic expansion and create tens of millions of new jobs. Tisch is the strongest candidate for the job, the most eminently qualified for it, and he has the right views on how to grow the economy. There is no doubt he should be Donald Trump’s choice for Treasury Secretary.