What’s the consensus on how the Trump presidency years have impacted business?
For those who were in business for themselves both before and after 2016, have you seen any noticeable difference in your income or taxes that are directly attributable to our current president being in office?
I’m not interested in anyone’s political affiliation or where people stand on the “issues”. All I’m asking is whether your business (and only your business) has been better or worse over the past 4 years, and if you have verifiable proof that Trump’s policies are to thank (or blame) for this change.
For me, things have been awesome in the last few years with the trump economy. Still going well even this year. Whether you like him or not, if you follow the policy creation trail, he has been a great friend of small business.
I'm in the gold mining business, and things have been great. Primarily owing to the major upsets foreign and general monetary policy. Turmoil is good for gold. 2016-2021 is a major breakout session for us. We've gotten a bumper crop of chaos beginning in May 2019, so we're doing well.
There's also the consequences, I'm an american living overseas...I can't get in an Uber without having a 20 minute conversation about Donald Trump. You're not going to believe this...but the guy is actually not as popular as he'd like to think.
@Cory I have no doubt these years (especially this year) have been good for gold. I can also believe that Trump isn’t beloved around the world. What country are you in?
@jawollbrink Jason, can you point to a specific policy that made a big difference in your business that otherwise wouldn't have if Trump hadn't created it? Do you also feel that the success of your business is the result of such policies and not necessarily your hard work nor the state (and upward trend) of the economy when Trump took over in 2016-7?
The GOP has historically been better for tax mitigation strategies for business. However, the population lacks the financial IQ to make them relative. In my own experience, I had to hire 2 tax attorney's/CPA's and go through a few bookkeepers to maximize the amount of tax free money and reinvestment I could make annually. For years, I just invested in traditional IRA's with basic mutual funds and lack luster returns. With that being said, I did not vote for trump, since I am over the drama. I have made money, in my businesses, for over 25 years and will continue to do well. There will always be opportunities regardless of the political leadership.
I have made money, in my businesses, for over 25 years and will continue to do well. There will always be opportunities regardless of the political leadership.
@Cory - just came across your comment where you said you're in the gold mining industry. I have an opportunity to buy 3 patented mining claims in Oatman, AZ. I priced this just like any regular land, but was wondering if you could offer any insights about whether the mining claim has any value? The deal makes sense even if the claim has no value, but just curious if maybe it could be worth even more due to the claim?
@dbusch - my uncle owns a property like this in Prescott, AZ. It's a hundred year old gold mine, and the mineshaft is right there by his house, but it's obviously not in use (I would presume its flooded).
My short answer is, I don't know... but my gut tells me it's more about novelty than it is about actual, redeemable value.
It actually is pretty cool to tell someone that you own a literal old gold mine, but practically speaking... will a mining crew really come out there and keep working the minerals out of the ground in in this day and age? If the value proposition was really there, it seems like you'd have people lining up to do this, or they would've already done it by now instead of selling off the land as a residential lot.
@retipsterseth thanks for the reply, and sorry for just seeing this now! I've actually found it to be incredibly hard to get any info at all on this property from the agencies I have called. I was able to confirm that Oatman has the most active gold mining in Arizona, and there are active mines somewhat near the properties we are looking at. I do agree about the novelty. Adding to the novelty is that the seller has the original claim documents signed by 2 former US presidents which is pretty cool. These aren't residential though, they are a combined 55 acres in a pretty off grid area. We're still trying to do some due diligence, but I'll post an update if this turns out to be anything more interesting than just a vacant land deal. Thanks again.