Obviously, Trump was not Silicon Valley's first choice. The question is, are there any aspects of a Trump presidency that will benefit San Joseans and San Jose businesses. Here is my best shot:
- Taxes
- Yes, Trump did indeed lower taxes in his first term. The benefits did not just impact the rich but impacted all individuals making $9,525 or more as well as married couples filing jointly making $19,050 or more per year. I would expect that he would keep these tax cuts and as a sign of good faith try to reduce them even more as soon as possible. This should be beneficial to San Joseans that are already used to paying the highest taxes in the country. Now, this will only be possible if the deficit is significantly reduced and that leads to the next item.
- Deficit
- Trump seems to be partnering with Elon Musk, who has promised to help significantly cut the deficit by identifying government waste. Elon has claimed that up to $2 trillion could be cut from spending by consolidating departments. Even if the amount is half that, not only would it enable further tax cuts but it would reduce the risk of America going bankrupt... which would surely devalue the US Dollar and severely impact Silicon Valley businesses.
- Safety and Immigration
- I am speculating that there will be a quick response to reduce illegal immigration across the border which may help reduce crime. My hope is that Trump will also focus on greatly increasing legal immigration. This should be both for quickly converting undocumented people that are contributing to our economy today as well as bringing in exceptional individuals from other countries. I know people that have tried for over a decade to even get a US work visa... it is extremely difficult. Ensuring we have enough talent in Silicon Valley is critical to our success, so I hope that a focus on greatly improving legal immigration will be a priority.
Am I missing anything? Tomorrow I'll go through the California measures.
