A Donald Trump presidency would benefit Wall Street investors by way of making companies 30 percent more profitable, Trump's economic policy adviser Wilbur Ross told Newsmax TV.
Trump, the Republican presidential candidate, will bring his business knowledge to the White House, Ross told host J.D. Hayworth on Tuesday's "Newsmax Prime."
"Here's why Trump would be better for Wall Street investors than Hillary [Clinton]: 30 percent effective reduction in taxes going from 65 percent carried down post-tax to 85. That's a 30-percent increase in every company's earnings," the financial investor said. "Can you imagine what your portfolio would do if every company earned 30 percent more?"
Watch J.D. Hayworth on Newsmax TV: Tune in beginning at 8 PM EDT to see "Newsmax Prime" – on FiOS 615, YouTube Livestream, Newsmax TV App from any smartphone, NewsmaxTV.com, Roku, Amazon Fire – More Systems Here
Ross also addressed unemployment, saying Trump's proposed changes to America's trade policy will put people back to work.
"Here's how: by bringing trade back, bringing jobs back that had been exported," Ross said when asked how Trump's plan will work. "We'll be exporting products, not jobs.
"That's a big difference between the current policy and ours. The people on the left seem to think all trade agreements have been wonderful.
"Let's take the Mexican one that's been talked about a lot: Prior to NAFTA we had a $4-$5 billion a year trade surplus with Mexico. Guess what the cumulative trade deficit since NAFA has been? $1 trillion."
© 2023 Newsmax. All rights reserved.