Clinton a Better Choice for Business Say Economists

Gary Johnson. Photo by ronpaulrevolt2008
Gary Johnson. Photo by ronpaulrevolt2008

A survey conducted by the National Association for Business Economics showed that Hillary Clinton is the preferred candidate for president of the US by 55 percent to an embarrassing 14 percent for Donald Trump. As a matter of fact, Trump was not the second choice. Third party Libertarian candidate Gary Johnson had more support than Trump, with 15 percent saying they would prefer to see him as president. An additional 15 percent said they did not know or had no opinion.

The survey was conducted from July 20 to August 2 and included the views of 414 members of NABE.

Some of Trump’s policies seem to be contributing to his lack of support. Whereas Trump says he would like to nullify or severely restrict the North American Free Trade Agreement, 65 percent of business economists say US trade policy should be even more open and free versus only 9 percent who agree with Trump that trade should be more protectionist.

Trump has expressed a desire to deport illegal immigrants, but the NABE survey showed that only 8 percent agreed with that sentiment, while 64 percent said they would like to see a program to legalize undocumented immigrants who already live in the US.

Business Insider Lists Mo Abudu Top 100 Bus Visionaries

Photo of Mo Abudu taken by Nkemonwudiwe at en.wikipedia
Photo of Mo Abudu taken by Nkemonwudiwe at en.wikipedia

The only African appearing on the Business Insider prestigious list of 100 of the world’s most influential business leaders, Mo Abudu, CEO and Chairwoman of EbonyLife TV, was ebullient at receiving the recognition.

“This is a big moment for the entire EbonyLife TV team. Our goal remains to tell African stories and we do that by annually producing over 1000 hours of premium, original and home grown entertainment programming content. From Talk, Entertainment, Reality, Comedy, Drama, Lifestyle and Factual the channel boasts exclusive ownership of 90% of the content…”

Abudu shared the glory with other corporate starts as Bill Gates, Mark Zuckerberg and the CEOs of IKEA, Apple, Amazon, Google, Starbucks and Alibaba, who were at the head of the list.

Placing even 56th on the list is no mean feat, as it means coming in ahead of the heads of such popular companies as Spotify, Snapchat, Zara, LinkedIn, and Uber.

A group of analysts compiled the list, assessing companies from all over the globe, in the private and public sectors, in a large variety of industries.

EbonyLife TV recently began its third year and the most popular channel in the entertainment category. It has recently moved into more cities in Nigeria, and distributes programs to49 African countries, including South Africa and other countries of Southern Africa.

Because of Abudu’s list of successes in the TV entertainment sector, especially her popular talk show “Moments with Mo,” she has earned the nickname, “Africa’s Oprah Winfrey.”

Other women appearing on the list include: Kim Jordan, founder and executive chairwoman of the New Belgium Brewing Company; Rose Marcario, CEO of Patagonia; and Ellen DeGeneres of “The Ellen DeGeneres Show” and Ellen Digital Network.

New Estate Tax Rules May Face Opposition from Taxpayers and Their Advisors

The IRS may be heading for a fight with taxpayers as a result of proposed regulations which are meant to limit certain estate and gift tax planning strategies.

The regulations (REG-163-113-02) were issued on August 2nd, and they place restrictions on the use of “valuation discounts” which have the effect of lowering the overall value of assets in family-owned businesses. As a result, the decedent’s estate’s value, and therefore the gift tax liability, are reduced at the time of death. The way the IRS achieves their goal is by disregarding the limitations that allowed taxpayers to use such discounts before.

Principal at Pioneer Wealth Partners’ estate advisory group, Jonathan Blattmachr, foresees that, in terms of authority, the IRS and the Treasury department “will be ‘viciously’ attacked by taxpayers and their advisors.”

Yet the Tax Court could uphold the new regulations. The deference doctrine that was established 30 years ago by the Supreme Court decision of Chevron USA Inc versus Natural Res. Def. Council could be the precedent for upholding the regulations.

Blattmachr added that as far as the elimination of valuation discounts, the proposed regulations “would seem to eliminate minority (or lack of control) discounts for all family ‘controlled’ entities including active businesses.”

Google’s Project Wing Taking Off

Drone Fox-C8 XT. Photo courtesey of ZullyC3P.
Drone Fox-C8 XT. Photo courtesey of ZullyC3P.

The White House’s Office of Science and Technology Policy announced that Google’s drone delivery service, Project Wing, will begin testing in the United States. The step is part of a White House initiative to encourage research into safety measures and other issues connected to unmanned flight.

Tuesday’s email announcement stated that the National Science Foundation has budgeted $35 million over five years on research into unmanned flight, while the Department of the Interior is planning on increasing its use of drones.

The White House is following up on the Federal Aviation Administration’s June finalization of introductory regulations controlling drone flight, especially creating guidelines for acquiring unmanned pilot licenses and rules for commercial unmanned flights.

“Honestly, the way I think about these issues, I don’t think about the problems,” said Dave Vos, the head of Project Wing. “I think about the solutions that we can bring to bear.”

Vos was speaking at a White House event promoting drone technology.

Creating the Future Dream Team for our Economy

Certainly, the elections are taking up head space for just about everyone. Reuters has gotten into the act, offering a fascinating list of experts who they believe just might be able to help the American economy. What they’ve done here is place these potential candidates for key economic positions on their site under Hilary Clinton and Donald Trump. Each of these candidates has been rated along six lines based on their prior experience and achievements.

Readers are able to hover over each of the candidates, who include such esteemed names as David Cote, Mark Cuban, Brian Deese, James Donovan, Richard Davis and Bob Corker (just to name a few).  Readers can then drag and drop their favorite candidates from each side into various roles and points will be tallied with final scores showing what the people feel would work the best for America’s future.

Possible roles for consideration include the Treasure Secretary, National Economic Council Director, Federal Reserve Chair, Secretary of Commerce, Chair of the Council of Economic Advisers and more.

This analysis can serve important for a few reasons. It offers a glimpse into what people think about their candidates and the economic issues facing America today. It also requires readers (and future voters) to think about their presidential candidates and the cabinets they will put together and to get to know the many economic minds out there including Lael Brainard, Sherrod Brown, Ursula Burns, James Donovan, John Chambers, Elaine Chao and so many others.