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Is President Trump Good For Business?

July 17, 2017
Plain English Version

Donald Trump and small business leaders. Duck issues two-for-one regulatory rescission order. Photo: Andrew Harrer / Bloomberg

Most of what you read about President Trump and business is about trade and jobs. He wants trade agreements that favor America. He wants American companies to stay in the U.S. and not send jobs to other countries.

These ideas went over well with many U.S. voters. Other countries of the world are not as pleased. At the recent G20 meeting in Germany, they made their support for free trade clear.

But trade and jobs are not all there is to the issue. There are businesses that rise or fall based on government decisions and actions. An example of the impact of presidential decisions? The election of Donald Trump hurt one business when he became president.

That business is the gun industry. When Democrats are in power, people rush to buy guns. They fear that their right to own guns is in danger. When Trump became president, gun sales dropped. Some gun stores are going out of business. Mergers between gun makers are not happening. The stock prices of these companies are going down.

Another industry is doing well. That is the bail bond business. Bail allows people to stay out of jail while they wait to go on trial. A judge sets the cash amount of the bail. If someone looks guilty and commits a serious crime, there may be no bail. The person stays in jail.

Most others have a modest amount of bail set. When they do not have the money to pay the bail, they borrow it from a bail bondsman.  Some advocates say that bail is unfair to lower-income people. Some states now leave the decision up to the judge to free, or not free a person awaiting trial. Money to pay bail is no longer a factor.

Bail bondsmen in these states were in danger of going out of business. Here, Donald Trump helped save a business.

The U.S. government is now locking up more undocumented immigrants than ever. Many are awaiting hearings. Bail bondsmen have found a growing source of income from these undocumented immigrants. Bail money can get you out of detention. Most immigrants who have lawyers will know how to go to a bondsman. They usually need someone to co-sign the bail amount. Or they can put up a house or car to make bail.

Did President Trump mean to hurt the gun business or help the bail business? He did not. Fewer gun sales and a rising number of immigrant detentions are just the new facts of life. As always, some businesses make money, and some lose money.

Source: The New York Times July 11, 2017

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