The administration has done the very necessary bureaucratic forestry of cutting back much of the regulatory underbrush.
And Trump and Republicans passed their tax cuts – which were aimed in no small part at people who hire people. Since they’re about the only ones left who pay income taxes.
Trump and the Republicans know what basketball Hall of Famer Charles Barkley once said:
“I’ve never seen a poor person hire anyone.”
There was a lot of economic growth left lying around by the Barack Obama Administration. Who was the first president in our nation’s history to never, ever have a year of at least 3% Gross Domestic Product (GDP) growth.
Obama set his entire administration – to actively attacking our economy. Trump coming in and just calling off the government dogs – was going to result in growth.
Which is why the stock market skyrocketed upon Trump’s election. The Street knew the economy had been saved from further abuse by a prospective Hillary Clinton Administration.
But Trump and the Republicans were pro-actively pro-economy with the regulation and tax cuts. So we have enjoyed even greater growth.
Manufacturing jobs, we were told, were gone forever. “Yesterday’s jobs” we were told.
“President-elect Trump’s promise to bring back production jobs ignores the realities of advanced manufacturing.”
Except…they’re coming back. Huge.
These jobs never should have left. And wouldn’t have – were it not for decades of really dumb policy.
But while they aren’t yesterday’s jobs – they are only today and tomorrow’s jobs. In the future – they will more and more be automated.
To keep the Trump Boom booming – we need improvements and advances in our information infrastructure. Because we are absolutely in the very early stages of the Information Economy.
Ideas – Intellectual Property (IP) – are becoming more and more important. Ideas fuel the Information Economy. And ideas were not spared the Obama Administration assault.
No administration in our history was as anti-IP as was the Obama Administration.
Obama was unilaterally awful. And Obama signed a ridiculous, ridiculously-Republican-sponsored law woefully misnamed the America Invents Act.
Almost inarguably the dumbest portion thereof – was the creation of the Patent Trial and Advisory Board (PTAB).
The US Patent and Trademark Office (USPTO) exists to approve IP. PTAB has turned the USPTO on its head – into an entity that murders IP.
The USPTO goes through an exhaustive and years-long process prior to approving patents.
USPTOs PTAB destroys the patents the USPTO just exhaustively researched and finally approved – in just a few days or weeks.
Worldwide, renowned, massive patent thieves like Google – would rather steal patents than pay the Little Guy Inventor for them.
The PTAB has been VERY helpful with the heists. The vast majority of PTABs rulings have been for the worldwide, renowned, massive patent thieves like Google – and against the Little Guy Inventor:
“The USPTO’s most recently published IPR statistics show that the odds still greatly favor the patent challenger.”
A single PTAB challenge costs each side at least $200,000. For a Little Guy Inventor – that’s a LOT of coin. For a worldwide, renowned, massive patent thief like Google (Market Cap: $698 billion) – that ain’t nothing.
Which is why worldwide, renowned, massive patent thieves like Google use PTAB – rather than pay the Little Guy Inventor. It costs them relatively nothing. And they win way more often than not.
Oh: And should the stars align and the Little Guy Inventor actually win a challenge – the worldwide, renowned, massive patent thief like Google just tweaks the wording and files a “new” challenge. And another. And another. And another….
Or a gaggle of worldwide, renowned, massive patent thieves like Google – coordinate to unleash an avalanche of PTAB challenges down upon the Little Guy Inventor.
Burying the Little Guy Inventor in challenge bills he can not even dream of paying. So the Little Guy Inventor is forced by the USPTO – to relinquish the patent the USPTO had just given him. And hand it over to the worldwide, renowned, massive patent thieves like Google.
Oh: Obama’s last head of the USPTO was Michelle Lee. And what was her gig immediately prior?:
“She was Deputy General Counsel for Google and the company’s first Head of Patents and Patent Strategy.”
What an amazing coincidence.
Lather, rinse and repeat all of these anti-IP atrocities – for nearly a decade now. And then this happens.
And then this happens.
“Read carefully what China is saying about IP – and it becomes clear what they are really doing.
“Which is setting themselves up to be the recipient of the massive investment coin that will leave the US – as our IP protection continues to deteriorate.
“What China is establishing – is the latest version of their China First protectionism.
“China has spent the last several decades doing this to other US economic sectors – most notably manufacturing.
“The IP pattern and plot-line…is disarmingly similar.”
God bless Donald Trump for bringing back so many of the manufacturing gigs with which China and many other nations had absconded.
But what we REALLY need in this, the Information Economy – is to rehabilitate, restore and reestablish our IP dominance.
Most importantly, we need to kill PTAB. (This Congress’ bipartisan STRONGER Patent Act – does that.) The USPTO should be in the patent creation business – not the patent destruction business.
That – combined with a much less IP-hostile Trump Administration’s actions – will be long-overdue steps in the right direction.
And hopefully begin clawing back our IP dominance. From Communist China – and elsewhere.
Were Trump to make this happen – and he can – this would far-and-away be his most important and longest lasting economic legacy.
This first appeared in Red State.