It wasn't about who is taxed more, it's about tax privileges, but that's a U.S. problem.
I would contend that financial well-being is tightly tied to any re-election hopes. Money printing has been going on for the past 10 years. Every country did it to salvage their economies and banking systems after the financial crisis. But, the U.S. is going to be paying a steep price for their unlimited debt under Trump. Inflation anyone? If it happens it will be a boon to Canada, as a weak U.S. dollar means oil and other material exports will soar. I'm hoping we see a weaker U.S. dollar, this country would really benefit from a commodity super-cycle. It won't last long, 5 or so years, but long enough to get things back on track from coast to coast to coast.
Japan has been financing their economy with debt for decades, and it hasn't caused the problems people anticipated. With fewer children and insufficient immigration governments have no choice but to add debt to the books. I'm on the fence whether paying down debt makes sense. I realize you pay interest on debt, but the revenue required to decrease debt could be used to generate greater profits if it is spent on projects that will earn a greater return than the interest payment on the current debt.
Personally, I would like to see more money injected into our health care system. With the taxes we pay there's no need for supplemental insurance. Same goes for education. The greater the standard of education the better the future of this country. In my opinion, it's how money is spent, that is, value for money, versus spending. I don't see us having the issues Japan has faced. We are a relatively small population with tremendous resources. Even if oil demand declines from 2025 on out, there is the possibility of a hydrogen economy, but the technology and associated costs involved are far too expensive. I'm confident the petrol economy will remain for a good while yet.
If you look at the low rig count in U.S. shale, recent consolidations and defaults, as well as the massive debt these companies were carrying, I don't see shale coming back online in force. What bank wants to take on such risk? This also bodes well for Cdn crude. If the Dems get in and do curb fracking it is another bonus for Cdn oil exports. Many U.S. refineries are set up to process heavy crude, and that's not going to change. If the stars align and demand outstrips supply those in the oil patch need to make hay while the sun shines. I'm sincerely hoping this is how things play out.