How will the 2016 presidential election affect the economy?

No matter who wins the presidential election, the next President will be under pressure to get the stagnant economy moving again. 
 
So what will your investments look like after Election Day?
 
KHOU 11 News spoke with some of the best minds in the business on Wednesday.
 
Experts say the worst thing you can do is turn around the next day and sell off your investments. 
 
"Elections create a lot of uncertainty, particularly when you have candidates with vastly different views." said Matt Goff of Goff Financial Group.
 
Goff says it's unclear how Wall Street will initially react to a Donald Trump or Hillary Clinton victory, but that history shows investments will grow over time regardless of who is in the White House. 
 
"As a long term investor, the odds are really stacked in your favor, the worst thing you can do is panic, and lose your long term perspective because of an election. If you think, going back to 1995, everything we have been through, 9/11, a financial crisis, real estate bubble, the market still returns 10 percent a year." he said.
 
And what about taxes?
 
Bob McDonald, a partner at the Briggs and Veselka Accounting Firm, has been studying both candidates tax policies. 
 
He says, under Clinton, taxes will likely stay the same, except for those making more than $5 million a year or more, they'll go up.
 
He says under Trump, most people would get a tax cut.
 
"Trump wants to lower the brackets and lower the top rate to 33 percent, that would be the highest anyone pays, he also wants to increase exceptions, so an individual who makes less than $25,000 would pay no taxes and a married couple who makes less than $50,000 would pay no taxes." he said.
 
The financial adviser we spoke with crunched the numbers and said on average, since the year 1990, stocks have grown 8 percent in a president's first term, regardless of which party controls the White House. 
 


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