Rolling back Barack Obama’s war on business

is 2 percent today, cuts deficits by more than $3 trillion over 10 years.

And just imagine an incentive-driven free market capitalist economy in which tax dollars collected are put to good use, not squandered. I’m not opposed to governmentspending restraint at all. I would like to get rid of the Department of Labor. The Department of Commerce can go, too. I would like to cut all the waste, fraud and abuse in Washington, D.C., that’s possible.

Incentive-based tax policy plus “drain the swamp” is an excellent model for the future of America.

But one of the keys to President Trump’s economic success will be strong and clear guidance, and I’m not completely sure the president is receiving such solid advice right now. Someone needs to explain to him the actual consequences of his fiscal plans. Cause-and-effect scenarios need to be mapped out, at least so there are no surprises.

For instance, Trump is talking about lower trade gaps and a weaker dollar. Well, if his lower tax and regulatory policies go through and work as I believe they will, the reverse will occur. The dollar will strengthen, and trade gaps will widen. Somebody needs to sit with the president and say: “Think about this: Here are some charts that show what happened in the past when across-the-board tax cuts and regulatory reforms were put in place.”

History shows that growth-driven trade deficits are merely the flip side of massive capital inflows from around the world. That’s a good thing, not a bad one. Additionally, a strong and stable King Dollar will generate investment confidence at home and abroad and hold down inflation — another good thing.

The first few weeks of the Trump administration have not been short of controversy. But they’ve also been filled with promise. The president is proving right out of the gate that he’s both a man of his word and someone who gets things done.

But let me put my vote in for the primacy of tax and regulatory reform — in particular, a reduction of the corporate tax rate from 40 percent to 15 or 20 percent. This is the backbone of President Trump’s growth policies. As such, business tax reform should come early, not late.

It would be best for it to come in the first reconciliation bill this spring. Otherwise, if it comes late this year or next year, the 2017 economy and stock markets will disappoint as people postpone activity until they are certain of the lower tax rates and the rules that will accompany them.

The end of Obama’s war on business cannot come fast enough. Neither can renewed economic growth. Early tax reform is the key. Larry Kudlow is a conservative commentator and economic analyst.