But the view is that activists come in and make some trouble.

That’s your view. You’re categorizing how you refer to an activist.

So how do you?

You’re using it in what I consider to be more of a derogatory term, as opposed to an activist could be an active investor. Obviously, private equity is definitely an active investor. So, I mean, private equity buys companies because they think they can run them better.

I’m going to pivot the conversation. We actually had a big debate about taxes just now. One of the questions that was raised was this idea that we need more revenue. If you look at the deficit, as you very well know, it looks like it’s going to get over a trillion dollars for 2020 for the first time. So given that there are conversations about a tax cut, how do you raise more revenue right now?

The No. 1 way you raise more revenue is through growth. So I think when we look at debt and sustainability, we look at debt relative to G.D.P. I think that when the president came into office, the No. 1 economic issue he was focused on was growing the economy. For a long time we had very low growth. There were people who said we could never grow at high numbers again. We had wages that hadn’t grown, and we came with an economic plan and said, “Look, you can’t cut your way to prosperity. You have to grow your way,” and again, we’ve grown revenues now. One of the things we did in the tax bill was we allowed for automatic expensing. So, obviously that is a front-loading of investment and a back-end in terms of revenues. So part of this is when you look at the deficit you can’t just look at a moment in time, you have to look at what are we going to do over a five- or 10-year period.

You said initially — when they were campaigning before the tax plan — that it would pay for itself.

I still think it will absolutely.

We’re ahead of where we thought we’d be today. I never said I thought it would pay for itself in year one. What I said is over a 10-year window, which is the way we analyze taxes, it will pay for itself. And again, this is just math. If over this 10-year window we grow an extra 35 basis points a year, it will have paid for itself.