Posted on 12/04/2016 9:59:32 AM PST by Steelfish
'It Will Be A Very Expensive Mistake' Trump Says Companies Who Leave The United States And Fire Their Employees Will Face Massive Tax Increases In Sunday Morning Twitter Tirade
By Wills Robinson 4 December 2016
Donald Trump had a stern warning to companies thinking of leaving the United States during his Sunday morning Twitter tirade.
The president-elect says firms who outsource beyond America's borders will face a massive tax increase, while those who stay will see huge financial benefits. In the lengthy rant, he wrote: 'The U.S. is going to substantialy [sic] reduce taxes and regulations on businesses, but any business that leaves our country for another country, fires its employees, builds a new factory or plant in the other country, and then thinks it will sell its product back into the U.S without retribution or consequence, is WRONG!
'There will be a tax on our soon to be strong border of 35% for these companies. wanting to sell their product, cars, A.C. units etc., back across the border. 'This tax will make leaving financially difficult, but these companies are able to move between all 50 states, with no tax or tariff being charged. Please be forewarned prior to making a very expensive mistake.'
(Excerpt) Read more at dailymail.co.uk ...
No different that Hillary and Obama saying there will be hell to pay for companies here mining coal.
This is the wrong approach, IMHO.
We should ELIMINATE ALL CORPORATE TAXES. The corporate tax rate should be 0% across the board.
Eliminate taxes and watch companies clamor to move to the USA...
Carrot and the stick. Trump plans to make the environment better in the us more business friendly by lowering taxes and reduce regulations. If that’s not enough for them to stay then the stick comes in play.
The taxes have to be lowered to zero to level the playing field, IMHO. We have the highest corporate tax rate in the world right now.
Anyone know why trump is turning down daily intelligence briefings???
In the sense that either side considers impact on the American worker and economy, I’d say that both are relevant except one is for the better and the other is to destroy.
Abusive but, maybe he will temper that.
I didn’t read that he is doing that. Can you please provide a link to a source?
Amen, bro!
While you're at it, why don't you threaten employers who bring in IT techs from India and force the Americans they are replacing to train them under threat of loss of severance pay that that will also be a very expensive mistake.
In fact, put your economic advisor, Disney Executive Bob Iger, in charge of that policy.
Ahem.
If corporate taxes are cut and incentives are available (and every state has their programs) AND get rid of the damn unions, maybe we can stop this ridiculous Made in China
sham. Sham?? Yeh...when you pay the people nothing and they have northing and only the government gets rich...it’s a sham. AKA Communism
On the other hand, I seem to remember that Obama doesn't attend many of them even while being President.
No.it is well known. You can google
Exactly. All this makes no sense if its replaced with a flood of H-1B visas.
If it’s well-known, then you should have no trouble posting a link. I’m not going to do my own research to prove your assertion.
Mexicans get paid 3 dollars an hour. How is this a free market? I would say that there needs to be a counter balance against countries essentially using slave labour to compete against companies in free and just nations
He plans to reduce corporate taxes from 35 to 15%. One step at a time.
I’d also like to see some incentives for companies to re-shore jobs previously sent out of the country. I’m not a big fan of incentives in general when they pit one state against another, but in this case an incentive that puts the US at an advantage would make sense because it could offset the social costs that result from job losses. We are paying that penalty now, let’s instead work with companies ho could benefit from reshoring.
Boston Consulting Group has been writing about reshoring for several years now and their research shows which industries and states are most likely to benefit. Aside from wage-related costs, some factors include the supply chain and transportation costs (which have increases massively) and the agility in the market that companies often lose.
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