products are produced in foreign countries but many foreign corporations make products here now. Toyota and Honda are two of the big ones. They are here because they save money.HMMM.
You also fail to mention the service economy. Most services performed in America are by American citizens. If you need a lawyer, I doubt you would go abroad to find one.I don't recall mentioning any industry but since you brought it up what part of a lawyer's service would be cut?...His/her gross Income?
BTW, my business (over 20yrs) happens to be a service business.
I don't recall mentioning any industry but since you brought it up what part of a lawyer's service would be cut?...His/her gross Income?When you say a "lawyer's service" I assume you mean his fee. To begin with, he would not have to pay SS taxes. That is almost 14% of his income. The percentage savings on income taxes paid would depend on how successful he is. He could cut his fee by that total and still get the same amount of money in his pocket(net income).
BTW, my business (over 20yrs) happens to be a service businessJust curious. Are you self-employed in a service industry, like the lawyer, or do you run a service business with employees. It doesn't change the equation but it would help me explain it better as it applies to you.