You'll never cut the red tape to equal the legal cost of operating in China, Vietnam or Mexico. Ever. Even if you did, with a 35% domestic tax on earnings here and 10% over there, it'll still never work out. I would actually have business income tax on earnings in the US at 0% and have a tariff of 20% to make up for the business income tax. Why start with US earners (business and earners)
It depends. Some countries, like Canada, play a shakedown game with intellectual rights. They essentially threaten to steal the patents forcing companies to sell below cost. I don’t believe in the trade of stolen goods.
So no. You do realize patents are not capitalistic, right? Patents are inherently anti-capitalistic as it creates a legal monopoly. Patent reform is one of the most badly needed things in the entire system, and not in favor of big business.
Even if this was true because America lacks the political will to make those changes Tariffs are still just another layer of pain inflicted. Capitalism by it’s very nature is dynamic. Companies are going to rise and fall as the markets change. We get focused on the change induced from overseas because it’s inflicted by “THEM!” , yet we see tariffs as OK because the pain is inflicted by “US”. It’s like curing a sore throat by dropping a brick on your foot. At the very least the pain caused by foreign competitors should be used politically to change our own laws that handicap our side, not impose the further handicap of another tax!
You do realize patents are not capitalistic, right?
I could not disagree more! I’ll let Ayn Rand answer this one for me.