“If the USA wants a corporate tax rate of 15%, then the USA should legislate a corporate tax rate for the USA to be 15%.”
Add a 15% tariff on all imports so companies outside the USA don’t get a free ride and domestically manufactured product are more competitive.
Before I get slammed by the free traders who have witnessed the 30 year experiment that decimated our US manufacturing infrastructure and middle class, I suggest considering the following facts:
1) In 1865 Great Britain was the world economic and military power. Its economic power had been achieved with mercantilist protectionist trade policies. The United States was an economic basket case after 4 years of Civil War. In 1900 the United States was the most innovative nation technologically and the largest economic power in the world. It exported its manufactured goods globally and traded with all nations. During the 35 years it progressed from a backward agrarian nation decimate by war to the word’s industrial power, it had the highest tariff rates in its history. Tarriffs and duties on imported goods funded the federal government, there were no income taxes.
2) China’s rise as an global economic power has been due to its unfettered access to the US and European markets as the developed nations dropped tariffs and duties (i.e. free trade) while it subsidized exports and investment, restricted foreign access to its domestic market, and engaged in open stealing of intellectual capital.
The “free trade” policies of the two Bush presidents, Clinton, and Obama have been a disaster for the United States and the return to those policies under Biden, along with open borders, and unprecedented devaluation of the currency means third world status for the citizens of this country within a decade.
You won’t see me slamming that!!! Tariffs are patriot candy!!!
I am a former free trader. I am so because I am observant. It does not work. If you get slammed, I have your back brother. If people do not want to be intelligent and rationally analyze what works and does work then they are not smart enough to make a cogent argument to support there position.
That was a nice way of saying free traders are stupid shits.