Posted on 12/04/2016 7:16:40 AM PST by Wolfie
President-elect Trump doubles down on 35% tax for businesses that ship jobs out of U.S.
NEW YORK — Fresh off saving 800 Carrier factory jobs from being off-shored to Mexico, President-elect Donald Trump is renewing his threat against companies that move their operations to foreign countries.
Donald J. Trump ✔ @realDonaldTrump The U.S. is going to substantialy reduce taxes and regulations on businesses, but any business that leaves our country for another country, 6:41 AM - 4 Dec 2016
Donald J. Trump ✔ @realDonaldTrump without retribution or consequence, is WRONG! There will be a tax on our soon to be strong border of 35% for these companies ...... 6:57 AM - 4 Dec 2016 4,895 4,895 Retweets
(Excerpt) Read more at google.com ...
A national retail sales tax makes corporate taxes.... wait for it...zero.
I told you how it could be done but you won’t listen. You are so hard to get along with, even when we actually agree on something we still can’t see eye to eye.
The national retail sales tax IMO creates a very friendly environment for business. So much so that big mfgers would relocate to the US.
Every time you post, it’s about some shortcoming you see with whatever Trump is doing.
Maybe you should’ve run for president, since you seem to believe every single problem can be resolved before the inauguration even takes place.
Very interesting.
Would you eliminate corporate taxes (which are paid by the customer/consumer anyway)?
By retail do you mean VAT, or just “end of the supply chain?”
Would you tax services too? Subscription software?
This is the key paragraph. All we get on the WTO is one vote and the rest of the world rolls us over. Either we get the wto to change or we have thos 35% tariff because this is killing our exports!!
“
In 2004 Pres. Bush created new legislation again to offset the VAT. This again led to complaints from the EU – again filing a case with the WTO – arguing export subsidies were provided by the new legislation. In 2006 President Bush and Congress stopped enacting the tax provisions to U.S. exporters, demonstrating how the EU and WTO had successfully usurped the U.S. of its power to promote fair and free trade.
And what about companies that ship IT jobs or accounting jobs or call center jobs or medical jobs overseas? How is he going to sanction them?Ankle biting naysayers don't know a way, therefore it isn't possible
except for Carrier which is still shipping 1100 jobs to Mexico
Just so, Principled!
What is not to like about a 0% business income tax rate?
In addition, the FairTax is “border adjustable;” meaning that imported goods will be subject to the same [FAIR] taxation as US goods, and that US exports will not bear the burden of ANY federal taxes!
[You all know, do you not, that foreign goods imported into the USA bear no or very little tax burden FRom their parent country? VAT taxes are rebated at the border when a product is exported, and most all of our trading partners have VAT taxes. Currently, American goods sold abroad bear the burden of two tax systems — US and the importing country. It is a wonder that we are able to sell ANYTHING abroad!]
US and foreign goods will compete on a level playing field both here and abroad!
What is not to like about that!
Let us pester Mr. Trump to re-think his tax plan and seek Mr. Pence’s wise counsel in tax matters. After all, when he was a Congressman, Mr. Pence was a FairTax co-sponsor.
In respect of FRee and fair trade, FairTax is clearly the best policy!
America First!
Unfortunately there are many problems with a retail sales tax. It is regressive, doesn’t cover the service sector very well and the prebate idea can lead to a lot of fraud.
Exactly.
One of the subliminal themes that the MSM threw out to the public is that Trump got to his position in life through family connections and dumb luck.
Their hatred has intensified because, in the public’s eye, he put them in their place.
Yep.
Instead, we need set up a tax/legal environment that encourages companies to do business here in general. That’s the president’s real job.Some people need to pay more attention to what he actually says rather than what someone else says he said.
If you did that you'd know your concerns were addressed in his words long ago.
I wonder how many Freepers would like an extra 35% tax on anyone vactioning, let alone moving, outside the US.
I couldn't agree more. More carrot. Less stick.
Yes, all taxes are paid by individuals anyway as you noted. Hence eliminating all federal income taxes and replacing them with a “retail” sales tax will have little effect on the aggregate tax collected.
Retail is in quotes bc it’s very important. Everything is taxed...but only once... that being at the time of retail consumption. That includes services like dentist, lawyer, software licensing, etc. but as you noted, the dentist, lawyer, and software company are already paying taxes that they include in their prices. So prices don’t change much in a competitive environment.
Exports can have their taxes rebated (border adjusted) and imports are required to pay the tax upon reaching our border.
The rate would be about 30% as an add-on (how sales taxes are usually viewed) which is about 23% as an included portion of total cost (how income taxes are usually viewed).
The WTO is all on board with an excise at our borders...such excise may also be rebated to our exports.
An excise like a national retail sales tax meets the WTO criteria for allowable systems.
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