Monday, December 12, 2016
Trump's Tax On Corporations Exporting Jobs Won't Happen
But Trump also promised to keep corporations from exporting good American jobs. That sounded good to some workers during the campaign, and got him some votes -- especially in the Rust Belt. But that's not going to happen either.
A few days ago, Trump said he would levy a 35% tax on companies that closed American plants and moved to another country to take advantage of low wages. I don't know if he's serious about that or just blowing more hot air, but it doesn't matter. It won't happen. Remember, Trump and others in his family have their own products made in foreign countries to save money of worker wages.
Both houses of Congress are controlled by the Republican Party. And there's only one sin greater than taxing the rich to a congressional Republican -- taxing corporations. Remember, this is the party that gave corporations a tax break to help them outsource American jobs, and killed efforts by Democrats to repeal that tax break. There is no way they would allow a new 35% tax on any corporations for any reason.
Trump's promise to tax corporations for exporting jobs is just hot air. The outsourcing will continue, and it will continue because the corporations want it to continue -- and the congressional Republicans want whatever the corporations want.
(The illustration of Donald Trump above is by John Spooner in the Sydney Morning Herald.)