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It's really moot since, for the most part, these companies moving the articles of incorporation aren't moving them from the United States, but rather from other tax shelter countries like the Caymans and Bermuda to Switzerland.
Its time to cut their taxes and give them a reason to stay in America.
Or, since they depend on the American consumer to buy their crap, make that reason that its more expensive to do business outside of America then in America.
Or, since they depend on the American consumer to buy their crap, make that reason that its more expensive to do business outside of America then in America.
Which will make more countries restrictive of American imports to their marketplace. Instead of building markets, you'd be dismantling markets. Does that sound like a good economic strategy?
Which will make more countries restrictive of American imports to their marketplace. Instead of building markets, you'd be dismantling markets. Does that sound like a good economic strategy?
Yep. You checked the trade imbalance lately? The US would gain far more jobs and purchasing power then it would lose with any retalitory tariffs.
The fact is that the companies offshoring are not "building markets", they are largely selling the junk back here to the US. The workers they hire at slave wages cannot remotely afford the products they produce. It would probably take the average Nike sweatshop worker half a year to buy a pair of shoes they are making. I can promise you, there is little demand for Air Jordans in the markets Nike sweatshops are operating.
Yep. You checked the trade imbalance lately? The US would gain far more jobs and purchasing power then it would lose with any retalitory tariffs.
The fact is that the companies offshoring are not "building markets", they are largely selling the junk back here to the US. The workers they hire at slave wages cannot remotely afford the products they produce. It would probably take the average Nike sweatshop worker half a year to buy a pair of shoes they are making. I can promise you, there is little demand for Air Jordans in the markets Nike sweatshops are operating.
So, let's just stop selling products to the rest of the world. Isolationism is eventually a dead end as far as capitalism. Either you run out of consumers, or you have to make goods that are increasingly disposable (which generally equates to lower quality). And those offshore manufacturers may not be selling those same goods to those workers, but they are providing much-needed jobs to those workers. Or is it that Americans would rather those workers have no jobs rather than the low-paying manufacturing jobs that have raised the quality of live across the board for the people in those countries?
So, let's just stop selling products to the rest of the world. Isolationism is eventually a dead end as far as capitalism. Either you run out of consumers, or you have to make goods that are increasingly disposable (which generally equates to lower quality). And those offshore manufacturers may not be selling those same goods to those workers, but they are providing much-needed jobs to those workers. Or is it that Americans would rather those workers have no jobs rather than the low-paying manufacturing jobs that have raised the quality of live across the board for the people in those countries?
If the options are:
A) Jobs for non-Americans
B) Jobs for Americans
I take B every time.
It is vile when companies like JP Morgan take our bailout money and use it to hire people not in American but in Brazil.
As for the claim that "we have the highest corporate taxes in the world". That is garbage. Google effective tax rate. The statutory tax rate is like the sticker price on a car - noone pays it.
It is vile when companies like JP Morgan take our bailout money and use it to hire people not in American but in Brazil.
As for the claim that "we have the highest corporate taxes in the world". That is garbage. Google effective tax rate. The statutory tax rate is like the sticker price on a car - noone pays it.
Option B may look good in the short-term. But don't we have to look at the long-term as well?
Sustained growth cannot be achieved by isolationism. While Friedman thinks that there is nothing wrong with trade deficits, his argument depends on the money coming back to the United States in the form of investment. That investment will not return to the United States if it takes an isolationist position in the global economy. Sustained trade deficits are fine if your country's economy is strong and vital. But our economy right now is not strong and vital. Isolationism is a dead-end road. We need to re-vitalize our economy with new technology and innovation. Investment in the infrastructure to support future growth is a solid investment.
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