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President-elect Donald Trump fired another warning shot Sunday at U.S. companies considering moving their operations out of the country, threatening "retributions or consequences" such as a hefty border tax if they do.
The pronouncements came in a string of early morning tweets. Trump declared that he intends to incentivize businesses to stay in America by lowering corporate taxes and slashing regulations, two key components of his economic agenda. But he also warned that companies with offshore factories would face a 35 percent tariff on goods sold back to the United States.
Trump's messages Sunday morning drew skepticism from some Republicans such as Nebraska Sen. Ben Sasse, who have generally favored a hands-off approach to the economy.
Ben Sasse wants to keep this as they are. Spoken like a person who has a fat pension and life time health benefits, what a jerk.
Import tariffs are a slippery slope, there is nothing to stop the other country in question from doing the same.
originally posted by: Metallicus
Except as a country we are 100-1 net importer so there is very little tariffs can do to hurt us right now
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Can you imagine how China would win that war with the U.S.? All we do is import their junk while they have serious barriers to entry for American companies.
Time to rebuild America and get back to a point where we even export anything again before this becomes a concern for us.
originally posted by: buster2010
a reply to: Metallicus
Time to rebuild America and get back to a point where we even export anything again before this becomes a concern for us.
So where is the money going to come from if he cuts taxes? He wants tax cuts for companies (real shocker) and cut taxes for the wealthy so where is the money going to come from? Does he have the magic money fairy on speed dial?
originally posted by: buster2010
a reply to: Metallicus
Time to rebuild America and get back to a point where we even export anything again before this becomes a concern for us.
So where is the money going to come from if he cuts taxes? He wants tax cuts for companies (real shocker) and cut taxes for the wealthy so where is the money going to come from? Does he have the magic money fairy on speed dial?
originally posted by: seasonal
As far as I can tell this is only for companies that are moving out of the country and bringing stuff back in to sell to the people they fired.
originally posted by: DrakeINFERNO
If a company has a 1000employees making 50,000 that is 500,000,000 dollars of taxable income. If they move to mexico they get 0 dollars of taxable income
originally posted by: DrakeINFERNO
Oops your right, still infinitley bigger than 0. I just woke up apologies.