To a certain extent, yes. Then there is the fact that tariffs on steel will hurt us more than it will help. America's steel mills shut down years ago because of cheap labor and the fact that they didn't want to invest in improvement. So we will have to import the steel for a long time until those mills are rebuilt, which means everything here made of steel will cost 25% more for several years. It is expected to add about $6,000 to the cost of every car, not to mention what the taxpayers will have to cough up for each new ship for the Navy.
Lowering corporate taxes never does much for hiring. Last time they had a repatriation year(2004) during the Bush administration, the companies used it to buy back common stock, modernize equipment so they could lay off workers, and move things to other countries.
In addition, we have 30 years of experience at what it does for wages, because that is the length of time in which wages have not risen consequent with inflation.
Now, a lot of cons will thumb this down, but they have no facts to present to refute it.
It will not. It will bring about a recession. The only TV assembly plant in the USA is shutting its doors because of the tariffs put on the components made in China and imported to the USA. The workers will be laid off until the tariffs are removed. The retaliatory tariffs China put on soy beans has already cost farmers billions of dollars because of a drop in prices. The tariffs China put on lobsters also make many lobster fishermen in Maine lose money because Canadian lobsters are cheaper and the same quality. Lowering corporate taxes allow companies to buy back stock. It does not increase jobs. Corporation won't expand unless there is an increase in demand for their products. They won't expand just because Uncle Sam throws money at them.
Countries can't just have "cheap labor" for businesses to move production there.
If that were the case, production would already have left China for places like Zimbabwe.
(Also, liberals should be supporting tariffs. Not only do they increase the competitiveness of US workers in the global economy, they generate revenue, which can be used to fund social programs.
Liberals...you won't be out of power forever. Let Trump take the heat for tariffs. Then once you're in power, you use the revenue to fund the things you want. This "if Trump did it, it's wrong" is just shooting yourself in the foot.)
It could possibly bring back jobs to the US, but what politicians (trump) don't realize is that by doing this you are harming cost efficiency. They make stuff in china because of how low the costs are. So sure, it might bring jobs back to the States, but that is not always a good thing. This means people will be forced to buy the more expensive american products, which would raise demand and bring some jobs in, but it would also drive the price up of a lot of commodities uneccessarily. The economy always suffers when you put a barrier in between consumers and their cheapest option.
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To a certain extent, yes. Then there is the fact that tariffs on steel will hurt us more than it will help. America's steel mills shut down years ago because of cheap labor and the fact that they didn't want to invest in improvement. So we will have to import the steel for a long time until those mills are rebuilt, which means everything here made of steel will cost 25% more for several years. It is expected to add about $6,000 to the cost of every car, not to mention what the taxpayers will have to cough up for each new ship for the Navy.
Lowering corporate taxes never does much for hiring. Last time they had a repatriation year(2004) during the Bush administration, the companies used it to buy back common stock, modernize equipment so they could lay off workers, and move things to other countries.
In addition, we have 30 years of experience at what it does for wages, because that is the length of time in which wages have not risen consequent with inflation.
Now, a lot of cons will thumb this down, but they have no facts to present to refute it.
It will not. It will bring about a recession. The only TV assembly plant in the USA is shutting its doors because of the tariffs put on the components made in China and imported to the USA. The workers will be laid off until the tariffs are removed. The retaliatory tariffs China put on soy beans has already cost farmers billions of dollars because of a drop in prices. The tariffs China put on lobsters also make many lobster fishermen in Maine lose money because Canadian lobsters are cheaper and the same quality. Lowering corporate taxes allow companies to buy back stock. It does not increase jobs. Corporation won't expand unless there is an increase in demand for their products. They won't expand just because Uncle Sam throws money at them.
"How will lowering Cooperation taxes bring back jobs?"
So much for government "education".
Countries can't just have "cheap labor" for businesses to move production there.
If that were the case, production would already have left China for places like Zimbabwe.
(Also, liberals should be supporting tariffs. Not only do they increase the competitiveness of US workers in the global economy, they generate revenue, which can be used to fund social programs.
Liberals...you won't be out of power forever. Let Trump take the heat for tariffs. Then once you're in power, you use the revenue to fund the things you want. This "if Trump did it, it's wrong" is just shooting yourself in the foot.)
It could possibly bring back jobs to the US, but what politicians (trump) don't realize is that by doing this you are harming cost efficiency. They make stuff in china because of how low the costs are. So sure, it might bring jobs back to the States, but that is not always a good thing. This means people will be forced to buy the more expensive american products, which would raise demand and bring some jobs in, but it would also drive the price up of a lot of commodities uneccessarily. The economy always suffers when you put a barrier in between consumers and their cheapest option.
Trump just doubled his steel tariffs again, which is going to hurt US manufacturers even more. https://www.npr.org/2018/08/10/637445436/trump-dou...
Combined lower corporate taxes with tariffs on Chinese imports makes hiring in the US suddenly seem more business friendly.
Lolz