If he imposes a punishing tax on Ford, the company will probably leave the U.S. altogether. The unions wrecked the auto industry here in the US. Much of our manufacturing base or what’s left of it has moved to the right-to-work states, mostly in the South.
We don’t need higher taxes on Ford or any other corporation. Taxes on corporations are basically hidden sales taxes which are ultimately passed on down to the consumer. Corporate income taxes should be abolished, and right to work should be nationwide.
Do just those two things and you would see a massive resurgence of manufacturing and job creation in the US, not to mention trillions of dollars repatriated to the US which is now offshore.
DT’s bluster and threats of trade wars with other countries is counterproductive and will do more harm than good. We need lower tariffs, lower taxes, less regulation, and much less government IMHO. Not populist self serving malarkey and sound bites. I’m not interested in attacking Mexico and China. I’m interested in building America up and then exporting our greatest resource: Our capitalist spirit and know how. No other force in the world has lifted more people out of poverty and created as much prosperity as capitalism. We don’t need deals, we need a governing philosophy which understands this.
> “If he imposes a punishing tax on Ford, the company will probably leave the U.S. altogether.”
No. They will stay because they are not stupid. They benefit by 35% to stay in the USA. By moving abroad they are subject to a 35% import duty.
> “We don’t need higher taxes on Ford or any other corporation.”
Ford has plans to build a 1.2 billion dollar plant in Mexico. There needs to be a consequence to these plans. Trump has the plan. He says “sure, go ahead and build your cars in Mexico. Just don’t expect to import them into the USA without a penalty.” And for today, that’s exactly the right thing to do.
> “ Taxes on corporations are basically hidden sales taxes which are ultimately passed on down to the consumer. “
That’s right and that’s why import taxes will kill their plans to build plants across the border and move jobs to Mexicans.
> “Corporate income taxes should be abolished, and right to work should be nationwide.”
That’s right and that is what Trump intends to do.