Trump vows to tax businesses 35% if they ship jobs overseas. In theory, that sounds pretty reasonable to me. But this will also mean the prices of items/goods created and made in the U.S. will rise, mostly likely by quite a bit. That said, if people aren’t ALSO being paid substantially more, they will buy from overseas businesses anyway. Seems to me, we need to work at the problem from both ends. We should tax businesses for shipping jobs, but we should ALSO give tax breaks to businesses that pay their employees a decent wage. Perhaps the more they pay their workers, the more of a tax break they receive—a percentage.
I’m also thinking that if we gave stores a tax break for selling U.S. made goods, they might be more likely to carry U.S. made goods. Similarly, maybe the percentage of sales tax on goods made in U.S. be less than anything made overseas.
For decades, I have been a huge proponent for buying locally. (I gave a speech in college regarding why shopping at places like Walmart was destroying small towns and local businesses; that the more the local dollar ships out to other states, the worse the locals fair.) I would love to see more items be made in the U.S. And I would pay more for an item made in the U.S. But that’s a luxury I have. Many folks don’t have that luxury. We need to make it so MORE folks who want to buy locally, can afford to buy locally. We need to pay people more. We need to give an incentive to businesses to make that happen.
So go ahead and tax businesses 35%, but we need to pay the people working for said bluenesses more as well. I believe most people are good and care about the people around them. If we give everyone the ability to spend their dollar wisely and locally, I truly believe that every single party involved will be a lot happier and healthier.
I’m a laymen at best. But he needs to make MORE changes from both ends. And then? I’m all for it.