Pointgod wrote:Jamaaliver wrote:stilldropin20 wrote:
Agreed. And that's why our politicians and our media. Should put pressure on corporations especially American corporations to invest in American markets.
Trump is doing that.
My issue with this line of thinking:
Trump didn't so much pressure Apple as incentivize them.
He gave them a multi-billion dollar carrot that benefits them more than the avg American.
You know what would have incentivized Apple to bring profits back offshore? Close the loopholes that allow corporations to park profits off shore in the first place.
That's not really a loop hole though. Not exactly. And even if you want to classify it as a loop hole, the way to close it is with trade and tariff policies that make "non" American corporations pay to do business here in the US.
Keep in mind that Any American and most noon Americans can invest their personal wealth into almost any foreign Market.
Nothing Stops you and it's not a tax shelter per se. You are risking your wealth in the security of a foreign market. For Savvy wealthy investors this is not an issue but for Mom and Pop like the rest of us we will likely lose money in foreign markets.
And if you live overseas, you pay your taxes overseas inn that country. Six months used to be the cut off, I assume it still is.
Similarly corporations can move their corporate headquarters overseas.
So this is a " trade" issue as much and perhaps moreso than as it is a tax "loophole" issue.
If I were Donald Trump(right now) I would give corporations 2 to 3 months (at most) to return all of their Capital back into US markets and all of their corporations to return and be registered in the United States and pay their income taxes to the United States government. After that I would hit them with tons of negative press and the media should back him up on it. Now of course CNN and mainstream media will not. But they should. And the only thing that will make them back him up on this issue is if you liberals understand what's at stake here. This is indeed how you close the "loophole". Public pressure. Stop buying their damn goods and services if it's not registered in the United States and they don't pay their income taxes to the United States government.
Then Trump should start to hit foreign imports with tariffs. Until the trade is equalized on a country to Country basis. This is where we hurt China. This will force them to bring even more manufacturing plants back to the United States and we can control which ones for example the dirty smog filled high carbon type Manufacturing we don't have to necessarily bring back.
I'll take this time to remind everyone reading this that Trump is the only person in the entire us that as President has the balls and the panache to pull this off.
And it's the commitment to him from his base that gives him the balls. You guys need to start to see the forest through the trees. There are much bigger issues here than your and my silly feelings.
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like i said, its a full rebuild.