Quote:
Originally Posted by 12clicks
I was hoping someone of intelligence would ask this but you'll do as a foil.
We live in a global economy. like it or not, those are the facts. Smarter, hungrier countries are luring corporations to them with low or no corporate taxes. With them go jobs. Thinking that we're somehow going to teach GE a lesson and "close their loopholes" is silly. There are too many stable, business friendly countries to set up shop in and we're seeing it happen daily.
The bright side is that there is no better place to do business than in the US and all things being equal, corporations WANT to do business here. So we need to make all things equal.
Eliminate corporate taxes for companies headquartered in the US. Tweak the rules a bit so that the corps MUST bring jobs back with them and our jobs problem would be over. Putting all those people back to work fixes the economy and makes up for the lost revenue. Its a simple easy fix but obama and the left can't do it because they've spent their entire lives explaining to the rabble how evil corporations are.
Minte, what do you think of that?
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From my point of view that is exactly how the economy would repair itself. For years the Chinese government paid their manufacturers 14 cents on every dollar of product they exported. Today, it's still 7 cents. With that kind of incentive to grow jobs, it's not a surprise that China's economy is flourishing at the expense of US jobs.