tailgater wrote:Nobody wants corporate tax breaks, but we all b*tch and moan when corporation move overseas for the lower tax rates.
The only obvious solution is to move towards higher import tariffs, even at the risk of being viewed as isolationists.
Tailgater, I disagree with you here.
Many economists say we tax our businesses too much. We one of the few, if not the only country that taxes our companies abroad that would bring money into the U.S. They get taxed abroad and then taxed again if they bring that money back- so they don't do it.
If we lower the barriers on companies, they will invest it here, keep businesses here, etc. I am not talking about corporate welfare, where the government gives them money ( hello Solyndra) to do business.
Businesses just don't stuff money under mattresses, they invest, expand, create more jobs when more money is freed up.
Could you imagine the economic boom if we let companies bring that money back with no massive tax penalties?
Tariffs are not the answer. Massive tariffs from the Smoot-Hawley helped catapult the U.S. into the great depression. Other countries retaliated with their own tariffs and world trade plummeted by 60+% 2 yrs after this tariff act, the unemployment rate was 25%.