President Trump, before offering praise on the GOP border tax bill, spoke with 20 different CEOs of massive, major, multinational corporations.
If the GOP’s border tax clears Congress, then it would help pay for a massive corporate tax cut — therefore intriguing other companies to invest here, and preventing many companies from leaving the US. Corporate tax cuts may not be what a Democratic socialist like Bernie Sanders wants, but less gov’t intrusion & less gov’t taxing PROVIDES THE OPENING for more free market & jobs.
There are cities across America, ran by Democratic politicians, who have had the life-force drained from their streets and buildings. The jobs are gone.
Republicans are trying to get border tax legislation passed through congress currently. The tax is being proposed to boost exports.
Throughout the campaign, President Trump said he would implement a 35% border tax, to stop our country from getting screwed by free trade agreements.
President Trump told Reuters that the border tax “could lead to a lot more jobs in the United States,”
According to border tax supporters, the tax would make companies pay fees on products exporting the country — therefore leading to a cut in federal taxing, which will enable more factories to stay in the US. Less regulations, less federal taxing seems to be the vital reason why factories pick other countries over us.
Border tax supporters also say “the tax on imports will encourage domestic production and cause the already strong dollar to rise”, as we receive more money through the border as we receive the products.
Trump has also called for a 35-percent border tax on U.S. companies that move jobs abroad and import products back into the U.S. market. It has been unclear in the past if those references referred to the border adjustment proposal.
“I certainly support a form of tax on the border,” he told Reuters on Thursday. “What is going to happen is companies are going to come back here, they’re going to build their factories and they’re going to create a lot of jobs and there’s no tax.”
White House spokesman Sean Spicer also came to the defense of border adjustment on Thursday, disputing the claim that it could lead to higher consumer prices. “That benefits our economy, it helps American workers, it grows the manufacturing base,” Spicer told reporters at a White House briefing.
The Mexican peso MXN= weakened slightly against the U.S. dollar immediately after Trump’s comments and was last trading at 19.68 per dollar. Earlier on Thursday, the Mexican currency hit its strongest level since Trump’s Nov. 8 election victory.
The stocks of big corporates on Wall Street seem to be damaged when Trump comments positively on border taxes. When Trump mentioned the optimistic statements on the proposed border tax, according to this verified report, the major saw their stocks drop a percentage.
“The S&P 500 retailing index .SPXRT ended down 1 percent. Shares of Wal-Mart Stores (WMT.N) slipped and closed down 0.6 percent”
Of course Walmart’s stocks in America will drop if we implement a border tax, but at the same time it will prevent Walmart from choosing other countries over us in the long run — and due to a stronger American dollar and a less scary federal tax, Walmart along with other major companies will choose to build in the USA more and more.
.. Trump’s Treasury Sec. Mnuchin said, on Thursday, that President Trump and the administration are aiming to formulate a different tax-plan with the GOP’s strong grip on Congress, and pass it before August. Trump’s details on the matters are still not a big talking point for him, as his words obviously effect stocks, and him and Mexico gov’t officials are not really on nice terms.
Carlos Slim, former billionaire foe of President Trump’s, has tried and is trying along with Mexico’s gov’t to save NAFTA and not allow a border tax. NAFTA has been a job-killer to the US and a big support to Mexico.
NAFTA has not been nice to the US & that’s why Mexico is even more angry with President Trump, who is fighting to alter the deal or kill it all together. President Trump predicted that NAFTA would be a one-sided transaction, back before anyone else knew it!
American Made Coalition said that Trump’s White House is “sending its strongest signals yet that it’s leaning toward supporting the House blueprint with border adjustability”
Now the concern in which Senator Cotton [R-AR] has is a really valid concern, and good point. He calls out Paul Ryan for his dull economic intellect and it does alarm President Trump in a way. But I am sure President Trump knew what the opposition would be tdo a border tax, and what Cotton would say — Trump has been n economics his whole, f’ing life! Cotton said that the ‘Border Tax Adjustment’ is just simple lingo for a simple — yet unneccessary policy at the moment. The ‘Border Tax Adjustment’ means ‘import taxes on everything’, and this means for all products–whether it is a finished product or a piece of product needed to be sent to a company to build a product, it will be taxed despite the type of product it is. At first the border taxes will cause price increases because wages are flat so a border tax would naturally cause inflasion. So prices would soar upwards and no worker would be getting richer, and it’d just hurt the middle class and decent, everyday, hardworking American [or ‘deplorable’ as Hillary and corrupt Democrat elite look down upon us as]
President Trump is on phone calls negotiating, in meetings discussing, and he understands economics and stocks and bilateral deals and trade transactions more than anyone. President Trump was an external factor dealing with gov’ts and now he’s apart of the gov’t dealing with other gov’ts and other external entities, businesswise. The thing is Trump has been working things out economically for business agreements, worldwide, his whole life. He probably shellshocks foreign business leaders these days because our other Presidents were just career politicians and maybe ex-military –but that did not help them intellectually when it came to business time! Trump tests the waves, he knows the markets are malleable and so when the media fear-mongers, he doesn’t falter. Trump will make an incursion in stocks happen because he knows it’ll be back up soon. But when Trump spoke glowingly about the border tax, it showed him that — YES — mega-corporate stocks will fall quick, quick, fast if you righteously benefit yourself [in this case your country] without something supplemental to them. A border tax with nothing else will just cause higher prices — which makes everyone pay more to live, despite being paid same salary, which causes a lesser amount of cash in the wallet [or purse]. So a big fat extra tariff, called a BORDER TAX, is just extra fees that will make a company pay more in your area for your services, your people, etc and due to extra spending impended upon them — that will make them look for better places, to pay less money, to put their jobs and plants and stores and factories and towers and buildings and parks and resorts.. So a higher border tax just makes the company lose some optimism on the country, and lose interest, in the American people and building on American soil. Yet Trump, tests to see if the corporate stocks get irritated due to the mention of a potential border tax, and if they don’t then Trump could investigate that — it could be a way to widen the surplus. But they most likely will drop when you mention an unnecessary border tax, so you’ll have to keep being frugal and negotiate. Trump likes to play around and test the waters, he is really smart.
But PAUL RYAN IS AN IDIOT, ECONOMICALLY. Total simpleton. He’s not even a pokerface. He just does not know economics.
Yes it is about, with President Trump, saying no to globalist trade deals and AMERICA FIRST. YES a border tax sounds patriotic and nationalistic and controlling, but with global revenue and products coming in and out — there is no need for a random border tax just to have one. NOW in a day and age where imports come from everywhere globally, you have to have global trade alignments but you can retain your sovereignty as well. Duh! A globalist trade deal allows your jobs to free fall and cycle into other places and maybe you get some other jobs or not. That’s no control. TPP had us blindfolded. Sure, Silicon Valley would get richer — and our GDP would probably grow because of technology and making it easier to connect financially and through careers on a global scale .. but too many other jobs and factories would have been taken. A global trade deal, which you need in these days, are all about checks and balances. So you do not get f’d over. Russia, has so many sanctions against them and are not trading on a global level at the pace they need to be. So they’re falling behind and their economy is rusty.
Russia is sovereign, and they’re definitely too aggressive also, but they need to survive with international business settlements that don’t open their borders or highjack their jobs — but offers more revenue inward and allow Russia to reciprocate outwards. And of course, if your gov’t leaders are doing their jobs correctly — then the gov’t international deals will be fair, productive, and just hopefully prosperous. But Russia is dusty, due to sanctions, and no international agreements.
Good to see pragmatism. Senator Cotton stuck up to the cult-like following of Paul Ryan’s dumb, illogical border tax bill. Speaker of the House Paul Ryan has got some reason to push this illogical border tax strongly, and it isn’t due to commonsense awareness to the global dealings of today. It’s due to something else. Maybe conservative arrogance, but I’m pretty sure it’s because he’s got some friends in a high-up business, who know their rival business’s stocks will fall badly if the border tax gets embedded.
Now Mike Pence used his full, conservative ideological viewpoint when approaching the 2008 Wall St. bailout vote. In this case, the Republicans were majorly pushing for the bailout .. but Pence, due to his beliefs that gov’t should not be so involved in citizens’ lives that it totally can dictate that so much of the citizens’ taxes can bailout and buyout assets and major private corporations. The bailout vote, for Pence, was about whether or not a true Constitutionalist would go along with it the vote. A true Constitutionalist would say it is overreach by the government to take so much of the public citizens’ money — just to pick favorites and use it to bailout the richest private businesses in the nation. Therefore reviving corporations in a big way, but then again taking so many Americans’ tax dollars and using it to make the top 1 percent even more rich! To Mike Pence, voting for the bailout is not what a conservative agenda would prohibit, as it overreaches the gov’t’s rights and shows open favoritism, financially, to private entities of the country.
So yes, maybe the bailout for economic reasons was good to vote for due to no other choice but to slowly rise back up. But for Pence, ideals and less gov’t and more releasing of freedom and capitalism will lead the way. That’s an ideological approach that makes sense. Paul Ryan and his usage of the conservative ideology for a border tax, does not help and actually hurts us currently.
Trump was POTUS in the 90s before anyone knew if NAFTA would be great or horrid — then we would be better off economically right now
Americans for Affordable Products, who claim that a border tax will spike products’ prices [despite Spicer disputing it], offered some combative remarks to President Trump’s optimism on the border tax bill.
Obviously the New York Federal Reserve has it’s troops firing against President Trump, and that happened immediately after his pro-border tax statements.
Earlier today, some economists did not sound too happy!
Some economists for the New York Federal Reserve posted their ANGRY, COMBATIVE VIEWPOINTS in a blog post earlier today. Take a look! You can just feel their loathsome feelings about Trump ooze out as you read it.
CNN also reported that a border tax would not do much for American companies due to this reason:
Supply chains stretch over borders and oceans these days. Many companies that sell products overseas also import parts for those products from abroad.
Those companies would be subject to both higher taxes on the production side and lower taxes on the sales side. The overall impact wouldn’t change, according to the post.