Title: After Carrier deal, Trump vows tax of 35 percent for US business going overseas | Fox News
Category: Business
Posted By: shockedcanadian
Date: 2016-12-04 10:44:19
Canadian

   

I wonder if this is retroactive to recent deals which have been agreed to but haven't taken effect. Ford, GM in Ontario, which will cost Michigan and other states. These companies are probably as surprised as anyone that he won the election, or maybe they were hedging their bets and made the deals quickly just to be sure.

He probably doesn't know about these deals. He would be well advised to be informed so he can make the best decisions to keep in line with a new "America first" agenda. Probably dozens more like the ones recently signed that could have major consequences for businesses in Ontario and elsewhere.

   

Only if he's dumb enough to consider Canada "overseas" and not understand how our economies are so integrated.
|Like kicking yourself only in one nut.

   

How is the economy any less integrated if American, develop and engineers their products in America and also employ the manufacturing process in America?

Canada should have their own innovation and competitive skills to compete globally. We are one of the few Western nations without their own domestic auto industry. That's noone's fault but Canada and the inability for the best, brightest and most driven to excel in the economy.

Maybe we can just borrow some more and keep government expanding with the hope that the rest of the world will see the wisdom of our ways and do the same. Who needs an innovative and free economy when we have generations of loyalists?

   

The president doesn't set the tax rate. Good luck getting this through congress. Republican or not, the congressmen and senators are fully in the pocket of these companies and their lobbyists . And half the senior public servants are part of the revolving door between senior government and corporations with mixed loyalty. This will never happen.

   

If he wants it to pass, it will pass. Whether it suits my own personal philosophy or not, it will be difficult to stop. He has no loyalties and no obligation to protect the careers of his staff. He could go rogue and call out anyone and he would see these people called out be voted out at the earliest time possible. Remind everyone of the voting public who supported his position.

In a worse case scenario, consider how many Executive Actions President Obama used. If he used three or four for only the most powerful of actions, it would be acceptable. How China could retaliate is not even a concern, since they have a $500B a year trade surplus. The lose a great deal more than America, it's not even close.

Trump could push as hard as he wants, working with Commerce Department and US Trade, as Commander in Chief he still has the most power in the land. This is a different world with some of the most challenging issues in our time, there has been real economic harm to the greatest democracy on earth.

   

Besides, how does he reconcile $7 million in tax breaks for Carrier and threaten the others with a 35% penalty?
Get the deals done before Jan 21?
Good way to fix the economy. Billionaires get more tax cuts, everyone can pay more for their goods, and he'll "pretend" and boast through Twitter that tariffs and duties are not taxes.

   

Canada just gave GM $300 million. $100M from the province of Ontario, $200M from the feds. This, on top of the $146k per job they paid to keep jobs here a few years ago (I posted the link before).

I agree, let the free market decide. This is a case of saying "if you want to succeed it will be based on product and taking market share", it won't be about chasing the lowest labour costs wherever they may be and selling at higher wage districts.

Companies might have to accept lower profit margins, at least in the short term. I get the feeling Trump isn't bluffing with this perspective. It's a very bad time to be a nation that isn't trusted by America...

   

Do I sound like a free market guy?
Excuse me! Git back to shoveling coal we're building you a fucking pipeline and we're gonna tax your dental plan too, boy! Be thankful we're liberals and we don't bring in right to scab laws, ban your wife's birth control and let you work at Wendys on Sunday instead of going to church like a good citizen.

   

A president can't executive order tax rates. And Congress doesn't take orders from the President. It is an independent branch of government.

   

Side note: have you considered how many executive orders he's used? Turns out that he's ordered the fewest of any 2-term President since Ulysses S. Grant in the late 1800s. In fact since the year 1900 the only Presidents with fewer EOs were McKinley, JFK, Ford, and Bush 1. All were one-term Presidents and all had more "orders per year" meaning they were on track to issue more than Obama.

https://en.wikipedia.org/wiki/List_of_U ... ive_orders

An "executive action" unlike an Executive Order is not a legally binding directive, nor even a defined term. The term is generally used to describe any "wishes" or policy and carry mo legal weight. And as I mentioned before a president cannot change the tax code with orders or actions. Only congress.

   

Congress takes orders from the President when he has more support than they do. And Congress has ceded so much of its authority to the Executive and Judicial branches that it's just a rump of what it used to be.

Obama ruled the country without the Congress and so can Trump because Obama set the precedent.

And now that it's YOUR agenda getting fucked up the ass by a potential imperial President maybe now you'll understand why I opposed Obama turning the Oval Office into an imperial throne room.

   

^ Nothing in the above post is true. Not your accusations of imperiousness or a subservient congress.

I mean, the Obama years are already known for being gridlocked and wasted due to Republican controlled Congress boycotting anything and everything related to Obama.

As for whether the "Trump effect" will cause House Republicans to abandon their principles and benefactors, I'll admit it's theoretically possible but I wouldn't hold my breath if I were you.

   

G