"Rook" has some thoughts on Donald Trump's promise to bring jobs back to the U.S.
Donald Trump has announced his plan for bringing back jobs that have been lost to other countries. Trump says that we lost millions of jobs to other countries because our corporate tax rate is higher than most other countries. He says he will lower the corporate tax rate from 35% to 15% and that will bring thousands of corporations and millions of jobs back to the U.S. that might have worked except for one thing: The tax rate isn't why those corporations left.
They left because they were being regulated beyond all reason. For example, the EPA, OSHA, SEC, HHS, Department of Labor, Commerce Department and the Obama Administration in general using thousands of Executive Orders to change the laws or make new laws.
Are there such governmental agencies in China? Or South Korea? Or Mexico? Malaysia? Bangladesh? Egypt? Of course not. And how about labor unions?
American business has been largely regulated out of business here. It's so much easier and less expensive manufacturing in other countries because of the lack of regulations and labor unions. The corporations save billions of dollars each year in costs. Sure, they may save some money in taxes under Trump's plan, but only a fraction of what they save in costs overseas. And taxes are passed along to the consumer anyway.
Trump has advisors for national security, foreign affairs, military, terrorism and race relations. He doesn't have an advisor for business and commerce because he fancies himself as the consummate businessman. Mr. Trump, you need another advisor.