Quote:
Originally Posted by Robbie
Think about the math...Trump threatened them with a 35% tariff on cars coming into the U.S. from that plant.
Then add in the tax rate for corporations. Trump lowers it from 35% to 15%
Then add in the elimination of some of the regulatory restrictions that have been put in place over the past 8 years.
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Unfortunately these talking points were from way back during debates...the real number being floated for tariffs is 5-10% and GOP congressmen and leadership has already said they would vote down any attempt to impose tariffs...granted Trump can bypass them, but he would have a lot of push back from American exporters, farmers etc...and most economists say it would cost the US about 5 mill jobs at those tariff levels.
The tax rate he promised was eliminating corporate taxes completely - again I dont think the congress will support that
Regulatory restrictions I would assume are only going to get pushed if it would help his own businesses.
Might take a minute and look back at what happened when Obama put a massive tariff on Chinese tire imports 2009? I think...the rest of the world responded and we import more tires now than then...otherwise the price of tires would have skyrocketed