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> Sure, dramatically lower the corporate income tax rate and substantially reduce the massive over-regulation in the US economy. That's a great way to destroy
by Ironchefpython 10y ago
> Sure, dramatically lower the corporate income tax rate and substantially reduce the massive over-regulation in the US economy.
That's a great way to destroy the environment and increase corporate profits, but I was asking about how to get companies to ignore the profit of offshoring; how to convince them to act in direct opposition to their shareholder's interests, and not take advantage of the subsidies provided by state capitalist systems and locate manufacturing overseas.
All cutting the tax rate is going to to is make offshoring more profitable. At no time in US history has a tax cut been correlated with business growth and job growth. Quite the contrary, The Bush tax repatriation holiday gave many businesses the working capital to invest in closing plants and moving factories overseas, resulting in the net job losses in many industries. But if you have hard data on examples of cutting taxes below a top marginal rate of 40% in western countries having any effect other than increasing income inequality, I'd love to see your peer reviewed study.
And is there a particular regulation that you can think of cutting that would have more of lure for for domestic manufacturing than China dumping trillions of dollars into currency manipulation and building infrastructure and manufacturing subsidies?