Manufacturing in the USA

[John Clark]

I recently saw two charts that vividly contrast the outcome of the economic policies of Trump and Biden.  

Trump wanted to increase US manufacturing and thought he could do that by drastically cutting business taxes, increasing tariffs, and instigating a trade war. But it didn't work, the money business saved by spending less on taxes they didn't use to build new factories or increase research and development funding but instead just used it to buy back their own stock to increase its price; and raising tariffs did nothing but increase the price of consumer goods and decreased the demand for them and so harmed domestic manufacturing.

By contrast under Biden's "Inflation Reduction Act" that subsidized green energy production and his "CHIPS Act" which created incentives to build domestic chip fabrication plants resulted in, as you can see in the above chart,  manufacturing construction more than doubleing over the past year.

John K Clark    See what's on my new list at  Extropolis

g8a

[spudb...@aol.com]

Well, often throwing money at engineering (technology) produces sweet outcomes. I would urge the same for medical-biological breakthroughs. It would be an easy win for those seeking a grande ROI, return-on-investment. 

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