Trump vows 35% tax for US firms that move jobs overseas

[Leroy N. Soetoro]

http://www.bbc.com/news/world-us-canada-38202721

US President-elect Donald Trump says he will impose punitive taxes on US
firms that move manufacturing overseas.

Mr Trump promised a 35% tax on products sold in the US by any business
that fired American workers, and built a factory elsewhere.

Firms should be "forewarned prior to making a very expensive mistake", he
said.

Mr Trump has promised to help blue-collar workers, reduce taxes and
regulations on businesses.

"The US is going to substantially reduce taxes and regulations on
businesses, but any business that leaves our country for another country,
fires its employees, builds a new factory or plant in the other country,
and then thinks it will sell its product back into the US without
retribution or consequence, is WRONG!" [sic], the Republican tweeted.

"There will be a tax on our soon to be strong border of 35% for these
companies wanting to sell their product, cars, A.C. units etc., back
across the border," he went on.

"This tax will make leaving financially difficult, but these companies are
able to move between all 50 states, with no tax or tariff being charged.
"Please be forewarned prior to making a very expensive mistake! THE UNITED
STATES IS OPEN FOR BUSINESS."

Last week Mr Trump tweeted a warning to Rexnord Corp, an industrial
supplier based in Milwaukee that plans to move a bearings plant and its
300 jobs from Indiana to Mexico.

"Rexnord of Indiana is moving to Mexico and rather viciously firing all of
its 300 workers. This is happening all over the country. No more!" he
fumed.

Experts have waned that the president-elect will face legal challenges if
he tries to impose tariffs on specific companies without congressional
approval.

Gary Hufbauer, senior fellow at the Peterson Institute for International
Economics, predicted that the US courts would block such a move.

Mr Trump, who defeated Hillary Clinton in the poll, is due to be sworn in
on 20 January.


--
Donald J. Trump, 306 electoral votes to 232, defeated compulsive liar in
denial Hillary Rodham Clinton and put an end to Barack Obama on November
8, 2016. The clown car parade of the democrat party ran out of gas.

ObamaCare is a total 100% failure and no lie that can be put forth by its
supporters can dispute that.

His Omnipotence Barack Hussein Obama, declared himself "Pooptator" of all
mentally ill homosexuals and crossdressers, while declaring where they
will defecate.

Obama increased total debt from $10 trillion to $20 trillion in the eight
years he has been in office, and sold out heterosexuals for Hollywood
queer liberal democrat donors.

Loretta Fuddy, killed after she "verified" Obama's phony birth
certificate.

Obama ignored the brutal killing of an American diplomat in Benghazi, then
relieved American military officers who attempted to prevent said murder
in order to cover up his own ineptitude.