simply plop down a bunch of industrial buildings across the country, facilitated by government money of course.
But the right answer is what, to cram tariffs Trump style and make those foreign goods really expensive?
Everybody in both parties needs to get a grip and understand globalization and universal human freedom means the jobs go to the most efficient place. Until it isn't anymore. The chain will run out. It went through America (the cheap place in the 19th century), Japan, Mexico, South Korea, Taiwan, China. The world is a better place once it is equally expensive to make something everywhere - with the exception of certain geographic advantages of being near the raw materials or having the infrastructure.
I think I have a better idea to fight inflation: Lower your costs, not your wages.
Nice plucked soundbite. Except that you missed the part where he talks about lowering costs.
I think I have a better idea to fight inflation: Lower your costs, not your wages.
Correct. Government price controls should bring down our drug costs to be equivalent with the other industrialized nations. This DOES cut costs for businesses because lower drug costs = lower insurance premiums = lower costs for businesses.
lower the price of electric vehicles, saving another $80 a month that you’ve not going to have to pay at the pump.
Correct. Inflation in the price of gasoline is irrelevant to Americans with an electric vehicle. That cuts all transportation costs, including freight. Freight and transportation cuts costs for businesses. Imagine if every Amazon van were electric, spurred by government incentive, cutting costs for one of our largest corporations.
My plan would cut the cost of childcare in half for most families and help parents, including millions of women who left the workforce during the pandemic because they couldn’t afford childcare to be able to get back to work, generating economic growth.
But my plan doesn’t stop there. It also includes home and long-term care, more affordable housing, pre-K for three- and four-year-olds. All of these will lower costs to families.
Correct. Making education available to three and four year olds would eliminate expensive daycare for working families, especially single parents. Productivity cuts costs for businesses, as more people enter the workforce and they have happier employees who are proven to be more productive.
But hell, how we gonna pay for that?
Last year, 55 of the Fortune 500 companies earned $40 billion in profit and paid zero in federal taxes.
No, look, it’s not fair. That’s why I proposed a 15 percent minimum tax rate for corporations.
Yes, those companies should pay taxes. Starting with a reversal of ill-advised tax breaks that have had marginal benefit if we're being charitable. Those companies don't need to cut costs, they already have whopping margins. Just have less of them.
But wait, if we do that and other countries don't, then won't they "steal" all our jobs and companies will relocate overseas?
We’ve got — and that’s why in the G7 and other meetings overseas we were able to put together — I was able to be somewhat helpful — 130 countries to agree on a global minimum tax rate — so companies can’t get out of paying their taxes at home by shipping jobs and factories overseas. It’ll raise billions of dollars.
Oh.
See what’s happening with ocean carriers moving goods in and out of America. During the pandemic, about half a dozen or less foreign-owned companies raised prices by as much as 1,000 percent and made record profits.
Tonight, I’m announcing a crackdown on those companies overcharging American businesses and consumers.
Not sure how he's going to go about that, but I sure like finding a way to stick it to price gougers. And dumpers, and other unfair international practices.
