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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGOP Tax Promotes Offshoring Of US Jobs
Leo Gerard
December 11, 2017 1:50 am
Ford hit Michigan and its auto workers with some crappy holiday news. Instead of building a $700 million electric vehicle factory in Michigan as promised in January, Ford will construct the plant in Mexico.
Ford reneged on its promise to Michigan workers just days after the Senate passed a tax plan intended to end levies on corporate profits made at factories offshore in places like Mexico. News of the letdown also arrived just days before new negotiations on a revised North American Free Trade Agreement (NAFTA) are to begin in Washington, D.C.
Ford and other giant corporations got what they wanted out of Republicans on taxes, dramatically lower levies on domestic profits and total elimination on foreign profits. That makes Mexico an even more attractive manufacturing site for them than NAFTA did. So now theyre lobbying the Trump administration hard to retain the privileges that NAFTA bestowed on them. If they win that argument, theyll have secured double incentives to offshore.
Trump administration officials dont sound like theyre buying the corporate line, however. And they shouldnt. NAFTA has cost Americans nearly a million jobs as thousands of factories migrated to Mexico. As he campaigned, President Trump promised untold numbers of factory workers and their families across the nations industrial belt that he would fix or end NAFTA to keep jobs and industry in America. He needs to keep that promise.
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http://www.nationalmemo.com/gop-tax-promotes-offshoring-us-jobs/
Wounded Bear
(58,670 posts)democratisphere
(17,235 posts).......in slave wage countries. Anyone that thought the wealthiest would give up their outsourced slaves is delusional.