Quote:
Originally Posted by lane912
then what would give manufacturing and large industry a reason to reopen or build new plants and hire americans? this has to be key to any recovery-
open to listening to your ideas
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A total restructuring of our taxation system. At present, imports are given very favorable tax status, since the products are produced in a place where the corporate taxes are low. Most of these countries "balance" between a VAT and income taxes. The VAT is not applied to things sent overseas.
I do not like VAT because it is a hidden tax. It is the correct type of tax, a consumption tax. If we changed to a national sales tax, while eliminating all income and payroll taxes, our country would be ripe for manufacturing. Maybe not low-tech/high labor stuff. But anything that is high value/high tech, will move to the US, for WORLDWIDE sales.