Trump Warns Companies Considering Sending Jobs to Foreign Countries
Trump Warns Companies Considering Sending Jobs to Foreign Countries
One of the many promises president-elect Donald Trump made during his run to the White House was to keep more jobs in America. Now that he has been elected, it appears that he is serious about this promise. Trump recently made it very clear, in no uncertain terms, that companies that try to shift jobs or business operations overseas and then bring that money back here by selling their products in the U.S., without consequences, have another thing coming.
Trump warned businesses that following such a plan would earn them a 35 percent tax if they try to sell their products in America. There is good news though, as Trump has said he plans to significantly reduce regulations and taxes on corporations, which is designed to encourage companies to keep their employees and operations stateside instead of moving them overseas to more tax-friendly locations.
In several posts on Twitter, Trump stated: “The U.S. 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 U.S. without retribution or consequence, is WRONG! There will be a tax on our soon to be strong border of 35% for these companies.”
Trump hopes his stern warning will be enough to deter businesses from manufacturing so many product outside of the U.S. and thus produce more jobs for Americans.
http://www.voanews.com/a/trump-issues-new-warning-to-us-corporations-moving-jobs-overseas/3622375.html
We hope you found this article about “Trump Warns Companies Considering Sending Jobs to Foreign Countries” helpful. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
To receive our free newsletter, contact us here.
Subscribe to our YouTube Channel for more updates.
Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
GROCO.com is a proud sponsor of The American Dreams Show.
The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.
Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.
The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.
They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..
American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included:
Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work…
MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness. It’s mission statement:
In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges.
Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.
Understanding the Venture Capital Investor
Understanding the Venture Capital Investor By Gerard Brandon Promoting your Business to Venture Capital Investors is an attractive proposition. The investments are larger than you would get from friends, family and Angel Investors, and often they are more willing to invest in subsequent fund raising rounds. But Venture Capital investors are not always the easiest…
Defining the First Six Stages of a Business in the Venture Capital World
Defining the First Six Stages of a Business in the Venture Capital World Stage 1 Enterprise has no product revenue to date and limited expense history, and typically an incomplete management team with an idea, plan, and possibly some initial product development. Typically, seed capital or first-round financing is provided during this stage by friends…
IRS Circular 230 Disclosure
To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this document is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing, or recommending to another party…
Investment
Investment Financial Planning Crafting an investment strategy requires an assessment of resources, development of objectives, analysis of choices and opportunities, and, finally, matching of those alternatives to long-term goals. It’s not an end in itself, but a means to make certain that you and your loved ones will be financially secure and that you will…