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.
How to Find the Right Investment Advisor
Are you looking to invest? Perhaps you just want some help with your financial planning or even your estate planning. Finding someone that can truly help you is difficult sometimes, simply because there are so many options to choose from. The Internet is full of so-called experts that can help you make wise investments and…
What’s the Deal With U.S. Corporate Taxes?
What’s the Deal With U.S. Corporate Taxes? There has been a lot of back-and-forth amongst lawmakers and political pundits in the media lately regarding U.S. companies switching their addresses to foreign locations in order to avoid corporate taxes. One side claims that there is nothing wrong with such deals, while many democratic lawmakers, including President…
Is the Government Going to Tax You for Using the Internet?
Is the Government Going to Tax You for Using the Internet? Taxes, taxes and more taxes: that appears to be the government’s answer for just about every problem we face in society. There seems to be no end to the list of things that the government wants to tax. Now it seems that Americans could…
Expecting An Audit? Expect to Wait
Expecting An Audit? Expect to Wait Have you ever been audited by the IRS? Have you been told that you might be audited soon? Are you waiting to be audited right now? If you answered yes to any of these questions, then chances are you have either played the waiting game or you’re playing it…