It's pretty well established the trickle down never worked, except for the rich..
How can it only work for the rich when it cuts taxes for every economic class?
We never closed a plant based on corporate tax rates, because there are already so many loophole advantages the taxes are nothing..
I am not debating whether or not trickle down economics is the deciding factor on whether or not a corporation decides to move overseas or not. What I am saying is that tax cutting across the board is simply an incentive for them not to do so.
Would you debate the opposite? Would it be logical to say raising corporate tax rates would give corporations more incentive to stay in the US?
Tens of thousands of lower wage factory jobs left the USA when Reagan sold the consumer electronics industry to Japan. Zenith, Magnavox and others sued because the Japanese were dumping goods for years in direct violation of law, but our good leaders blocked any enforcement. Even when we won the lawsuit Reagan's crew prevented enforcement and collection. Shortly after Reagan left office, he did this speech with the SAME cartel that was dumping:
Japan Bids Welcome (in 7 Figures) to Reagan - NYTimes.com
Seriously? You cite a near 30 year old NY Times newspaper article which is known to be one of the worst sources of information? Not only that, the article never directly stated Reagan was accepting bribes from Japanese executives. It's entire construction is conspiracy theory equivalent to the Weekly World News.
When Zenith/Heath and other companies moved jobs offshore, it was never about taxes. It was because we could get labor for nothing, and not have to worry about EPA regulations on paint, lead, and other things.
Leggett Platt closed profitable plants and moved things to China, because labor was pennies on the US dollar. It has nothing to do with tax.
Here is a much more reasonable explanation. No one denies the US has been losing jobs to foreign countries with cheaper labor and less regulation. This has been going on for decades. The truth of the matter is the US has not had the benefit of being one of the only few nations on earth who produce practically everything for the world for several decades. Global competition has slowly crept in. A prime example are the US auto manufacturers. There used be mainly only the Big 3 as they called it in the US. Now there is Toyota, Nissan, Hyundai, Kia, Fiat, BMW, Mercedes, Volvo, Audi, all who have major footprints and competition to the American manufacturers much more than they did in the 1950s.
The growing global competition, along with ever growing stricter government regulation, litigation, unions (even though they are shrinking), rising costs, all have played a role in many corporations going overseas to remain competitive.
Yet, in spite of all these facts, it never ceases to amaze conservatives how so many can still buy into the notion that somehow even more
government regulation and taxation will somehow solve the problem.
At the present time, we are pumping money to China at the rate of about $2K or 3K per living citizen per year, man, woman , and child. That is the net LOSS overseas from our wealth, just to communist China. This is why their infrastructure is growing, and ours is falling apart. .
Correct. And, according to Bernie Sanders, Hillary Clinton, and Barack Obama, if you impose more government control via, more regulation and taxation, somehow that will entice these corporations to bring jobs back to the US?
We have drank the cool aid. We are now apparently are too stupid as a whole to realize what the real problem is and fix it.
No, about 48% of the registered voters who voted for democrats have drank the Kool Aid. The other 45% are telling them "I told you so", and the 48% are either too ignorant, scared, or lazy to admit it.