No president–much less a president-elect!–has ever been as hands-on about cutting bloated spending as Trump has been. ANd it’s only been one month since he won the general election.
Believe it or not, according to Breitbart News, “a Chinese auto glass tycoon has caused a stir by shifting part of his empire to the United States and setting up a factory in Ohio, citing high taxes and soaring labor costs at home.”
Cao Dewang’s Fuyao Glass Industry Group is a supplier to big names like Volkswagen and General Motors, and claims to be the biggest exporter of auto glass in the world, reporting 2.6 billion yuan ($370 million) profits from last year alone.
Cao Dewang’s $600-million investment comes after Donald Trump threatened to declare Beijing a “currency manipulator”–i.e., to call a spade a spade–and to raise a 45% punitive tariff on Chinese imports to protect American jobs.
The 70-year-old Chinese tycoon’s decision to open –notice, not RE-open, but simply OPEN–a glass factory in Ohio in October triggered an outpouring of criticism on social media in China. In response Cao defended himself in an interview with the Beijing News on Wednesday, saying he “The center of my business is in China because I’m Chinese.” By relocating his business operations to America, Cao said, “I’m merely reminding the government that taxes and labor costs are too high in China.”
Amazingly, Cao said China is home to the “world’s highest taxes” and that the manufacturing industry there suffers under taxes 35 percent higher than those imposed by the US.
Even more amazingly, the Communist Party mouthpiece, the People’s Daily, defended Cao’s remarks on Thursday, saying that the fact that “entrepreneurs dare to raise problems means (they) still hold confidence in China’s economy”.
But, Mr. Obama, I thought the rust belt was never going to see jobs come back.
Obama asked how Trump would do bring manufacturing jobs back–by waving a “magic wand”?
No magic, Barry.
People like Cao can see the handwriting on the wall, and are planning accordingly. All Trump has to do is lower the tax rate in America and ther entrepreneurs like Cao will pour in.
Speaking of “pouring in,” while Obama has spent eight years making sure that more immigrants than ever pour into America, and that 99% of them are Muslim, Trump is already paving the way for entrepreneurs, investments, and jobs to pout BACK INTO America.
Dubya was a failed “conservative.” But how many of these jobs under Obama were filled by illegal aliens?
Economic changes like this are a key part of defeating the damage caused by open borders and the Muslim infestation. When Americans can again take the “jobs Americans won’t do,” there will be no need our room for cheap illegal labor and unchecked Muslim enclaves.
The disappearance of conventional full-time work, 9 a.m. to 5 p.m. work, has hit every demographic. “Workers seeking full-time, steady work have lost,” said one of the lead researchers.
Under Obama, 1 million fewer workers, overall, are working than before the beginning of the Great Recession. Worse (for a feminist like Obama), female workers suffered most heavily in this economy, as work in traditionally feminine fields, like education and medicine, declined during the era.
In the 1980s, the Reagan agenda had quarterly growth rates of 6, 7 and even 8%. Over the course of his administration, the nation created about 2 million jobs per year. Now, that’s a recovery! And Trump is right that if India and China can grow at 8 to 10%, surely we can aspire to half that growth rate.
Here’s how Trump will ramp up growth.
First, Trump will enact the biggest pro-growth tax cut since Ronald Reagan’s 1981 reform. Trump will simplify the tax code and significantly reduce marginal rates, encouraging investment and economic expansion. His proposed corporate tax rate of 15% would make it easier for American firms to repatriate earnings, bringing capital back to these shores.
The House tax bill is similar to Trump’s. We can get this through Congress in the first 150 days.
The Tax Foundation says this will add about $150 billion in higher output.
Next, a pro-growth energy policy would develop all of America’s abundant resources — oil, natural gas and coal. Trump’s plan could make America the world’s No. 1 energy producer within five years, producing millions of new jobs and trillions of dollars of extra output — along with new royalty payments to the government. And we will not waste hundreds of billions of dollars subsidizing solar panels. Sorry, Elon Musk.
Even former Bill Clinton campaign manager Jim Carville admitted on Tuesday night that ObamaCare is Obama-Gone. It’s the fastest-growing entitlement program of all, and it will be replaced with a consumer-choice health plan. This will cut costs for families and businesses by as much as 30%.
On the regulatory front, Trump wants to immediately repeal dozens of President Obama’s anti-business executive orders. At the top of the stack headed for the dustbin is the Clean Power Plan that has put tens of thousands of our coal miners out of work.
I am for free trade and don’t always agree with Trump on this issue. But he understands that the U.S. needs trade, and he himself said: “I am not an isolationist.”
Trump wants to negotiate from a position of strength with countries that steal Americans’ intellectual property or compel companies to disclose trade secrets as a condition of entering their markets. Negotiating better trade deals and enforcing the current ones would increase jobs in export industries such as agriculture and technology.
Trump will also bring an America-first, pro-business approach to economic policy. Having someone in the White House who knows how to run a business and meet a payroll has to be a psychological lift for this battered and bruised economy.
The Democrats and their gang of pundits assure us that 4% growth cannot and will not happen under President-elect Trump. But let’s not forget: These are the same geniuses who have assured us for the last year that there would never be a President Trump. Wrong again.