Republican tax plan could lead to wave of new factory closures
By Hunter

"Say what you will about the Republican Party, but they are ruthlessly efficient when it comes to screwing American workers: The now-passed Republican tax bill comes with big incentives for American manufacturers to close their U.S. plants and relocate them overseas."
"Under the new law, income made by American companies’ overseas subsidiaries will face United States taxes that are half the rate applied to their domestic income, 10.5 percent compared with the new top corporate rate of 21 percent. [...]"
"What could be more dangerous for American workers, economists said, is that the bill ends up creating a tax break for manufacturers with foreign operations. Under the new rules, beyond the lower rate, companies will not have to pay United States taxes on the money they earn from plants or equipment located abroad, if those earnings amount to 10 percent or less of the total investment."





================================================== ==

So much for Trump's promise of New AMERICAN Jobs right here in this country! The tax breaks are going overseas. Why doesn't Trump instead offer those incentives to companies right here in the United States instead of overseas?