Thank God there’s a good chance Donald Trump will be our next President, because Barack Obama isn’t doing anything to keep businesses in America.
Nearly eight years ago President Obama promised us that he would work to slow the outflow of American jobs to other countries, proposing to revamp a federal tax code that encourages companies to maintain overseas operations. As you’d suspect, if Obama isn’t raising taxes, he doesn’t want anything to do with the tax code. That “revamp” never happened, and we’ve continued to lose jobs overseas.
Some outsourcing is inevitable. If workers in another country can produce something for cheaper, American businesses will set up shop there. Fine.
But that’s only half the story. The U.S. has the highest corporate tax rate in the developed world. You can bet there are plenty of businesses that would rather set up shop and avoid such ridiculous taxes. When businesses leave due to high taxes, it’s the fault of liberalism, not capitalism. Now, as we conclude Barack Obama’s final year in office (thank God), there are five more companies saying bon voyage.
Here’s the list, courtesy of the Conservative Post:
1. Fiat Chrysler: Beginning in 2017: Fiat Chrysler will drive into Mexico and Canada completely withdrawing all car manufacturing from the United States.
2. Nabisco: The maker of Oreos, Chips Ahoy, and Nilla Wafers invested $130 million in a production plant in Mexico back in March, 2016. In the process, the company laid off 600 workers at its Chicago plant.
3. Burger King: The Whopper has a new home. Burger King moved its headquarters to Canada by merging with the Canadian company Tim Horton’s Inc. back in August, 2014.
4. United Technologies Electronic Controls (UTEC): UTEC makes products for the heating, ventilating, and air conditioning (HVAC) industry, and will be closing its plants in Indiana in order to move to Mexico. The company will lay off 700 people by 2018.
5. Carrier: The air conditioning manufacturer is getting some fresh air in Mexico, leaving its Indiana base behind. The company will lay off 1,400 workers across Indiana, and will record a total loss of 2,700 jobs overall in the state.
Thank that Trump would let these businesses get away with this? Of course not. Even if he didn’t pass any laws to prevent it, you can bet he’d draw national attention to it to discourage people from buying from those businesses.
Meanwhile, Obama has said nothing to condemn these businesses. He’d rather you not know, because it’s yet another consequence of the Obama economy. Thank God it’s almost over!
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