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Tax Tactic: Trump Proposes 35 Per Cent Outsourcing Levy On Companies

Republican presidential nominee Donald Trump has pledged to impose 35 per cent tax on US companies that lay off workers, while outsourcing their production to other countries.

He unveiled his proposal at separate rallies in Tampa, Florida, Wilmington and North Carolina, states he must win in order to be elected against Democratic candidate Hillary Clinton, EFE news reported.

Trump said in Tampa that, if elected president, he will stop America’s prosperity from being stolen and will do it fast – because if a company lays off its workers and goes to some other country, and then ships its products back to the US, he’ll make it pay a 35 per cent tax, a message he repeated in North Carolina.

Trump has based his campaign on a protectionist pitch against trade treaties like the North American Free Trade Agreement and the Trans-Pacific Partnership because they take jobs away from the US.

The candidate has promised to restore manufacturing jobs that have been lost because of technological innovations and globalisation, but have given way to other kinds of employment. Trump has said the cited trade agreements do the US no good and must be renegotiated in order to benefit Americans.

At the same time, he promised tax policies that, he said, will bring jobs back to the US, beginning with a cut in corporate taxes from 35 per cent to 15 per cent.

With inputs from IANS.

Article source: http://swarajyamag.com/insta/tax-tactic-trump-proposes-35-per-cent-outsourcing-levy-on-companies

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