President-elect Donald Trump’s proposed tariffs have already begun to upend businesses in several industries and many are taking action to safeguard their profits. The tariffs, which include a 10-20% tax on all imports and a potential 60-100% on goods from China, are causing significant concern – and the costs are likely coming right to consumers' wallets. Don't Miss: This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro and Sweet
It’s crazy to me that outsourcing labor is such a common practice that these mega-corporations can simply shuffle factories around to keep their labor costs soul-crushingly low. Bringing the factories back to the US is a laughable suggestion for these companies at this point. Stuff should cost a lot more, and the people who work the factories should also receive more. I suspect the only people getting more money out of this will be Trump and the mega corporations.
Technically the money is going to the government’s coffers so it’s one way to compensate for lowering taxes… The problem being that it affects those with less money much more than those who are rich, contrary to taxes which are usually progressively higher as people make more money…
The problem being that it affects those with less money much more than those who are rich, contrary to taxes which are usually progressively higher as people make more money…
It’s crazy to me that outsourcing labor is such a common practice that these mega-corporations can simply shuffle factories around to keep their labor costs soul-crushingly low. Bringing the factories back to the US is a laughable suggestion for these companies at this point. Stuff should cost a lot more, and the people who work the factories should also receive more. I suspect the only people getting more money out of this will be Trump and the mega corporations.
Technically the money is going to the government’s coffers so it’s one way to compensate for lowering taxes… The problem being that it affects those with less money much more than those who are rich, contrary to taxes which are usually progressively higher as people make more money…
Funny how that works ಠ_ಠ