The 50/50 plan or Invest in America First plan...

[Javaman]

(Okay, first let me say, I'm no economist and if this is a completely stupid idea and I'm talking out my ass, pleas tell me so)

It's a fairly simple idea, it goes like this:

Any corporation doing more than 50% of their manufacture & production over seas will have a progressive tax applied to them.

Any corporation doing more than 50% of their manufacture & production here in the states will have a tax break.

As the years go by, the progressive tax will become higher and the tax breaks become lower. Thus providing and incentive for reestablishing our manufacturing base and dissuading the out sourcing of jobs over seas.

That's it. Now please tear this apart. :) This was just a moment of inspiration.

[dysfunctional press]

1. i remember way back when when lil' boots was trying to sell his tax-theft plan for the super-rich...

i think he was talking to some parents & children, and explained how if you give lower the taxes on the really rich people, "maybe they'll take that money and start a business and create jobs..."

and when the obvious point is made that perhaps the tax breaks should be tied to investment and job creation, he comes back with how it's not governments place to tell people how to spend their money...

:banghead:

[Jane Austin]

2. I like your idea. n/t

[papau]

3. treaties say foriegn corps treated the same as domestic relative to domestic business

[NewJeffCT]

4. the problem is

how do you define manufacture & production? If XYZ corporation buys a component from a foreign company for assembly here, is that ok? How about if XYZ opens a factory in China to make this component, which is then transported here where the finished product is assembled?

What about a company that sells food? Is it practical for a company that wants to sell something with a limited freshness in Europe to have to export their food to Europe, or to buy the food directly in Europe and make the food there?

And, what about foreign companies assembling things here? I saw recently that Toyota is the most "American" made car sold here now.

Want to bring at least a few million manufacturing jobs back to the US? Implement universal healthcare. Companies like GM, Ford, GE and UTC have huge operations in Canada because they don't have to pay for employee health care. Toyota also just opened a large plant in Canada instead of the US for the very same reason.

[Javaman]

5. I just come up with the ideas...

I don't have the foggiest on how to implement them. LOL

Thanks for the critique. I thought about that, how would we track what is manufactured and what is produced?

First shell hole through my idea. oh well. :)