I tend to look at things in a fairly simplistic manner: if what we in the U.S. are doing is pissing off the EU, then we’re doing the right thing.
I’m just pleased to see that I’m not the only one who thinks this way, at least in the case of the new law which lowers corporate tax rates, and which has caused the EU to whine:
The GOP tax plan will cause companies to flee Europe and return to the US.
The plan will cause companies to move operations to the US, creating jobs for American workers, creating more demand for American labor. And in increase in demand invariably (this is really basic economics here) drives up the price meaning American workers, on balance, can be expected to be paid more.
…
More companies doing their business in the US rather than overseas is almost by definition growth in the US economy. And economic growth means a larger base for the taxation that remains which offsets the reduced rate.
In short, what Europe is complaining about is that the tax reform will do exactly what the GOP promised for it. The Democrats can scream about “the one percent” and “tax breaks for the rich” (tax break, as a percentage is actually mostly on the middle class, but they never let truth stop them, neither the Democrat politicians nor their cheering section in the major media). Meanwhile finance ministers in Europe fear not the claims of the Democrats, but that it will actually do what the GOP promised.
So there ya go. Trump/Republican tax plan 1, EU 0.
It’s not just the Euroweenies either.
Up here in Canuckistan there is weeping and wailing from the usual liberal, lefty, arseholes.
For years we had a corporate tax rate about half that of the USA and poached a lot of business. Now the US rate will be about a percent less than ours.
It was damn easy to move US operations up here and it’ll be damn easy to move them back.
I tried to tell my liberal friends and relatives the same damn thing since before the election. Of course, they were unable to listen to me. I was predicting a Trump win 3 months before the election, when all the polls had Hillary by a landslide. They were laughing at me. I kept on saying the same thing. They kept laughing. Till the night of the election. They stopped laughing one by one. Some of them started crying, others cussing.
I had also tried to explain that corporations never paid taxes, but that they passed them down to the people purchasing their products, the consumer. I don’t think they got it. But somebody gets it. And somebody also gets that a rising tide raises all boats at the same time. When the middle class starts to do much better than they were doing, and the chronically unemployed starts to have good jobs again, you will see the Democrats do their final nosedive.