Bernie Sanders Releases Plan for WallStreet

[bladefd]

https://www.youtube.com/watch?v=eL0uV-qJvYM

Bernie Sanders:

To those on Wall Street, let me be very clear. Greed is not good. In fact, the greed of Wall Street and corporate America is destroying the fabric of our nation. And here is a promise I will make as president: If Wall Street does not end its greed, we will end it for them.

As most people know, in the 1990s and later, financial interests spent billions of dollars in lobbying and campaign contributions to force through Congress the deregulation of Wall Street, the repeal of the Glass-Steagall Act, and the weakening of consumer protection laws.

They paid this money to show the American people all that they could do with that freedom. Well, they sure showed the American people. In 2008, the greed, recklessness, and illegal behavior on Wall Street nearly destroyed the U.S. and global economy. Millions of Americans lost their jobs, their homes, and their life savings.

Meanwhile, the American middle class continues to disappear, poverty is increasing, and the gap between the very rich and everyone else is growing wider and wider by the day. But the American people are catching on. They also know that a handful of people on Wall Street have extraordinary power over the economic and political life of our country.

We must act now to change that. Our goal must be to create a financial system and an economy that works for all Americans, not just a handful of billionaires.

There are eight points to my plan, and I want to go through each of them here because I think it's important for our campaign to discuss specific policies with our supporters. Some of this may seem a little in the weeds, but I trust our supporters to be able to handle this kind of policy discussion.

Here's my plan for what I will do with Wall Street when I am president:

Break up huge financial institutions in the first year of my administration. Within the first 100 days of my administration, I will require the Secretary of the Treasury to establish a “Too Big to Fail” list of commercial banks, shadow banks, and insurance companies whose failure would pose a catastrophic risk to the U.S. economy without a taxpayer bailout. Within one year, my administration will break these institutions up so that they no longer pose a grave threat to the economy.

Reinstate a 21st Century Glass-Steagall Act to clearly separate traditional banking from risky investment banking and insurance services. It is not enough to tell Wall Street to "cut it out," propose a few new rules and slap on some fines. Under my administration, financial institutions will no longer be too big to fail or too big to manage. Wall Street cannot continue to be an island unto itself, gambling trillions in risky financial instruments. If an institution is too big to fail, it is too big to exist.

End too-big-to-jail. We live in a country today that has an economy that is rigged, a campaign finance system which is corrupt, and a criminal justice system which often does not dispense justice. The average American sees kids being arrested and sometimes even jailed for possessing marijuana. But when it comes to Wall Street executives — some of the most wealthy and powerful people in this country whose illegal behavior hurt millions of Americans — somehow nothing happens to them. No jail time. No police record. No justice.

Not one major Wall Street executive has been prosecuted for causing the near collapse of our entire economy. That will change under my administration. “Equal Justice Under Law” will not just be words engraved on the entrance of the Supreme Court. It will be the standard that applies to Wall Street and all Americans.

Establish a tax on Wall Street to discourage reckless gambling and encourage productive investments in the job-creating economy. We will use the revenue from this tax to make public colleges and universities tuition free. During the financial crisis, the middle class of this country bailed out Wall Street. Now, it’s Wall Street’s turn to help the middle class.

Cap Credit Card Interest Rates and ATM Fees. We have got to stop financial institutions from ripping off the American people by charging sky-high interest rates and outrageous fees. In my view, it is unacceptable that Americans are paying a $4 or $5 fee each time they go to the ATM. And it is unacceptable that millions of Americans are paying credit card interest rates of 20 or 30 percent.

The Bible has a term for this practice. It's called usury. And in The Divine Comedy, Dante reserved a special place in the Seventh Circle of Hell for sinners who charged people usurious interest rates. Today, we don't need the hellfire and the pitchforks, we don't need the rivers of boiling blood, but we do need a national usury law.

We need to cap interest rates on credit cards and consumer loans at 15 percent. I would also cap ATM fees at $2.

Allow Post Offices to Offer Banking Services. We also need to give Americans affordable banking options. The reality is that, unbelievably, millions of low-income Americans live in communities where there are no normal banking services. Today, if you live in a low-income community and you need to cash a check or get a loan to pay for a car repair or a medical emergency, where do you go? You go to a payday lender who could charge an interest rate of over 300 percent and trap you into a vicious cycle of debt. That is unacceptable.

We need to stop payday lenders from ripping off millions of Americans. Post offices exist in almost every community in our country. One important way to provide decent banking opportunities for low-income communities is to allow the U.S. Postal Service to engage in basic banking services, and that's what I will fight for.

Reform Credit Rating Agencies. We cannot have a safe and sound financial system if we cannot trust the credit agencies to accurately rate financial products. The only way we can restore that trust is to make sure credit rating agencies cannot make a profit from Wall Street. Under my administration, we will turn for-profit credit rating agencies into non-profit institutions, independent from Wall Street. No longer will Wall Street be able to pick and choose which credit agency will rate their products.

Reform the Federal Reserve. We need to structurally reform the Federal Reserve to make it a more democratic institution responsive to the needs of ordinary Americans, not just the billionaires on Wall Street. It is unacceptable that the Federal Reserve has been hijacked by the very bankers it is in charge of regulating. When Wall Street was on the verge of collapse, the Federal Reserve acted with a fierce sense of urgency to save the financial system. We need the Fed to act with the same boldness to combat the unemployment crisis and fulfill its full employment mandate.

Thoughts?

[Nick Young]

Bernie Sanders is a moron but he's the lesser of the three evils between Trump, Hillary and himself IMO.

[Draz]

Burn baby burn

[fiddy]

Oh wow, election promises, how kew

[Trollsmasher]

too bad Bernie, most rich people will bail out of the country before you are sworn in

does he think these people are idiots?

[Rose]

Lets ban populism. Can we do that?
Okay, thanks.
Someone sounds like a butthurt rich kid. You mad we gonna be on an even playing field now trust fund baby?

[Akrazotile]

Sanders: Let's do everything we can, to keep ordinary Americans from having to be accountable for their lives! That's the government's job! Let's pretend the economy hasn't changed since 1950, and there are still plenty of middle class jobs available in manufacturing!

Let's pretend every poor immigrant who comes here and uses up more social resources than he produces is worth it, because....

because.....


F*** WALL STREET!!!!!


Sheep: YYYYYYYYYEEESSSSSS!!!!!!!!

[Jameerthefear]

:coleman:
Anybody hear about Bernie Sanders rape fantasy erotica? Probably the coolest thing hes ever done tbh.
:biggums:

[Nanners]

how exactly is bernie going to make all of these things happen? is he just gonna wave his magic wand or what?

[oh the horror]

how exactly is bernie going to make all of these things happen? is he just gonna wave his magic wand or what?



The same way Trump is going to build a magical wall around America.



They're not. None of this politicians are going to do any of these things

[Akrazotile]

how exactly is bernie going to make all of these things happen? is he just gonna wave his magic wand or what?


It's real simple. We create government agencies full of good, trustworthy, uncorruptible Americans to stand outside of every business in the country with a pair of binoculars. When an indiscretion occurs, they blow a 'violation whistle.'

This way, Americans don't have to pay attention. Afterall, Spiderman IXVICI is about to be released. Gotta stay focused.

Since the good, trustworthy, incorruptible bureaucrats are on the job, we know that they won't be paid off by these companies to look the other way (in addition to the government salary they're getting with tax dollars) because that never happens when you create a government bureaucracy. See, corruption is only a function of the private sector. Government programs are actually unable to be corrupted, due to the way they're structured. It's something a devout liberal man invented in a chemistry lab many hundreds of years ago. However, that history isn't really PC so let's just say it was a woman who invented it in the lab. Ok. So now that's the history. This woman invented corruption-proof government in a science lab many hundred years ago.

The Republicans have been guarding the secret in a vault beneath Mt. Rushmore since America's inception. But one man, has the key. However, he has hidden it.

The clues are in his graphic rape erotica novel, so go read that and you will find out how to unleash America's utopia!!!!!!!!!

[Godzuki]

no way he could pull half of that shit off :oldlol:

sounds good for votes but they'll just move off shore and America will lose money because the stock market will dive.

and thats if he could even enact 1/4 of it with enough support.

bernie is the CON-summate pandler :bowdown:

[Akrazotile]

no way he could pull half of that shit off :oldlol:

sounds good for votes but they'll just move off shore and America will lose money because the stock market will dive.

and thats if he could even enact 1/4 of it with enough support.

bernie is the CON-summate pandler :bowdown:


His voters will absolutely love it.

Let's take a look at some of them:

http://cdn77.eatliver.com/wp-content/uploads/2014/11/dumb-liberal1.jpg
http://cdn77.eatliver.com/wp-content/uploads/2014/11/dumb-liberal2.jpg
http://cdn77.eatliver.com/wp-content/uploads/2014/11/dumb-liberal4.jpg
http://cdn77.eatliver.com/wp-content/uploads/2014/11/dumb-liberal7.jpg
http://cdn77.eatliver.com/wp-content/uploads/2014/11/dumb-liberal10.jpg

[KyrieTheFuture]

I like bernie because between the 3 main candidates, he has the best shot at getting both sides to work together. Dems HATE Trump and the GOP HATES Hillary. Either of them will make the Obama era seem like everyone sang kumbaya and hung out on the weekends together.

[Jameerthefear]

I like bernie because between the 3 main candidates, he has the best shot at getting both sides to work together. Dems HATE Trump and the GOP HATES Hillary. Either of them will make the Obama era seem like everyone sang kumbaya and hung out on the weekends together.
bernie is a socialist. there's NO WAY IN HELL he'll be able to get anything done.

[Norcaliblunt]

Can we all at least agree that people who run banks that practice reckless/fraudulent lending practices, and the credit rating agencies that prop them up should be held accountable?

[97 bulls]

Can we all at least agree that people who run banks that practice reckless/fraudulent lending practices, and the credit rating agencies that prop them up should be held accountable?
Exactly. Some of these morons seem offended that Sanders would even mention such acts. Laws have been implemented (many at the be hest of big business ) to keep the little man in line, why not the other way around.

I agree with everything Sanders stated. He just missed the part about taxing the hell out of businesses that set up shop overseas to save money only to make more and take more here in the States.

[Akrazotile]

Can we all at least agree that people who run banks that practice reckless/fraudulent lending practices, and the credit rating agencies that prop them up should be held accountable?


Accountable for breaking laws, absolutely.

Accountable for "doing teh good" is the consumer's responsibility to HOLD businesses accountable for.

If you dont like wall street, dont give your business to publicly traded companies. It's that easy.

[Akrazotile]

Exactly. Some of these morons seem offended that Sanders would even mention such acts. Laws have been implemented (many at the be hest of big business ) to keep the little man in line, why not the other way around.

I agree with everything Sanders stated. He just missed the part about taxing the hell out of businesses that set up shop overseas to save money only to make more and take more here in the States.


So answer a question for me, please.

You would like to make more money, yes? Whatever your current job or financial situation is, you would like to have more? Is that fair to say?

[Norcaliblunt]

Accountable for breaking laws, absolutely.

Accountable for "doing teh good" is the consumer's responsibility to HOLD businesses accountable for.

If you dont like wall street, dont give your business to publicly traded companies. It's that easy.

How are the consumers supposed to know when the credit rating agency is cooking the books?

[Hawker]

Exactly. Some of these morons seem offended that Sanders would even mention such acts. Laws have been implemented (many at the be hest of big business ) to keep the little man in line, why not the other way around.

I agree with everything Sanders stated. He just missed the part about taxing the hell out of businesses that set up shop overseas to save money only to make more and take more here in the States.

Can you actually name multiple examples of this happening? And why is this the corporation's fault and not the fault of the US government for creating an unappealing business environment?

And these companies that set up shop overseas, can you prove that they are not paying taxes in the countries where they are supposedly operating? Remember, it's a global economy now. It's not the 1950s.

And can you provide any sources that would show how much tax would be brought in from taxing these companies? My guess is sweet **** all. The money that it would take to manage a program to find these corporation will probably cost more than the money it brings in. The US shouldn't have the right to look into foreign companies profits and bank accounts. FATCA has been estimated to cost more money to operate than the amount of tax revenue it will supposedly bring in.

You're just spouting off liberal talking points you heard in a debate without doing any actual research. Nobody has ever provided numbers...just empty rhetoric.

[97 bulls]

So answer a question for me, please.

You would like to make more money, yes? Whatever your current job or financial situation is, you would like to have more? Is that fair to say?
Off course I would what's the point?

[Akrazotile]

How are the consumers supposed to know when the credit rating agency is cooking the books?

Perhaps investors could do their own research, since the pertinent info is usually available, but Im not a finance expert so I cannot tell you if this is one of the things that is already regulated and to what degree, of if it isnt. I dont know.

But things like putting banks in the post office? Stoppit. We all know who this is for. Poor blacks and mexicans. And we shouldnt have nearly as many of these people as we do in thr first place. We let mexicans come here illegally in droves and blacks multiply like crazy out of wedlock, all while moving toward a service economy?

Thas the real problem, but we know, we know... You wont call it like it is. You and Sanders are trying to come up with ANY scheme you can to just avoid the honest, "offensive" truth. Maybe if you would face it, we can figure out how to keep the problem from growing.

But so long as you wanna blame the 'system' and not the actual dynamics, all this convoluted stuff is gonna just be a bandage, with barely any adhesive.

Personally Id be much, much more willing to work with the left on things if they came to terms with reality FIRST.

[Norcaliblunt]

Perhaps investors could do their own research, since the pertinent info is usually available, but Im not a finance expert so I cannot tell you if this is one of the things that is already regulated and to what degree, of if it isnt. I dont know.

But things like putting banks in the post office? Stoppit. We all know who this is for. Poor blacks and mexicans. And we shouldnt have nearly as many of these people as we do in thr first place. We let mexicans come here illegally in droves and blacks multiply like crazy out of wedlock, all while moving toward a service economy?

Thas the real problem, but we know, we know... You wont call it like it is. You and Sanders are trying to come up with ANY scheme you can to just avoid the honest, "offensive" truth. Maybe if you would face it, we can figure out how to keep the problem from growing.

But so long as you wanna blame the 'system' and not the actual dynamics, all this convoluted stuff is gonna just be a bandage, with barely any adhesive.

Personally Id be much, much more willing to work with the left on things if they came to terms with reality FIRST.

Did not read.

[Akrazotile]

Did not read.


Why did we let the low income population explode as we moved away from a manufacturing economy?

Was that a good move?

Dont dodge. Tell me what u think.

[DonDadda59]

Nothing he proposes is outlandish or unrealistic. In fact, a lot of his ideas were at one time law. Glass-Steagall was the law of the land following the Great Depression and following the repeal of some of its provisions (via Gramm-Leahy-Bliley) we saw the Great Recession. Obama was able to get Dodd-Frank regulations passed. Not out of the realm of possibility that Glass-Steagall could be reinstated/expanded.

The U.S. has/had anti-trust laws in place that allow for the break up of companies/corporations deemed to be monopolies. Not unrealistic that they could be altered to target 'too big to fail' conglomerates.

And States already provide free education for every citizen from kindergarten through 12th grade (as well as providing a bunch of different funds for higher education)... Don't know why it's so crazy to think that public colleges could be free as well. He even provides a source for that plan.


Can we all at least agree that people who run banks that practice reckless/fraudulent lending practices, and the credit rating agencies that prop them up should be held accountable?

Kind of odd to see common people shilling for companies and practices that nearly destroyed our economic system. Like why would you be against laws that prohibit fraudulent and destructive practices like handing out subprime loans, off shore tax havens for corporations, etc? :biggums:

It makes no sense whatsoever.

The few people who caused the meltdown made off like bandits while the country (and the World over) as a whole took the brunt of it and worse yet... had to bail out the people who were responsible.

You may not agree with Bernie personally or consider yourself a 'socialist'... But why on Earth would anyone outside of a relative handful of bankers and finance types be in favor of more of that? :confusedshrug:

[ThePhantomCreep]

no way he could pull half of that shit off :oldlol:

sounds good for votes but they'll just move off shore and America will lose money because the stock market will dive.

and thats if he could even enact 1/4 of it with enough support.

bernie is the CON-summate pandler :bowdown:

Why does the average taxpayer pay an average of $870 a year in "special tax provisions" for corporations (AKA: corporate welfare)?

Read the highlighted portion of this post. Nothing like playing on the fears of right-wing nut jobs to get what you want.

[DonDadda59]

Why does the average taxpayer pay an average of $870 a year in "special tax provisions" for corporations (AKA: corporate welfare)?

Read the highlighted portion of this post. Nothing like playing on the fears of right-wing nut jobs to get what you want.

Hilarious that the people who always rail against 'handouts' have no idea that corporate welfare costs them far more than covering food stamps. At least with food stamps, that money will be recycled back into the economy... Meanwhile those corporate handouts are going straight to the Cayman Islands. :lol

[Akrazotile]

Kind of odd to see common people shilling for companies and practices that nearly destroyed our economic system. Like why would you be against laws that prohibit fraudulent and destructive practices like handing out subprime loans, off shore tax havens for corporations, etc? :biggums:

It makes no sense whatsoever.

The few people who caused the meltdown made off like bandits while the country (and the World over) as a whole took the brunt of it and worse yet... had to bail out the people who were responsible.

You may not agree with Bernie personally or consider yourself a 'socialist'... But why on Earth would anyone outside of a relative handful of bankers and finance types be in favor of more of that? :confusedshrug:


Part of being an American citizen should be understanding the need to be informed, prudent, and principled as an INDIVIDUAL.

People who dont wanna have to think for themselves, dont wanna be expected to make any sacrifies, and dont wanna have to make sound judgements with their money want to create a government agency to do all their thinking. Thats TERRIBLE for the American mentality. Its like these campus fakkits being babied with safe spaces.

Should we have a government agency to make sure everyon gets up in the morning? Should all alarm clocks be hooked up to a federal circuit board, and you email them the time you need to get up in the morning, and a union operator with phat benefits and a pension sets your alarm?

"I mean, why WOULDNT you want that? People shouldnt have to set their alarms. Businesses want you to show up to work on time, they need to be taxed to pay for my alarm service. I swear, bunch of corporate shills here."

[bladefd]

sounds good for votes but they'll just move off shore and America will lose money because the stock market will dive.

Thing is where would the wall street companies move off to?

If we look at global distribution of wealth, they won't make same money anywhere else. European countries are more socialist than even USA would be under Bernie Sanders. Australia has very high tax, limited resources, and very strict. Asia doesn't have enough wealth to make it up.. Japan somewhat does, few middle-east countries like Qatar have big oil money. Africa, South America - forget it.. Maybe South Africa or Argentina. Industries like big pharma & others on Wallstreet know that nobody else will tolerate their greed like USA has the last 40-50 years.. Where will they move and make as much money as they do in USA?

[Akrazotile]

And the fukking purpose of journalism is to expose companies when they ARE doing some bullshit, whic they often ARE and theres no question about that.

Maybe if our media shit wasnt dominted by michael brown and trayvrawnz martin and every crackhead that gets himself capped for BEING A CRACKHEAD we'd have a little more focus on that shit.

The problem is everyone wants to play their video games, watch their VMA's, talk about crackheaded criminals being handled too roughly, and think the government owes them a fukking rolled out red carpet through life.

Yall priorities are so warped its ridiculous.

[shlver]

Yes and it's usually government social policy that results in excessive spending. Just like government policy pushing home ownership played a role in the 2008 crash. Remember that it wasn't just the top execs that were being greedy. It was also bankers running off with commission utilizing predatory loans. People all the way down to the homebuyers were greedy. People wanted houses they couldn't afford, bankers approved because they wanted to get paid and the government policy made irresponsible lending be perceived as okay if it lead to home ownership. The intelligent and very greedy, created industries around these packaged mortgage loans and bet against them and made massive amounts of money.

[DonDadda59]

Part of being an American citizen should be understanding the need to be informed, prudent, and principled as an INDIVIDUAL.

People who dont wanna have to think for themselves, dont wanna be expected to make any sacrifies, and dont wanna have to make sound judgements with their money want to create a government agency to do all their thinking. Thats TERRIBLE for the American mentality. Its like these campus fakkits being babied with safe spaces.

Should we have a government agency to make sure everyon gets up in the morning? Should all alarm clocks be hooked up to a federal circuit board, and you email them the time you need to get up in the morning, and a union operator with phat benefits and a pension sets your alarm?

"I mean, why WOULDNT you want that? People shouldnt have to set their alarms. Businesses want you to show up to work on time, they need to be taxed to pay for my alarm service. I swear, bunch of corporate shills here."

Yeah that's not necessary. What we should have is an overhaul of the tax code to make sure that the corporate welfare virtually every American covers (http://www.commondreams.org/views/2013/09/23/add-it-average-american-family-pays-6000-year-subsidies-big-business) stops ending up in the Cayman Islands or Bermuda. :lol


Bermuda, Cayman Islands are top tax havens for U.S. firms

WASHINGTON – Bermuda and the Cayman Islands are the top tax havens for American corporations to legally reduce their federal tax liability, a study by U.S. PIRG and Citizens for Tax Justice concludes.

More than 64 percent of Fortune 500 companies had a subsidiary in Bermuda or the Cayman Islands as of 2013, the examination of company annual reports and securities filings showed.

Both countries have no corporate income taxes in contrast to the 35 percent corporate tax rate in the United States.

The two liberal groups released the report at a time when Congress and the Obama administration are considering an overhaul of the corporate tax code.

Fortune 500 companies collectively hold $1.95 trillion in foreign accounts, according to the report by U.S. PIRG and Citizens for Tax Justice.

"We're looking at tax havens seriously and closing loopholes,'' Democratic Sen. Chuck Schumer said in an interview. I don't know anything about this report, but there are a lot of loopholes that ought to be closed.''

There is widespread bipartisan congressional support for enacting a lower corporate tax rate with fewer loopholes. Cracking down on the legal tax avoidance by multinational corporations that can book profits overseas at a much lower effective tax rate could be a key component of a tax overhaul.

The awareness has been heightened by Pfizer's recent unsuccessful efforts to buy British-based AstraZeneca to lower its taxes in a so-called tax inversion that would move its headquarters overseas.

The authors of the new report weren't able to determine how much profits the Fortune 500 booked specifically in Bermuda and the Caymans, but they cite Internal Revenue Service data that suggests U.S. companies are using subsidiaries located there to legally avoid taxes.

According to the IRS data, U.S. companies – not just the Fortune 500 -- collectively booked profits in Bermuda and the Caymans in 2010 that were more than 16 times the gross national product of the two countries combined.

That signals the earnings are actually earned elsewhere, said Dan Smith of U.S. PIRG, one of the authors of the report.

The problem is not new. A 2008 report by the nonpartisan Congressional Research Service found American multinationals attributed 43 percent of their overseas earnings to five tax havens – Bermuda, Ireland, Luxembourg, the Netherlands and Switzerland.

The U.S. government doesn't require disclosure of where profits are earned versus where they are booked.

"We should be able to know on a country-by-country basis where they are reporting their profits, where they are doing actual business and where they are paying taxes,'' Smith said.

Apple, which has three subsidiaries in tax havens, has $111.3 billion offshore. IBM, with 15 subsidiaries in tax havens, has $52.3 billion in foreign accounts. Citigroup, with 21 tax haven subsidiaries, holds $43.8 billion overseas, and PepsiCo, with 137 tax haven subsidiaries, has $34.1 billion offshore.

http://www.wgrz.com/story/news/2014/06/08/top-tax-havens-for-us-firms-report-finds/10199525/

Why would ANYONE outside of the few people making the deposits in the Islands be against reforming this bullshit?

[Akrazotile]

Yeah that's not necessary. What we should have is an overhaul of the tax code to make sure that the corporate welfare virtually every American covers (http://www.commondreams.org/views/2013/09/23/add-it-average-american-family-pays-6000-year-subsidies-big-business) stops ending up in the Cayman Islands or Bermuda. :lol


Why would ANYONE outside of the few people making the deposits in the Islands be against reforming this bullshit?

I absolutely agree. Im 100% for tax reform and shutting loopholes. For the top AND bottom.

This is one particular issue the GOP uses wedge issues to deflect its voters from paying attention to. I dont have any problem acknowledging it. I wish more people from both sides would call things what they are.

[97 bulls]

Can you actually name multiple examples of this happening?
2001Foster Wheeler Engineering Bermuda $559mill

2001Accenture Consulting Bermuda$28.6 billion (FY 2013)

2001Global Marine Engineering Cayman Islands Acq by Bridgehouse Capital in '04 2002 Noble Corp.Offshore Drilling Cayman Islands $4.2 billion

2002 Cooper Industries Electrical Products Bermuda Acq by Eaton in '12 2002 Nabor Industries Oil and Gas Bermuda $1.6 billion

2002 Weatherford International Oil and Gas Bermuda $15.2 billion

2002 Ingersoll-RandIndustrial Manufacturer Bermuda $12.3 billion

2002Price waterhouse Coopers Consulting Consulting Bermuda N/A 2002 Herbalife International Nutrition Cayman Islands $4.8 billion (sales)

2005 Luna Gold Corp Mining Canada $85.3 million

2007 Lincoln Gold Group Mining N/A 2007 Western Goldfields Mining N/A Acq by New Gold in '09 2007 Star Maritime Acquisition Grp Shipping N/A Now Star Bulk $69 million

2007 Argonaut Group Insurance Bermuda $1.4 billion

2007 Fluid Media Networks Music Distribution 2008 Tyco Electronics Industrial Manufacturer Switzerland Now TE Connectivity $3.4 billion (FY '13)

2008 Foster Wheeler Engineering Bermuda $3.3 billion

2008 Covidien Healthcare Ireland $10.2 billion

2008 Patch International Inc Oil and Gas Canada

2008 Arcade Acquisition Group Financial

2008 Energy Infrastructure Acquisition GroupEnergy


And why is this the corporation's fault and not the fault of the US government for creating an unappealing business environment?
Because the US has set standards. I see nothing wrong with that. If a business wants to operate on our soil, they should have to meet our expectations of work environment, safety, taxes, etc.


And these companies that set up shop overseas, can you prove that they are not paying taxes in the countries where they are supposedly operating? Remember, it's a global economy now. It's not the 1950s.
If they are or not is besides the point. We know they aren't making anywhere near the money they are by selling their goods and services over here.


And can you provide any sources that would show how much tax would be brought in from taxing these companies?
Don't see how this is remotely relevant. We know that they left to avoid paying taxes. But still want to do business out here. That's the problem.


My guess is sweet **** all. The money that it would take to manage a program to find these corporation will probably cost more than the money it brings in. The US shouldn't have the right to look into foreign companies profits and bank accounts. FATCA has been estimated to cost more money to operate than the amount of tax revenue it will supposedly bring in.
What?????


You're just spouting off liberal talking points you heard in a debate without doing any actual research. Nobody has ever provided numbers...just empty rhetoric.
I'm hardly doing such. I expect a response.

[bladefd]

By the way, supposedly there was no coverage on this Sanders speech by CBS, NBC, FOX, ABC, CNN all owned by a few massive corporations. Hilarious and bit scary at same time. These ba$tards only cover what they deem will profit them. I wonder how much of actual news gets 0 coverage. Thank-you internet for putting them in the light.

[97 bulls]

I absolutely agree. Im 100% for tax reform and shutting loopholes. For the top AND bottom.

This is one particular issue the GOP uses wedge issues to deflect its voters from paying attention to. I dont have any problem acknowledging it. I wish more people from both sides would call things what they are.
So why or what are you in disagreement of?

[NumberSix]

Bernie Sanders is a moron but he's the lesser of the three evils between Trump, Hillary and himself IMO.
Are you kidding? He's by far the worst. He's an enemy of freedom.

[Akrazotile]

So why or what are you in disagreement of?


You mean viz-a-viz Bernie and some of the posters in this thread?

Likely the specifics of reform, what's actually a loophole and what's just a reality of business, how the codes are changed, what we actually do to make it more fair etc.

[DonDadda59]

Are you kidding? He's by far the worst. He's an enemy of freedom.

I tried freedom fries a few years ago when I was in Philly.

Verdict:

http://2.bp.blogspot.com/-Q5QN20FFJfo/U_DumlfqgJI/AAAAAAAAXeA/saMfvAQITJ4/s1600/That's%2Bjust%2Bturrible%2Bturrible%2Bturrible%2Bt urrible.jpg

[warriorfan]

Did not read.

yeah, never read any posts from that guy :lol

[shlver]

Why does the average taxpayer pay an average of $870 a year in "special tax provisions" for corporations (AKA: corporate welfare)?

Read the highlighted portion of this post. Nothing like playing on the fears of right-wing nut jobs to get what you want.
Another example of excessive government spending. Most of it doesn't even go to the financial sector. Most of it goes to agriculture and the insurance industry.

Unlike direct farm aid payments, which are capped at $40,000 per farm, there is no limit on crop insurance subsidies. The names of those receiving payouts from the program are kept secret. There’s little chance the program will be restructured, since a permanent insurance mechanism spares politicians from approving ad-hoc farm bailouts that CRS says have cost taxpayers more than $50 billion since 2000.

The heavily-discounted insurance incentivizes farmers to cultivate marginal acres that may or may not be fertile. And the program’s been vulnerable to fraud, notably in North Carolina where a network of insurance agents, claims adjusters and farmers bilked the government of close to $100 million over more than a decade.

“The crop insurance program is terrible budget policy,” says William Frenzel, a 10-term Republican representative from Minnesota who served on the House Budget Committee and now analyzes fiscal issues at the Brookings Institution. “It’s the kind of congressional back-scratching that got us into our debt and deficit situation.”
http://www.bloomberg.com/news/articles/2013-09-09/farmers-boost-revenue-sowing-subsidies-for-crop-insurance
ACA anyone? Obamacare is just guaranteed gov subsidies to existing pool of insurance companies with barrier of entry in the form of government regulation. It has created a government supported oligopoly.

[97 bulls]

You mean viz-a-viz Bernie and some of the posters in this thread?

Likely the specifics of reform, what's actually a loophole and what's just a reality of business, how the codes are changed, what we actually do to make it more fair etc.
I still don't get it. Why are you defending a business laying off American workers, and going overseas to pay some 10 year old 20 cents an hour hard labor, but then take the items the 10 year old made and sale it here for hundreds of dollars? Why don't they sell their goods in the countries they have established themselves in?

For the record, I'm not against any business establishing itself in a certain country. I'm against them doing so to save money, then comming over here to make money. That's why I feel they should be taxed up the wazu.

[97 bulls]

Are you kidding? He's by far the worst. He's an enemy of freedom.
How is he the enemy of freedom???

[bladefd]

Here's the full speech: https://www.youtube.com/watch?v=eL0uV-qJvYM

[Akrazotile]

I still don't get it. Why are you defending a business laying off American workers, and going overseas to pay some 10 year old 20 cents an hour hard labor, but then take the items the 10 year old made and sale it here for hundreds of dollars? Why don't they sell their goods in the countries they have established themselves in?

For the record, I'm not against any business establishing itself in a certain country. I'm against them doing so to save money, then comming over here to make money. That's why I feel they should be taxed up the wazu.


Because economies evolve. It doesnt make sense for US to manufacture when there's billions of others in poverty around the world. They dont have the ability to run service industry businesses. We do. So they manufacture, we do service industry, and we trade with each other.

Thats why small european countries are successful. Lichtenstein is like a bunch of business people, and a relatively SMALL number of people working jobs at the airport, the restaurant, whatever. Those people have leverage in wages and benefits bc theres a balanced supply of workers.

32% of black men in Baltimore are unemployed. What are we supposed to do with them? Theyre not qualified for engineer jobs, leadership jobs, financial jobs, legal jobs etc. And theres only so many city jobs bc those are union and unions keep wages stacked which reduces job availability. There's only so many restaurant jobs. If wages were lower, businesses could hire more staff, and more people would have work and things would get done faster. But we've decided every employee has to make a certain amount. So this reduces job availability.

Our unskilled, uneducated (in terms of values and knowledge, not tuition paid) population is too high for the current economic climate. Thats the heart of it. Policy wont change that. We added 100+ MILLION people to our population in 50 years, and almost all of it came from lower income background which usually values education less. Right when we were transitioning to service. THAT HAS AN IMPACT. Thats why the wealthy gap is enormous. Take away the lowest 100 Million from the numbers and tell me how it looks.

Its about the labor supply-demand dynamics at the root. "System" is some garbage shit like a bunch of idiots in the basketball forum thinking it matters whether a team runs the princeton offense or the triangle. The issue is the fukking players. Its like 90% of it. Lets address that first, then lets talk systems.

[KyrieTheFuture]

Can you actually name multiple examples of this happening? And why is this the corporation's fault and not the fault of the US government for creating an unappealing business environment?

And these companies that set up shop overseas, can you prove that they are not paying taxes in the countries where they are supposedly operating? Remember, it's a global economy now. It's not the 1950s.

And can you provide any sources that would show how much tax would be brought in from taxing these companies? My guess is sweet **** all. The money that it would take to manage a program to find these corporation will probably cost more than the money it brings in. The US shouldn't have the right to look into foreign companies profits and bank accounts. FATCA has been estimated to cost more money to operate than the amount of tax revenue it will supposedly bring in.

You're just spouting off liberal talking points you heard in a debate without doing any actual research. Nobody has ever provided numbers...just empty rhetoric.
MAN you just straight up have no idea what you're talking about do you?

[Akrazotile]

Seriously, go look at the NBA forum. Every single fan whose team hasn't won a chip in the last 4 years thinks his team's coach sucks. No matter what.

Nobody wants to admit that the players they cheer for everynight just don't cut it. They like those players, they believe in those players, and if the players aren't succeeding... they must not be being used right. It's gotta be the system. Coach doesn't know what he's doing. Change the coach!

Look how many NBA fans who have absolutely no clue how basketball works can manage to blame the coach for everything. This is exactly what populist, class warfare candidates do. Blame the system. "The system is holding us back!"

Nah. We have a lot of idiots. And if a disproportionate percentage of those idiots come from sensitive minority backgrounds, SO WHAT. Call it what it is. Quandrelle from Detroit can't compete in an international economy. Are you crazy!? And that's... Donald Trump's fault? Ron Reagan's??

Our younger generations, and this includes a LOT of white kids, but percentage wise it's hugely black and hispanic, are just ridiculous shit shows. You don't wanna admit it, ok, fine. But your denial is actually prolonging the problem. Just prolonging it, prolonging it.

[97 bulls]

Because economies evolve. It doesnt make sense for US to manufacture when there's billions of others in poverty around the world. They dont have the ability to run service industry businesses. We do. So they manufacture, we do service industry, and we trade with each other.

Thats why small european countries are successful. Lichtenstein is like a bunch of business people, and a relatively SMALL number of people working jobs at the airport, the restaurant, whatever. Those people have leverage in wages and benefits bc theres a balanced supply of workers.

32% of black men in Baltimore are unemployed. What are we supposed to do with them? Theyre not qualified for engineer jobs, leadership jobs, financial jobs, legal jobs etc. And theres only so many city jobs bc those are union and unions keep wages stacked which reduces job availability. There's only so many restaurant jobs. If wages were lower, businesses could hire more staff, and more people would have work and things would get done faster. But we've decided every employee has to make a certain amount. So this reduces job availability.

Our unskilled, uneducated (in terms of values and knowledge, not tuition paid) population is too high for the current economic climate. Thats the heart of it. Policy wont change that. We added 100+ MILLION people to our population in 50 years, and almost all of it came from lower income background which usually values education less. Right when we were transitioning to service. THAT HAS AN IMPACT. Thats why the wealthy gap is enormous. Take away the lowest 100 Million from the numbers and tell me how it looks.

Its about the labor supply-demand dynamics at the root. "System" is some garbage shit like a bunch of idiots in the basketball forum thinking it matters whether a team runs the princeton offense or the triangle. The issue is the fukking players. Its like 90% of it. Lets address that first, then lets talk systems.
This is fine and dandy, but you still haven't addressed my point. WHAT ABOUT THE JOBS THAT HAVE LEFT???? AND WHY DO THESE COMPANIES SEE THE NEED TO STILL DO BUSINESS HERE IF THEY DON'T WANT TO SUPPORT THE ECONOMY? ?? ONLY TAKE FROM IT.

[Akrazotile]

This is fine and dandy, but you still haven't addressed my point. WHAT ABOUT THE JOBS THAT HAVE LEFT???? AND WHY DO THESE COMPANIES SEE THE NEED TO STILL DO BUSINESS HERE IF THEY DON'T WANT TO SUPPORT THE ECONOMY? ?? ONLY TAKE FROM IT.


I don't understand what you mean.

The people who put Apple products together are over in China, but the people who actually design the software and create the ad campaigns and do repairs and sign the paychecks are all still here. Apple employs a ton of people in the US.

The people who knit the Ralph Lauren sweaters are over in Bangladesh but the people who design them are still based here. The people who conduct market research for the company are still here.

If a company had nobody to employ in America, then they WOULDN'T be based here. But they are, because obviously, many aspects of the brands are handled by Americans. And usually the most lucrative. Just not the manufacturing. Do you think there are a bunch of American CEO's who don't have a single employee on our soil?

Countries that are best suited for manufacturing handle the manufacturing. Countries that are suited for service, do service. It's actually most efficient to do it that way. It's better for both countries. But like in any business, the number of people per position gets smaller as you go up the pay scale.

America is the weird exception. All the other countries with huge populations are much poorer. China, Brazil, Russia, Indonesia, India. We have a ton of rich people and great companies, but we could have handled the needs of this country without adding tens of millions of unskilled people. Some degree of population growth, skilled and unskilled, was fine, but we overdid it. We have too many people who have absolutely no skillset whatsoever, and a finite number of jobs for them. It was completely unnecessary to grow that much, and it is the primary cause of the current wealth gap. That's just what it is.

[Jailblazers7]

I'd support the ratings agency stuff but a lot of it is just weird, especially the atm fees and credit rates stuff. Is it really that hard to go to an atm for your bank or set-up an account that has no atm fees?

[NumberSix]

This is fine and dandy, but you still haven't addressed my point. WHAT ABOUT THE JOBS THAT HAVE LEFT???? AND WHY DO THESE COMPANIES SEE THE NEED TO STILL DO BUSINESS HERE IF THEY DON'T WANT TO SUPPORT THE ECONOMY? ?? ONLY TAKE FROM IT.
I would strongly prefer that American companies manufacture their products in America. Believe me. But I have no way of forcing them to share my opinion.

What we can do is make America a more beneficial place to do business in, but quite frankly, people like you seem to be militantly against doing that.

Too many are just unwilling to sacrifice their radical left wing ideology. They are so against the idea of corporations paying a low tax rate that they would rather just get nothing and let these corporations leave America and set up shop somewhere else. Also taking all the jobs it would create and the taxes the people with those jobs would pay.

[Akrazotile]

I would strongly prefer that American companies manufacture their products in America. Believe me. But I have no way of forcing them to share my opinion.

What we can do is make America a more beneficial place to do business in, but quite frankly, people like you seem to be militantly against doing that.

Too many are just unwilling to sacrifice their radical left wing ideology. They are so against the idea of corporations paying a low tax rate that they would rather just get nothing and let these corporations leave America and set up shop somewhere else. Also taking all the jobs it would create and the taxes the people with those jobs would pay.


It's all about the leverage. Even if corporate tax cuts were the best thing, overall, for the country as a whole going forward... if it's not gonna help an individual lib directly and immediately? **** it. RAISE those taxes, and gibs me some handout. Afterall, I was born. You owe me.

Libs only pretend to be unselfish. Actually, they're selfish.

[97 bulls]

I would strongly prefer that American companies manufacture their products in America. Believe me. But I have no way of forcing them to share my opinion.

What we can do is make America a more beneficial place to do business in, but quite frankly, people like you seem to be militantly against doing that.

Too many are just unwilling to sacrifice their radical left wing ideology. They are so against the idea of corporations paying a low tax rate that they would rather just get nothing and let these corporations leave America and set up shop somewhere else. Also taking all the jobs it would create and the taxes the people with those jobs would pay.
I'm not forcing or advocating forcing anything. Having a business in the US is a privilege not a right. You're acting as if these businesses are entitled to run a business here.

Again. Any company should be free to operate an manufacture their goods where ever. But it should not be with impunity. No one else is afforded this.

[bladefd]

I would strongly prefer that American companies manufacture their products in America. Believe me. But I have no way of forcing them to share my opinion.

What we can do is make America a more beneficial place to do business in, but quite frankly, people like you seem to be militantly against doing that.

Too many are just unwilling to sacrifice their radical left wing ideology. They are so against the idea of corporations paying a low tax rate that they would rather just get nothing and let these corporations leave America and set up shop somewhere else. Also taking all the jobs it would create and the taxes the people with those jobs would pay.

Fundamentally, why should corporations pay lower tax percentage than the rest of us?

Are you a business-owner or somebody in your family? Ask them where would they setup shop if they leave America? Ask if they think they would make more money in USA or Europe/Asia/Africa/South America/Central America/Australia.

The idea of competition is that you want to charge for product/service based on what your competition is charging for it. One example -- if you are a photographer and decide to charge $100/edited photo while your competition on average charges $25, you will lose all customers. When it comes to the big Pharma and large banks, its the exact opposite. They start at $100 in USA and since it's something essential, nobody can do anything to stop them. In other parts of the world, they know they cannot do that so they charge low in other countries from the beginning. How is that fair competition? If not out-of-control greed, what else is it?

[97 bulls]

I don't understand what you mean.

The people who put Apple products together are over in China, but the people who actually design the software and create the ad campaigns and do repairs and sign the paychecks are all still here. Apple employs a ton of people in the US.
This is backtracking. And the bold isn't true.


The people who knit the Ralph Lauren sweaters are over in Bangladesh but the people who design them are still based here. The people who conduct market research for the company are still here.
Without the product, Ralph Lauren is just a name.


If a company had nobody to employ in America, then they WOULDN'T be based here. But they are, because obviously, many aspects of the brands are handled by Americans. And usually the most lucrative. Just not the manufacturing. Do you think there are a bunch of American CEO's who don't have a single employee on our soil?
Come on bro. You know what I mean. And what's more, you asked me for MULTIPLE examples of businesses that have relocated and I gave them to you. As well as DonDada.


Countries that are best suited for manufacturing handle the manufacturing. Countries that are suited for service, do service. It's actually most efficient to do it that way. It's better for both countries. But like in any business, the number of people per position gets smaller as you go up the pay scale.

It's not that countries like India are better, they are CHEAPER!!!! Why is it that just about every call center is based in India or a country where English is not the predominant language? Is it better for the service of the customer to have to speak with a person with terrible to at best broken English?


America is the weird exception. All the other countries with huge populations are much poorer. China, Brazil, Russia, Indonesia, India. We have a ton of rich people and great companies, but we could have handled the needs of this country without adding tens of millions of unskilled people. Some degree of population growth, skilled and unskilled, was fine, but we overdid it. We have too many people who have absolutely no skillset whatsoever, and a finite number of jobs for them. It was completely unnecessary to grow that much, and it is the primary cause of the current wealth gap. That's just what it is.
Not everyone can be doctors, lawyer, engineers etc. Come on. Even if everyone was qualified in those fields, there's just no enough jobs.

[KyrieTheFuture]

I would support a corporate tax system that basically says, if you have X amount of your manufacturing in the US, then X amount of your income can be stored overseas. No one wants to actually tackle rewriting the tax code, so we might as well create incentives to keep manufacturing here. I'd rather have jobs go to the lower class than more money to the government, that just promotes more wasteful spending. The federal government is horribly inefficient in how it spends its money.

[97 bulls]

Fundamentally, why should corporations pay lower tax percentage than the rest of us?

Are you a business-owner or somebody in your family? Ask them where would they setup shop if they leave America? Ask if they think they would make more money in USA or Europe/Asia/Africa/South America/Central America/Australia. The idea of competition is that you want to charge for product/service based on what your competition is charging for it. If you are a photographer and decide to charge $100/edited photo while your competition on average charges $25, you will lose all customers. When it comes to the big Pharma and large banks, its the exact opposite.
Exactly. And the way our system is set up, they're covered on both ends.

[Hawker]

2001Foster Wheeler Engineering Bermuda $559mill

2001Accenture Consulting Bermuda$28.6 billion (FY 2013)

2001Global Marine Engineering Cayman Islands Acq by Bridgehouse Capital in '04 2002 Noble Corp.Offshore Drilling Cayman Islands $4.2 billion

2002 Cooper Industries Electrical Products Bermuda Acq by Eaton in '12 2002 Nabor Industries Oil and Gas Bermuda $1.6 billion

2002 Weatherford International Oil and Gas Bermuda $15.2 billion

2002 Ingersoll-RandIndustrial Manufacturer Bermuda $12.3 billion

2002Price waterhouse Coopers Consulting Consulting Bermuda N/A 2002 Herbalife International Nutrition Cayman Islands $4.8 billion (sales)

2005 Luna Gold Corp Mining Canada $85.3 million

2007 Lincoln Gold Group Mining N/A 2007 Western Goldfields Mining N/A Acq by New Gold in '09 2007 Star Maritime Acquisition Grp Shipping N/A Now Star Bulk $69 million

2007 Argonaut Group Insurance Bermuda $1.4 billion

2007 Fluid Media Networks Music Distribution 2008 Tyco Electronics Industrial Manufacturer Switzerland Now TE Connectivity $3.4 billion (FY '13)

2008 Foster Wheeler Engineering Bermuda $3.3 billion

2008 Covidien Healthcare Ireland $10.2 billion

2008 Patch International Inc Oil and Gas Canada

2008 Arcade Acquisition Group Financial

2008 Energy Infrastructure Acquisition GroupEnergy


Because the US has set standards. I see nothing wrong with that. If a business wants to operate on our soil, they should have to meet our expectations of work environment, safety, taxes, etc.


If they are or not is besides the point. We know they aren't making anywhere near the money they are by selling their goods and services over here.


Don't see how this is remotely relevant. We know that they left to avoid paying taxes. But still want to do business out here. That's the problem.


What?????


I'm hardly doing such. I expect a response.



I know that some of these are international companies that sell products and employ citizens from all over the world. Not just in the USA. Hardly good examples. They pay taxes all across the world like they are supposed to based on the income made in that country. If they perform business in a certain country, they still abide by all those regulations. They have subsidiaries around the entire world and each subsidiary would be subject to that nation's tax code. What makes you think they are exempt? Accenture, FosterWheeler, Ingersoll-Rand, Weatherford etc. all have offices in USA. All work performed in that country would be subject to that countries rules/regs. Also, you provided no source for this company list. Can't tell if those monetary values are made strictly in the USA or worldwide.

Weatherford does manufacturing in the USA.

It is absolutely not besides the point. You could be railing on about something that probably doesn't make a lick of a difference in terms of tax revenue and making it a fruitless effort. The FATCA mention is a perfect example of that. Look it up. Sorry if you're not informed about it...not my problem.

[Hawker]

MAN you just straight up have no idea what you're talking about do you?

Not really. I work internationally and probably have more knowledge than you do. Companies have subsidiaries that pay taxes to the country they operate in and pay taxes on the income earned in that country. I would bet some if not all of the companies he listed sell products in countries across the world so his logic that they should be based in USA because they sell products there doesn't make sense. That's why subsidiaries exist.

[Akrazotile]

Come on bro. You know what I mean. And what's more, you asked me for MULTIPLE examples of businesses that have relocated and I gave them to you. As well as DonDada.




I think that was someone else?

[Akrazotile]

I would support a corporate tax system that basically says, if you have X amount of your manufacturing in the US, then X amount of your income can be stored overseas. No one wants to actually tackle rewriting the tax code, so we might as well create incentives to keep manufacturing here. I'd rather have jobs go to the lower class than more money to the government, that just promotes more wasteful spending. The federal government is horribly inefficient in how it spends its money.

But dude.

If you set your manufacturing up here, you're going to have to pay American wages and benefits. This is going to raise up the cost of the product. And someone overseas will set up a company that makes the exact same thing, produced in Vietnam, and sell it cheaper here and around the world. Even if you tariff it, the marketplace is international now. He's gonna get the whole world's business and the American factories will go under. There has to be a reason for it to be specifically made in the US, and for most products there isn't.

People need to let this go. The economy has changed. I proposed a semi-solution to this, and predictably it wetted panties. We could set up a particular state in the union that is specifically for manufacturing. And that's where immigrants who wanted to come here would move to and work. The wages would be comparable to places around the world but they would get freedom of speech, religion, a stable government, certain food and housing benefits if they worked. It's better than what they're getting elsewhere. We could take immigrants, which we are already doing with far less efficiency, we could increase our economic output into the global market, and this would actually be BETTER than the alternatives these people have anywhere else, but this was "too offensive" for the wet panties crowd. They'll buy the products made by dirt poor ass immigrants as long as they're not dirt poor here in the US I guess. Helps them sleep better or something.

[97 bulls]

Not really. I work internationally and probably have more knowledge than you do. Companies have subsidiaries that pay taxes to the country they operate in and pay taxes on the income earned in that country. I would bet some if not all of the companies he listed sell products in countries across the world so his logic that they should be based in USA because they sell products there doesn't make sense. That's why subsidiaries exist.
I never said they didn't do business overseas. I never said they didn't have subsidiaries. I said they moved to avoid paying taxes and or save money by hiring cheap labor. I got my info from the Washington post. A credible source.

https://www.washingtonpost.com/news/wonk/wp/2014/08/06/these-are-the-companies-abandoning-the-u-s-to-dodge-taxes/

Perhaps you don't know what you're talking about.

[97 bulls]

I think that was someone else?
My apologies. It was Hawker that I sent that info to

[97 bulls]

But dude.

If you set your manufacturing up here, you're going to have to pay American wages and benefits. This is going to raise up the cost of the product. And someone overseas will set up a company that makes the exact same thing, produced in Vietnam, and sell it cheaper here and around the world. Even if you tariff it, the marketplace is international now. He's gonna get the whole world's business and the American factories will go under. There has to be a reason for it to be specifically made in the US, and for most products there isn't.

People need to let this go. The economy has changed. I proposed a semi-solution to this, and predictably it wetted panties. We could set up a particular state in the union that is specifically for manufacturing. And that's where immigrants who wanted to come here would move to and work. The wages would be comparable to places around the world but they would get freedom of speech, religion, a stable government, certain food and housing benefits if they worked. It's better than what they're getting elsewhere. We could take immigrants, which we are already doing with far less efficiency, we could increase our economic output into the global market, and this would actually be BETTER than the alternatives these people have anywhere else, but this was "too offensive" for the wet panties crowd. They'll buy the products made by dirt poor ass immigrants as long as they're not dirt poor here in the US I guess. Helps them sleep better or something.
How much would it cost to house, feed, provide medical, clothe, etc these people? You may as well pay them a fair US wage and be done with it.