{"id":8346,"date":"2024-09-18T12:23:46","date_gmt":"2024-09-18T12:23:46","guid":{"rendered":"https:\/\/kohajone.press\/?p=8346"},"modified":"2024-09-18T12:23:49","modified_gmt":"2024-09-18T12:23:49","slug":"trump-rips-critics-of-his-tariff-plan-says-itll-save-american-autoworkers","status":"publish","type":"post","link":"https:\/\/kohajone.press\/?p=8346","title":{"rendered":"Trump Rips Critics Of His Tariff Plan, Says It\u2019ll Save American Autoworkers"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/conservativebrief.com\/wp-content\/uploads\/2024\/06\/Trump-10.jpg.webp\" alt=\"\"\/><figcaption class=\"wp-element-caption\">&nbsp;Getty Images<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Former President Donald Trump hit back at critics of his tariffs proposal during an interview with a Las Vegas-based local outlet on Monday, explaining why they are necessary and how they will help grow the U.S. economy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cUnder Biden-Harris or Harris-Biden, however you wanna figure it, we\u2019re losing $2 trillion a year. With the tariffs, we can get that number down to a very manageable number, even, ultimately, we can break it even,\u201d Trump told KTNV-TV.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAnd it\u2019s gonna generate tremendous growth because, rather than paying the tariffs, there is no tariff if you build your plant in the United States, like the autoworkers. The autoworkers are gonna be out of business. We\u2018re not gonna have any autoworkers anymore, it\u2019s gonna all go through China and other countries, including Mexico, by the way,\u201d he continued.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He noted further:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>And we charge tariffs, we put tariffs on those cars, they\u2019re not gonna be able to sell them and therefore they\u2019re wasting their time in building the plant. But we will say, \u2018Build the plant over here. If you build that plant over here, there\u2019s no tariff.\u2019 And they\u2019re gonna end up building the plants over here. We\u2019re gonna bring back the autoworkers, were gonna bring back business, we\u2019re gonna bring back manufacturing. And we were doing it, and then when we got hit with the COVID, we had to focus on the COVID. But we were just starting to do it. We had everything fixed. We made the USMCA deal, which people love, one of the best trade deals we ever made. But we\u2019re gonna be doing it and we\u2019re gonna bring back manufacturing and a big part of that is gonna be the automobile manufacturing.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">WATCH:<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">President Trump: If you ship American jobs overseas, you will pay a tariff.<br><br>If you build your plant in America, you will not pay a tariff.<br><br>Make American manufacturing great again! <a href=\"https:\/\/t.co\/UXzxzKy8e7\">pic.twitter.com\/UXzxzKy8e7<\/a><\/p>&mdash; Trump War Room (@TrumpWarRoom) <a href=\"https:\/\/twitter.com\/TrumpWarRoom\/status\/1835101810014441839?ref_src=twsrc%5Etfw\">September 14, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, Vice President Kamala Harris\u2019 tax and economic plans are being panned by the left and right as unworkable, counterproductive, and ultimately bad for the country.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Harris plans to amplify the standard tax deduction for small business startup expenses by tenfold as a key component of her comprehensive economic strategy should she win the White House this November.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The plan involves increasing the standard tax deduction for&nbsp;<a href=\"https:\/\/www.foxbusiness.com\/category\/small-business\" target=\"_blank\" rel=\"noreferrer noopener\">small business<\/a>&nbsp;startup costs from the current level of $5,000 to $50,000, which Harris touted in a recent speech as \u201cessentially a tax cut for starting a small business.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At first glance, the proposal appears reasonable. A recent Tax Foundation analysis projects that the change would decrease revenue by approximately $24.5 billion over the next ten years and has the potential to stimulate some economic growth, Fox Business&nbsp;<a href=\"https:\/\/www.foxbusiness.com\/politics\/policy-group-says-harris-small-business-break-gets-drowned-out-other-higher-taxes\" target=\"_blank\" rel=\"noreferrer noopener\">noted<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, Harris\u2019 other proposals within her \u201cOpportunity Agenda\u201d are anticipated to negate any potential growth that might result from the increased small business tax deduction, the outlet said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cOn its own, the proposal would likely have a very small but positive effect on the economy overall,\u201d Erica York, senior economist at the Tax Foundation, told&nbsp;Fox Business. \u201cUnfortunately, it\u2019s proposed in the context of a plan to impose significantly higher marginal tax rate on saving and investment, which would swamp any small improvements to the startup deduction.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Tax Foundation\u2019s&nbsp; report indicates that Harris\u2019s overall agenda, which includes raising top tax rates to some of the highest levels in the developed world, would likely cause more economic harm than benefit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Harris has proposed increasing the corporate tax rate to 28% from the current 21%, a shift from her earlier position during her brief 2020 presidential campaign, when she advocated for a 35% corporate tax rate.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Tax Foundation\u2019s analysis estimates that Harris\u2019s comprehensive plan would increase taxes by $4.1 trillion from 2025 to 2034. It predicts a 2% reduction in long-term GDP, a 1.2% decrease in wages, and the potential loss of 786,000 jobs over that period.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe economic harm from Harris\u2019s tax hikes would also greatly reduce the ability to address an emerging debt crisis,\u201d the report reads.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n<div class=\"684f6003e199ca137b09540a661b4c2d\" data-index=\"2\" style=\"float: none; margin:0px 0 0px 0; text-align:center;\">\n<!-- Composite Start -->\r\n<div id=\"M940464ScriptRootC1583286\">\r\n<\/div>\r\n<script src=\"https:\/\/jsc.adskeeper.com\/k\/o\/kohajone.press.1583286.js\" async>\r\n<\/script>\r\n<!-- Composite End -->\r\n\n<\/div>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Former President Donald Trump hit back at critics of his tariffs proposal during an interview with a Las Vegas-based local outlet on Monday, explaining why they are&#8230; <\/p>\n","protected":false},"author":1,"featured_media":8347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/kohajone.press\/index.php?rest_route=\/wp\/v2\/posts\/8346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kohajone.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kohajone.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kohajone.press\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kohajone.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8346"}],"version-history":[{"count":1,"href":"https:\/\/kohajone.press\/index.php?rest_route=\/wp\/v2\/posts\/8346\/revisions"}],"predecessor-version":[{"id":8348,"href":"https:\/\/kohajone.press\/index.php?rest_route=\/wp\/v2\/posts\/8346\/revisions\/8348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kohajone.press\/index.php?rest_route=\/wp\/v2\/media\/8347"}],"wp:attachment":[{"href":"https:\/\/kohajone.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kohajone.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kohajone.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}