I don’t think Warren is the one to pull this off
A new policy from Elizabeth Warren announced on Twitter.
A lot of giant companies refer to themselves as “American.” But let’s face it, they only have one real loyalty: Their shareholders. A Warren administration will halt the hollowing out of American cities and create good American jobs. Here’s how. pic.twitter.com/pX0VpRXqqR
— Elizabeth Warren (@ewarren) August 25, 2019
I’m an economic patriot. I agree with her, more American companies should do more hiring and manufacturing in America.
So what is Warren going to do to encourage companies to do that?
Will she abolish the corporate income tax?
How about abolishing the NLRB?
Will she deregulate the healthcare industry to reduce the cost of insurance on employers?
One thought that I have had to encourage companies to hire in areas of the country that have suffered from a loss of jobs is to defer payroll taxes on employees hired in economically depressed areas. So if a company buys a shuttered factory in rural Indiana or Ohio or Michigan, a typical rust belt town, and puts locals back to work, they will not have to pay payroll tax on those employees for some period of years proportional to the level of economic depression of that area, i.e., the poorer it is, the longer they can defer payroll tax.
Will she invest in infrastructure, such as roads, to help economically depressed areas attract companies.
Will she reduce the burden of environmental regulations on manufacturing?
Will she make it easier to drill, mine, refine, and build?
Nope.
She endorses the Green New Deal. She wants to force companies to comply with more restrictive environmental regulations. She wants to mandate the use of more expensive 100% renewable energy sources. She wants to tax companies that make over $100 Million to pay for green energy subsidies. She wants to increase taxes for healthcare spending.
Pretty much every one of her economic proposals will make is more economically disadvantageous to manufacture and hire in the United States.
So without any carrots to encourage American companies to hire Americans, all she has is sticks.
So what we have here is a bunch of business destroying economic policies wrapped up in something that sounds good.
I agree with Warren that American companies should offshore less and hire Americans more.
I just don’t believe that a business hating, high tax, regulation loving, Left-wing Democrat is the person who can make that happen.