There are two types of businesses in the United States: those that import foreign products and export American jobs, and those that manufacture or provide a service here in America.
Those businesses that earn their profits through importing goods, export more than jobs — they export American dollars. The majority of the products purchased from those businesses are also inferior to similar products made in America, requiring more frequent replacement and providing more money for export.
Much of that money is ultimately used by foreign investors who buy U.S. debt, bringing their nations an even larger cut of America, providing them with leverage.
Those businesses that earn their profits manufacturing and providing services here in America keep money and jobs in America.
The Republican Party would like to give each of those types of business equal tax benefits in spite of the vast difference in economic impact. In fact, Republicans have argued for years on behalf of those businesses responsible for the growing export of American jobs and wealth, citing unions and environmental regulations as the impetus and doing nothing to reverse the trend.
The legislation providing such tax benefits must be altered and thereby reverse the trend that threatens to cannibalize the nation.
Jamie Beaulieu, Farmington
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