Donald Trump: 35% Tax on Companies That Leave US

Latest Twitter stream goes after businesses who ship jobs overseas
By Polly Davis Doig,  Newser Staff
Posted Dec 4, 2016 9:51 AM CST
In this Dec. 1, 2016 file photo, President-elect Donald Trump speaks during a "USA Thank You" tour event in Cincinnati.   (AP Photo/Evan Vucci, File)

(Newser) – After railing against his comedic portrayal on Saturday Night, Donald Trump on Sunday morning turned his Twitter account on corporate tax dodgers, announcing that while he intended to push for a lower overall corporate tax rate, "any business that leaves our country for another country, fires its employees, [or] builds a new factory or plant in the other country, and ... sell[s] its product back into the U.S." would face a sizable 35% tariff, reports the New York Times. That's equal to the current corporate tax rate, which Trump has said that he wants to lower to 15%, reports CNN Money, which notes that many economists are concerned that protectionist policies could harm the economy. Trump continued: "Please be forewarned prior to making a very expensive mistake! THE UNITED STATES IS OPEN FOR BUSINESS." (Read more Donald Trump stories.)

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