Border Adjustability Tax News Today : Breaking News, Live Updates & Top Stories | Vimarsana

To change washington, d.c. what a lot of people say on capitol hill is that washington was here before you even will be here after you. changing a city and its ways and entrenched political class is a lofty goal, but it is just that, a goal. i don't think the city is ready to completely change, 535 members of congress and one president. that is important to keep in mind when someone says they're going to change the way the city works. >> jon: he also come you say, spoke like a practiced politician. this was kind of a new donald trump. >> it was. he did not get too far into specifics, but he di...

Know. i want to talk about something different, that's the border adjustability tax. with the manufacturers at the white house today, states like michigan, wisconsin, others have a great concern about this tax. there seems to be a disconnect between some ceos, some republicans on capitol hill and the president as to whether or not this is appropriate. i guess the question is, could this tax have a chilling affect on manufacturing at times when places like ohio, the upper midwest are trying to jump start the economy with manufacturing jobs? i wish for you to clarify, if you could, the president...

To deduct it. it's a tax paid by corporations when they pay their 20% corporate tax. very simple. the simplicity is really the key to the success. and so no. a v.a.t. is not something we would support. the european countries, canada, they've -- gsts, but no. that's not the logical conclusion. this is a one and done with a border adjustability tax. >> how will a manufacturing company of sorts react to this? so, is it -- do you think the ultimate response will be, let's say take a company like apple, that any -- they'll then make -- they'll make apple products in mexico to sell in mexico to avoi...

U.s., well, then we'll have to respond in kind. i don't believe that's going to happen. i don't believe that w.t.o., the world trade organization, would declare our border adjustability tax an unfair tax. this is something we would have to wait and see. but these other countries depend on the u.s. consumers. we are 25% of the world's economy. they would have to entritread carefully and decide where to pick their fights. we're just leveling the playing field. >> you bought up the v.a.t. tax. that's sometimes repetitive because of the "t" there. is that where we're headed? >> no. >> is that the ...

Mucho sad. you know his sense of humor. where are you on this? >> chuck, part and parcel of reducing corporate tax rates to 20%, three individual rates significantly lower taxes means tremendous growth in the u.s. with business. more jobs, and the fundamental pay for is a border adjustability tax. if corporate taxes are 20% and to simply put it, if companies can no longer deduct the cost of goods not made in america. so the cost of goods made anywhere but america, they cannot deduct as an expense. that in effect is a 20% surcharge, tariff, tax, on anything not made in america. and that is the ...