Post by El Castor Post by islander Post by El Castor Post by islander Post by El Castor
Whatever the origin of Trump's advice, I can honestly say that I
endorse his policies of restoring sanity to our corporate tax system,
standing up to an increasingly aggressive China, and halting illegal
immigration. Whoever or Whatever Biden's advisors might be, I believe
he will most likely reverse all of those policies, and I find that
Lowering corporate taxes only succeeded in giving corporations a chance
to buy back their own stock, producing a bubble in the market. Very
little of the tax windfall went into jobs.
The US had the highest corporate tax rate in the world. Even European
socialism woke up to the insanity of excessive corporate taxation and
has been cutting those taxes for years. As for stock buy backs, the
importance of cutting our absurdly high rates stretches far beyond the
near term and will have an impact for many years to come. Here are
some discussions of the benefits.
I learned a long time ago to pay attention to the tense of verbs when
someone is trying to sell me something. As far as I am concerned, when
the speaker switches to future tense promises, I'm not buying it.
Post by El Castor Post by islander
All Trump has done with regard to China is to increase their influence
in the Pacific Rim. Trump's approach to most problems is to sew
disruption and then attempt to benefit from the wreckage. His fumbling
around in tariffs damaged a lot of US businesses and brought about the
need to bail out the mid-West farmers.
China obviously had a well planned strategy to replace American
economic dominance in the world. For instance, Chinese back door
subsidies were three years from putting the US out of the steel
business. It took a man like Trump to admit what was happening and do
something about it.
Yes, China has had a well planned strategy for economic growth. What
Trump (and most Republicans never understood) was that the invitation
that China extended to American corporations was a well planned strategy
to transfer technology to their country. You should pay attention to
who owns controlling interest when American corporations rush to build
joint ventures in China. Once again, American corporations plan for
short term gains while China is playing for the long term. This has
nothing to do with tariffs and I'm only amazed that Republicans seem to
have forgotten what you say you learned from your economics professor at
I completely agree that China is looking at the long term, and
obviously developing broad strategies to undermine American dominance
in manufacturing and technology. This doesn't make them evil, just
smart. It seems that electrical energy is one of the most important
cost components in steel manufacturing. The Chinese government owns
the country's electrical generation system. Trade agreements prohibit
government subsidies of steel exports, so the Chinese government sold
electrical power to steel plants at a price below the cost of
production, and was in the process of literally putting US steel
manufacturers out of business -- until they were discovered. That is
an example of a strategy that US corporations could not employ or
defend against, and why the federal government needed to get involved.
That is a form of dumping which has been used by high tech companies
both in Asia and the US for decades. Regarding steel, the US could have
subsidized upgrade of US companies after WWII to use modern technology,
but we chose not to. You can find the same mistake in many fields of
manufacturing. But, after the destruction of manufacturing in Asia and
Europe in WWII, they had no choice but to build new factories which they
invested in heavily. Putting aside for the moment Chairman Mao's failed
backyard furnaces, Asian companies prospered by attracting American
investment with low wages. American companies outsourced to Asia,
costing us leadership across the board in manufacturing, favoring short
term profitability at the cost of ignoring China's long term plans.
This happened first in Japan, then in Korea, then Indonesia, and now in
China. So, Trump thinks that he can solve these problems with tariffs
as he walks away from international agreements. This is a naive attempt
to address the symptoms rather than the cause. We have argued here
before about tariffs and you seem to have forgotten your understanding
of why tariffs are a bad idea. I'm surprised.
Post by El Castor Post by islander Post by El Castor Post by islander
On immigration, he has now gone to denying visas which have been the
source of manpower for the tech industry. And, whatever happened to the
plan for Mexico paying for the wall? Now, even Canada is preventing
immigration from the US.
In 2019 Trump promoted the idea of a path to citizenship for H1B visa
holders. The 2020 temporary H1B suspension was a response to COVID-19.
Tell that to Stephen Miller.
Hmmm. Sleepy Joe idiotically called Trump a Xenophobe when he halted
flights from China. This H1B thing is for the same good reasons. Makes
perfect sense. Do we really want or need to import room fulls of H1B
programmers in the midst of a COVID epidemic? There is this new
fangled thing called the Internet. Surely they can program just as
easily in New Delhi?
Shortly after I retired, a friend of mine in Silicon Valley was involved
in a project which used programmers in India, Israel, and the US to do
development around the clock, following the sun around the world. As
far as I know, it was successful, but required careful planning of the
roles of programmers in each time zone: design in the US, coding in
India, and testing in Israel. I thought that it was a creative way to
use the Internet.
But, as powerful as the Internet is, it cannot compete with the informal
social interactions that occur in high tech industries. This is why the
design of research centers include spaces that encourage informal
interaction. Here is a good description of how Google attempts to
balance local vs. remote work. https://www.entrepreneur.com/article/317582
What attracted me to the Bay area was that it was an enormous incubator.
My wife and I incorporated within a month of moving there. Need a
source of metal, there is Allen Steel. Need investors, there is Sand
Hill. Need a lawyer, there is Kleiner Perkins. Need an ion implanter,
there is probably someone with one in his garage. I enjoyed attending
the MIT entrepreneur mixer (held at Stanford) which was great for
meeting people with ideas. No one has been able to replicate Silicon
Valley anywhere in the US or the world and that is simply because it
attracts the best and the brightest from around the world.
Sorry, but I don't think that you can replace that with Zoom, as good as
But, not to worry. Canada is eager to import talent if we don't.