EXOP - Office of Management and Budget

Income from taxing foreign imports

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Taxing imported products would bring in an excellent source of income for US coffers. Instead of making it easier for products to be made in foreign countries, make it beneficial for American companies to produce "Made in the USA" products once again. Outsourcing takes jobs and income away from US citizens and gives them to foreigners. All well and good as long as the products we import are being taxed at a rate that would provide revenue for us. No outside country should import their goods to this country without having to pay for that right. We need this income to assist in reducing our national debt. Perhaps US companies should be taxed for taking their product overseas instead of keeping their product "in-house" and thereby providing jobs for US citizens. Taxing foreign company imports and US companies who have taken their operations outside this country will provide a huge revenue for this country and possibly encourage US companies to begin rethinking their stategies. Providing incentives for US companies to make their products within this country's boundaries will serve a different purpose - it will create job opportunities for the next generation of youth coming into the lagging job market. If our country is to climb out of the hole it has dug itself into, our business thought processes need to change. Creating new taxes for the American public is NOT the way to go. Taxing outsourcing and imported goods IS!

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Idea No. 5610