According to him and his supporters, Mexico and China had simply taken too many jobs out of the US and it was time to bring them back. At the time, it sounded right. After all, what could be better than bringing back millions of jobs for Americans? However, in the few months that President Trump has been in office, the task seems to be more difficult than he had previously thought.
As a result, the President has now resulted in bullying some companies into keeping jobs locally while threatening others with tax restrictions if they continued to send jobs abroad. But it seems even this approach from the Commander in Chief is not working and aside from the 700 jobs that he helped to keep with United Technologies in Indianapolis during the first days of his administration, the rest has been nothing but tough talk and no action. So, why is it hard for Trump to make good of his campaign promise to keep jobs in the US?
Here are a number of reasons:
Lower Wages And Low Cost Of Doing Business
Well, let’s start by examining what is already an obvious fact. A migrant worker doing the same work as an American in the US earns an average of $3 an hour while their American counterpart will demand $25 an hour. From a business perspective it would make more sense to pay $3 an hour rather than $25 an hour for the same job.
Financial Strip-Mining In The US
Financial strip-mining is simply a strategy that is used by wealthy American Wall Street investors to keep a bigger share of the economic pie. Through stock manipulation, Wall Street investors have managed to strengthen their hold on different sectors, and as you can imagine, Wall Street cares only about profits. They don’t care about jobs or American working families.
Trump’s Wall Street Deregulation Policies
Trump came into power as the anti-establishment candidate, so there was hope that he would crack down on Wall Street and their influence on the US economy. But it seems like many before him, he has simply conformed. With the increasing deregulation of Wall Street, it is becoming more apparent that the 1% will remain in control.
Trump Is Not Aware Of Financial Strip-Mining
It is also possible that the President is not really aware of how strip-mining has penetrated the US economy in different sectors. Stock manipulation by Wall Street is at its highest at the moment and this can only mean two things. Trump is either condoning it or has no idea it’s happening.
Trump Has Appointed Only Wall Street
All appointees by Trump are all seasoned Wall Street Bankers and investors. The agenda of cracking down on the establishment was a fuss and not just that. Under Trump’s administration, Wall Street has gotten stronger. As mentioned earlier, the only thing Wall Street cares about is profit, and let’s face it, because of the current economic conditions in the US and the cost of doing business, bigger profits can be made elsewhere other than home.
Keeping jobs in the US will need much more than Trump’s speeches about jobs. Action must be taken.