Another example of how ancient King Solomon proverbs written 3000 years ago are being affirmed as a result of the new Tax Bill approved by Congress.
The Chicago Tribune article titled, ATT giving $1000 bonus to every employee thanks to Trump tax plan passage.
It is by justice that a king makes a country stable, but one who levies taxes makes a ruin of it. (Proverb 29:4).
The tithe of grandees produces an abundance of food, but it is swept away for lack of equity. (Proverb 13:23)
In a previous post, I explained how these above proverbs relate in a similar manner of the reason why Henry Ford increased pay to his employees, so they could afford to buy Fords made by his employees in the USA.
In other words, the increased wage money was used as an incentive to purchase, increase production, and share in the equity of their company.
If interested, read how HERE
Even though ATT action of giving bonuses, or sharing equity with their employees, the present problem in the USA is that if they use the money to buy manufactured products, the likelihood of the products will not be American manufactured.
In other words, the bonuses might likely result in larger trade deficits or unbalanced trade in the USA.
In My Opinion
The next logical step of the Trump administration should be to step up to complete the renegotiated fair and equitable NAFTA and China trade imbalances agreements to return manufacturing to the USA that was decimated by outsourcing industries over the past thirty years.
Regardless, the fact that ATT decided to give out the bonuses is an affirmation, and/or another example of the wisdom of King Solomon’s proverb written 3000 years ago to explain why unfair or unjust taxation can ruin a nation.
Regards and goodwill blogging.