Donald Trump’s controversial campaign promise of building a wall on the American-Mexican border may have been signed off on but it’s a long way from happening.
The latest setback came when engineers estimated the cost of building the 2,000 mile long wall will cost an estimated $21 billion, that’s nearly 10 billion more than Mr Trump estimated.
Of course the Donald has a plan to fund the wall, he thinks he’ll make Mexico pay for it because being the President of the United States means you’re in charge of everywhere apparently.
Mexico have said they’ve got no intention of funding the wall either and the former President of Mexico Vicente Fox Quesada has reiterated his country won’t be stumping up for the racist monument.
— Vicente Fox Quesada (@VicenteFoxQue) February 11, 2017
I imagine Quesada has used Twitter because it’s the best way to reach the new POTUS.
Unfortunately for Mr Quesada it seems likely that Trump will be able to make them pay using a tax plan known as ‘border adjustment’ which will exempt exports from taxes while ramping up taxes on imports.
The plan is to put a 20 per cent tax on imports coming into the U.S. while making exports tax free.
According to the economist Martin Feldstein this border adjustment could raise hundreds of billions in tax revenue, potentially around$120 billion a year, or $1 trillion over a decade.
It’s reported that were the border adjustments put on Mexican imports then the United States would raise about $13 billion a year in revenue from Mexico via the border adjustment.
This means they’d be able to pay for the wall in just 2 years and Mexico can’t do anything to stop them.