The U.S. slipped from #1 to #2 position in the World Economic Forum (WEF) Global Competitiveness Report for 2010. (Switzerland is #1). The U.S. fell as a result of the crisis in its financial markets
and weaker macroeconomic fundamentals.What can be done to make the U.S. more competitive, and create more U.S. jobs? What Do You Think?
How to fix trade now!
- We can not compete with low labor rate third words countries! No one can work hard enough to close the gap when the other workers are making 5%-10% of your wage and the third world country has cheaper taxes, no regulations, etc. This is why nations had tariffs for many years to protect their economy and standard of living. We must have a mechanism in place to level the playing field between high cost industrialized nations and low cost third world countries such as the system Warren Buffett suggested a few years ago.( Check it out on the internet) However we do it, we need to hurry or the huge trade/fiscal imbalances that we currently have will lead to disaster for the world.
- —Guest Robert Vogel
How to Fix it
- We need a flat National Sales Tax and a gradual regulation that will cause industry to produce goods in the United States for U.S. Citizens to buy. We produce quality. I would rather pay a little more and buy American.
- —Guest S.Coody
- America in 1970 began allowing a Federal Government to become dominant. That set the table for industries to diversify locations internationally. They never came back! 44% of american workers were employed by heavy industry and manufacturing . Today it's at 6% or lower.
The Federal Government and its Agencies are to blame. It is becoming even worse under this President who oversees the worst pull back in the US Economy ever, even worse than the 1929 depression in severity to the currency and the workforce.
- —Guest hedgemastermb
wrong picture in your page
- the picture wrongly shows the japanese yen, not the chinese yuan (renminbi) as expected. Answer from Kimberly: Sorry, I cannot find the picture you describe. I have looked and looked. :(
- —Guest tamanoshima
lets try something new
- I would suggest 3 things.First of all we have been brainwashed by the right into thinking if we tax the wealthy fairly we will lose more jobs.We have tried that for three years and found it to be false.When somethink is proven not to work you try something else thats what FDR did.So now lets tax the wealthy fairly and watch all the new small businesses spring up with alot more money in circulation.Second, lets lower the corporate tax to 25% to entice them to come home.3, lets initiate a "buy American"campaign and start it by letting no foreign cars will be permitted to park on government parking lots.The lots in Washington are now filled with them.Whatever happened to patriotism?
- —Guest Jon
Create Benefits To US Jobs
- Beyond tax breaks to corporations that move jobs back to the US, management pay should also benefit. With that bonuses and options to management should be at a tax free rate. However, the payout is at a 10 year rate (still paid out over the remaining time if retire, take another job, or die). This way the focus is on job creation in the US but more importantly a source of funds and and area of recourse if another debacle occurs.
- —Guest E Rothmann
Increase competitiveness & competition
- Still wage differences are wide between countries like china and india with USA. Overnight narrowing of wage differences are difficult. USA needs to identify araes where it still enjoys superiority over China and india. It is not necessarily to enjoy trade surplus with each and every country over all balance of payment should be the the prime consideration. Trade deficit with one country could be easily minimised by surplus with other countries. At the same time it is true that USA is loosing its competitive edge in almost every sector and specially in finance and banking. There is no shot cut solution to improve the competitiveness. So USA should redesign its competitive tools like education upgrading its human capital and efficiency of major business establishments. So far USA owns huge natural and mineral resources and as a democratic country it is not difficult for them the regain their competitive position. Still USA is in superior position compared to china and India and mo
- —Guest Syed Ejaz Ahsan
- Each and every soul living in America (US) are a piece of Junk, absolutely good for nothing people.
- —Guest chan
- Why would the young generation have to fix up what the old one cause. Stating with that why would the politician need more money then they already have? If we send at least 50% of the money going to them to help pur debt to china it what would be done in a matter of years.
- —Guest young_generation
- I did not expand on my article
I used Buffett 11% as example not outlining comparison
Buffett tax was listed s 17% of AGI.
11% of Total Income by me.
Corp use AIG to claim high tax rate.
Yet! They have so many deductions it makes rate look high.
Example--2008-Profit 1830B --Tax 230.1B for 12.6%. That is on Total Income not AIG
The AIG will be far lower since so many deductions and many pay no tax
If AIG is 1300B then 230.1
is an 18% Tax Rate not 12.6%
OECD analysis listed us as 3rd least taxed used tax paid as % of GDP. It is 1.5% of GDP the usual method of analysis in comparing nations, 2nd lowest on corp.
Wall Streeters will distort distort distort
- —Guest clarence swinney
- Fact check
cut tax-regulations bring jobs back.
Mfg own needs
Jobs out sourced for one reason—one.
Low labor costs—no overtime pay-- no health care-no pensions
Labor costs by far number one. Been there done that in largest
Regulations a nonsense—Just another ploy--
What regulations? On Apparel-Textiles-Steel—Plastics?
Make in America what we need. Wall Street $$$$$ will never allow it.
Ceos are paid on profit. America does not matter. No profit no job.
Jobs will not return. Gone. No one mentions our largest importer.
China has large groups on Wall Street selling the transfer of our jobs
Corp. Tax—WOW--Highest Tax Rate In Big Nations 35% Wow.
OECD report. American corporations rank 2nd in Least Taxed as percent of gdp.
Trend line since 1980 has corp tax on steady down line
2000-Profit-$1638.---Paid $249.9B in taxes=15.2%
2008-Profit-$1830B--Paid $230.1B in taxes=`12.6%
The Wall Streeters are known to distort(LIE)
Like Warren Buffet
- —Guest clarence swinney
Homemade energy is the answer
- We are within a decade of being able to produce abundant, clean, and very inexpensive energy in the US. This could bring $200B annually back home for job creation, etc. Moreover, technology will lead efficiency gains in energy production and storage akin to Moore's Law. This will lead to a low-inflation growth cycle like we experienced in the 1990's.
- —Guest John
An open door tariff
- It is not by coincidence that the tariff is at a historically low level and that unemployment is at a high level. We have lost control of our economic borders which is one of the primary functions of government. The solution is to enact an open door tariff on all nations(except OPEC) whose exports to us exceed our exports to them by 10%. The tariff would be 20% going up to 40% in a few years and would be exempt on all items below $25. We can talk all we want with the closed minds of the Chinese communists and get nowhere like we have done in the past but only by our actions can we get them to do anything. We need to pull the tariff trigger and start the race of getting more Americans back to work. Once the tariff is enacted there will be initial pain of higher prices but in time there will be a repatriation of jobs back to our country and more tax receipts. There will be less free trade anarchy(software piracy & currency manipulation) by a trade partner we really can't trust.
- —Guest Guest Norm
- Did Secretary of State Hillary Clinton ask the China to buy UNITED STATES Treasury? If this is true, does this mean that US is trying to manipulate (to increase its dollar value and lower the yen value) its dollar using China?
China has been buying UNITED STATES Treasury (loading UNITED STATES money) so the UNITED STATES government can pay for its workers and fund its projects.
When China buys UNITED STATES Treasury, the dollar value goes up relative to the Yen and its interest rate increases.
As Interest Rates rise in the United States, Capital Flows In to the UNITED STATES because the higher interest rates are an incentive for foreign capital. As capital flow in to the nation, the Demand for the Dollar Increases, as demand for the dollar increases, the Value of the Dollar Appreciates. When the dollar appreciates, goods made in the United States appear more costly to domestic and foreign consumers. Therefore, Imports Increase while Exports Decrease.
Look at their tarriff. none free trade
- I wanted to export some cars and watches, etc to China. There are too much tarriff on them. Couldn't do it... Free trade? Importing to USA is tax free. Currency theory is fooling many people and commerce department. Commerce department is either incompetent or ignoring the trade deficit, they should be fired.
- —Guest keepeyespeeled