From the article: The U.S. Trade Deficit
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?
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
US,US,US,US!!!!!!!!!!
- Each and every soul living in America (US) are a piece of Junk, absolutely good for nothing people.
- —Guest chan
Debt
- 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
demand
- 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 = lie
- —Guest clarence swinney
Demand
- 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 in America. 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. Canada. 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
dollar/yen manipulattion
- 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.
- —five_david
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
GREAT IDEAS!!
- Many Great Ideas herein.. I especially have to agree with the China being communists that the American Govt. caters to for all the wrong reasons. Check our history with Communism and it seems we are all fools for now accepting what the Chinese govt.doing to us and to its own people. The C govt. is practicing existentialism very well. We need to do something similar only we will do it democratically and not be cockroaches to anybody but other cockroaches- America needs to take a stand and quit looking for a quick fix that saves the day with minimal effort. We need to not be concerned or put off if a good plan is criticized by 'some' sympathizer of the other poeple- Forget these network moutpieces or out of work lawyer or journalists looking to boast TV ratings. It is some news and TV feed poisoning your minds and twisting the story to create Drama that sells imported Kia's. What America needs is a solution that we can all unite on and execute with or without popularity of the U.N.
- —Guest liberallyconservative
Starts with Government
- In this economy, many politicians believe that there is one solution in lowering unemployment. Untrue. There has to be many things done. One of the first things need to be to cut taxes and regulations so these companies can start coming back to the US and start making more jobs. We need to cut income tax, so that more people will be motivated to make more small businesses and besides, it is ridiculous for hardworking Americans to be taxed on their hard work. It'll start trickling down.
- —Guest dv220s
math lesson
- Want to cut costs and be more competitive? Let's do some math. Suppose an averge US manufacturing operator makes $30K a year, and an average do-nothing executive makes $300k a year. If we fire the do-nothing executive, we cut the overhead down, and save 10 operators' jobs at the same time! How hard was that?
- —americansrise
make jobs outsourcing illegal
- Jobs outsourcing "to become globally competitive" is a load of crap. here's the proof. Has anything gone down in price since NAFTA? No. You pay more now than ever, only now you're paying for foreign junk.So, where did the extra money from exploiting cheap foreign labor go? Right into the pockets of the fat cat corporate executives, and their politician buddies, to make them a little richer, as if they weren't rich enough already.It's illegal to hire undocumented aliens here in the US; people do it to exploit cheap labor. It should be just as illegal when corporations, for the exact same motivation, take the operation to where the cheap labor is, and then sell it here in the US without paying any tariff.
- —americansrise
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