Is retreating from the global economy the newer for US?
America’s economic woes are no secret. Nations like China are growing more and more economically powerful, while America is spiraling out of control. Losing an average of $600 billion dollars per year in trade deficits adds up, and the new low-wage economy neither brings in the needed tax dollars to run the country, nor gives citizens enough money to pay the bills. The more imports we buy, the more other nations prosper, and the more America falls deeper and deeper into third world status.
America’s Founding Fathers knew that foreign commerce was the key to a sustainable economy, but not by importing everything we need to live from producers overseas. A quick look at what they set up for a successful nation – and what we have given away – will show how Congress can easily fix the nation’s economic woes.
Retake control of the American economy The U.S. Constitution states that “Congress shall have Power. . . To regulate Commerce with foreign Nations,” yet America has given up this right,
Restore tariffs and reform taxes Every nation in the world has protective measures to ensure they take full advantage of product entering their countries. Again the US Constitution states: “The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises. . .”
By lowering income taxes and using a border-adjustable tax — the most successful tax in the world — American workers would not be punished for having jobs and foreign products entering the country could pay for the government through tariffs, as the Founding Fathers envisioned.
Stimulate the economy for job growth with the new influx of revenue With 80% of stores like Walmart’s wares coming from China alone, the revenue earned through tariffs and a value-added tax would be enough to not only rebuild America’s crumbling infrastructure, but also rebuild manufacturing as well. The Constitution also grants Congress power to establish roads and “promote the Progress of Science.” This is money that could go towards the innovation America needs to bring back real jobs in manufacturing, R&D and more.
Are these answers? We do not know. Yet every politician in the US now has to address the issues they raise.
