House Committee holds hearing on U.S. manufacturing competitiveness
Posted by scapozzola on 06/04/2012
This past Friday, the House Energy and Commerce Subcommittee on Commerce, Manufacturing and Trade held a legislative hearing on the American Manufacturing Competitiveness Act, H.R. 5865. The bipartisan measure would require a public-private Board to develop a national manufacturing competitiveness strategy on a quadrennial basis.
H.R. 5865 is a revised version of the National Manufacturing Strategy Act, H.R. 1366, that passed the House by a vote of 379-38 during the 110th Congress.
A national poll by the Alliance for American Manufacturing (AAM) found that 78% of Americans support a national manufacturing strategy.
This post has 1 comment •
Add a comment
1 comment
Related recent Blogs
- Generally favorable manufacturing survey for New York state • by scapozzola • 06/18/2013
- President Obama talks about China on Charlie Rose. • by scapozzola • 06/18/2013
- Checking-in from manufacturing conferences in Wisconsin • by LDonia • 06/17/2013
- Make the right choice for your pet -- buy American-made • by TGarland • 06/17/2013
- A Discussion on the Obama-Xi Summit • by TGarland • 06/13/2013
- Chart of the Day: A tough three months for America's manufacturing sector • by LDonia • 06/13/2013
- Manufacturing employment will level off, says report • by mmcmullan • 06/12/2013
- The Relationship Between the U.S. and China • by TGarland • 06/12/2013
- Could U.S. tech manufacturing see a mini-rebound? • by LDonia • 06/11/2013
- The key to the success of the U.S. military: a strong U.S. industrial base • by TGarland • 06/11/2013
There is an easy solution to our negative trade balance
First of all, Congress under Article I, Section 8, Clause 3 of our Constitution has the responsibility to regulate our foreign trade, and any negative trade imbalance falls on their shoulders, to whit, Clause 3 states: "To regulate commerce with foreign nations, and among the several states,…"
This is #3 of their enumerated powers. See Click Here for the Constitution.
The one single thing that would make a major dent in our ability to compete in the world market would be to stop taxing our businesses - this would give them a huge reduction in their costs and bring a lot of foreign industry back to our country and make a huge increase in new manufacturing jobs and increase our middle class.
This is exactly what the National Retail Sales Tax would do as it would do away with all income taxes.
Businesses do not pay taxes anyway, they simply pass this cost of business along to the customer as part of their overall costs. When you remove the cost of taxes from the cost of goods and then add a national retail sales tax at the point of retail sales the net increase in the cost of the goods is very small, and better yet, no individuals will pay any taxes either as there will be no income taxes for anyone so you will get to keep all of what you earn and only pay federal taxes when you buy things. The IRS will be gone for all practical purposes - and good riddance.
Then if we would stop the unnecessary and stifling regulations imposed on business and go back to the original purpose of the above Clause 3 which was to regulate trade between the states in order to make trade, which was the buying, selling, and trading of goods, regular; that would be a huge and unnecessary burden lifted off the shoulders of our industry.
And finally, if we could have some meaningful tort reform and run all of the ambulance chasing lawyers off in to a ditch, and stop the frivolous and expensive law suits from those looking for some quick and undeserved money where there was no real harm done by those being sued; that would vault us back to the top of the world wide manufacturing where we belong!