News Summary for 06/19/2023
- Thread starter primus
- Start date
The system kissing China's ***. They don't want that Chinese gravy train to stop. That includes both parties. Biden, McConnell and many more should be the ones getting indicted.
Term limits on congress/senate, and making our representatives live by the laws they pass on us, is far past overdue.
I don't disagree; then we might be able to pass legislation to prevent manufacturing from leaving our country, or at least raise import taxes to the point where it makes more sense to manufacture things here. Our middle class is strongest when we have good manufacturing jobs, plus if we do go to war with China, we will be screwed here b/c they make all of our stuff.
Raising tarrif only transfers the cost to the consumer. I favor bringing our factories back to our land.
To prevent that from happening, we would need to increase taxes on corporate profits to the point where they were in the 1950's or 60's (and before). That prevented the massive profits that companies are experiencing right now. Corporate taxes are so low that there is no real incentive to re-invest in their companies (salaries, facilities, etc.) and they keep raising prices and are making record profits.
Through the 50's and 60's, coorporate taxes were high enough that companies raised salaries (normal for 1 salary to support a household back then) and they didn't raise prices to ungodly numbers, because people hate paying taxes. In the 1970's and 80's, tariffs began to be removed (hello Japanese automakers and electronics) and corporate taxes on profits also began to be removed. It has gotten worse nearly every year since, leading to the mess we are in now. We had pretty high tariffs for the vast majority of this country's history, and most countries of the developed world have pretty high tariffs.