The recent debate among Republican candidates in Iowa was mind-boggling.
Most on stage raised a hand like school children and pledged "no new taxes." You cannot fund critical programs such as infrastructure repair or replacement, job creation, health programs, Social Security, Medicare, etc., with reduced tax revenue.
American companies have been complaining that they cannot find workers with the right skills for the jobs available. Instead of establishing training programs in conjunction with state and federal governments, they send the jobs overseas. Workers who don't have jobs lose their homes, cars and the purchasing power necessary to get the economy moving again.
The Republican answer to all of this is to lower taxes further and expect unemployed American workers to buy imported products. How's that for patriotism? It's a cycle with diminishing returns. When was the last time you bought a TV, DVD, computer, car, appliance, etc., made here? Even products made in the U.S. have many of the major components imported. The ultimate insult is that much of customer service is being outsourced to India, China and Taiwan. Have you ever tried to solve a technical problem with an "expert" whose accent is so thick you cannot understand the assistance?
Sign Up and Save
Get six months of free digital access to The Island Packet
Corporations know that to be successful in the long run (not just short-term) income (taxes) must be increased and spending decreased. Doesn't that make sense?
Philip W. Wolfe