14 May 2015
It is said that if you like law or sausage you shouldn’t watch either being made. We’re talking about negotiations in the U.S. Senate around the president’s trade promotion authority (TPA).
Democrats correctly see this as another NAFTA-type trade deal that will leave even more Americans jobless as investment dollars flow offshore to cheap labor and better tax rates. It with the fact of joblessness in America the Democrats insist on trade adjustment assistance (TAA), a program for helping displaced U.S. workers.
Politicians most certainly know how to complicate business.
I talked this week with a very wealthy man moves within a circle of friends who represent trillions of dollars in personal wealth, wealth they keep offshore to avoid the highest capital gains taxation in the world: the USA.
Capitalist prefer doing business in America, because we enjoy the rule of law that generally upholds contracts and ferrets out corruption. Corruption and arbitrary laws complicate overseas business investments, but a very low capital gains tax rate makes the risks worthwhile.
How close to home is this migration of capital to offshore factories? It’s as close as the Columbia Aluminum plant right here in Rockwall that has been transferring manufacturing equipment to Mexico where the company can make a decent return on investment dollars. It’s just common sense.
Free trade with nations on the Asian and African continents is not good for American workers, American taxpayers and American investors.
My trade proposition? Very simply lower capital gains tax to 0%, spelled out that’s zero percent. At least something close to zero. One trillion dollars await this change. Imagine a trillion dollars invested in American manufacturing.
We have a president with absolutely no business experience, no business training, communist parentage and he was mentored by communists. This is the man at the helm of this ship of state, the man crafting ‘trade deals’ with communists? What can go wrong.
Let’s, instead, tell Congress to dramatically lower capital gains tax to draw one trillion investment dollars back to our soil. National debt crushes the life out of our country. We can’t pay it off without productivity on OUR shores. Sending jobs overseas simply adds to our welfare roles and piles on more unsustainable debt.
As a parting reminder, Barack Obama is not our friend. He has not our best interests at heart. At best, he sees the USA as a ‘colonial power’ to be emasculated.
To avoid being mistaken for a sellout, I chose my friends carefully. The more politically active black students. The foreign students. The Chicanos. The Marxist professors and structural feminists and punk-rock performance poets. – Barack H. Obama, Dreams From My Father, Pages 99-101
God bless America.