Our political leaders are busy passing failed trade policies and creating worse ones while our greatest companies are leaving our borders and moving their headquarters elsewhere in order to evade our high corporate tax. Unfortunately, the United States has one of the highest corporate tax rates in the world, causing many of our corporations to consider leaving U.S. territory to cut their tax bill. It has recently been a hot topic as many companies look into it, if not done so already.
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Economists want to spend money on our broken infrastructure. In fact, in the latest survey asking leading economists across the nation if they would increase spending on fixing our infrastructure, all 44 agreed. A report by the American Road and Transportation Builders Association estimated that roughly 1 in 10 U.S. bridges, more than 63,000, are in urgent need of repair. Last year, in its annual report card, The American Society of Civil Engineers gave the nation’s infrastructure a D+ grade. The study also estimated the U.S. would need $3.6 trillion in investment by 2020 to deal with its infrastructure problems. But just where would we get this money from?
The World Trade Organization is a self serving and undemocratic organization that operates outside of our nation’s control. The U.S. Constitution states that all treaties made under the authority of the United States become supreme law of the land (Article VI). When our government signed the WTO treaty our government effectively weakened our sovereignty.
The average income for the bottom 90% of Americans is just $31,244. Over several decades now wages have staggered and shrunk. While many are pushing for a minimum wage increase to fix this wage inequality in our country, the real solution is to fix our economy through sound trade policies.
The North American Free Trade Agreement (NAFTA) was implemented in 1994, two decades ago, under the guise of “free trade” – an agreement whose purpose was to remove trade barriers between Mexico, Canada and the United States. The result was nothing short of a disaster for the United States.