The tiny island nation of Japan provides many fine examples of what a country can do if it is not bogged down in futile wars and is intelligently governed. Taiwan, South Korea, Singapore, Malaysia and China have copied Japan’s model and have become extremely successful.
Tag Archives: Manufacturing
A task force in Detroit has called for immediately tearing down 10 percent of all buildings within city limits. The city of Detroit has hit it’s all time low and is almost completely unsustainable. This year alone in Wayne County, more than 56,000 properties have been foreclosed. An additional 75,000 are to be added to that list in 2015. We are talking about Detroit, the once great motor city, the manufacturing epicenter, the city that had the highest per capita income in the entire country. Now it is a city undergoing the nation’s largest bankruptcy trial, shutting off water to its residents and tearing down its’ own buildings. What happened?
For the past couple of months, the city of Detroit has been undergoing the nation’s largest bankruptcy trial in history. A date has been set for Judge Steven Rhodes to decide Detroit’s fate. On Nov. 7, we will witness either the rise of the motor city, or the ultimate end of it. The ruling will be either an up or down ruling. Judge Rhodes is not allowed to choose parts he likes and eliminate others. If approved, billions of dollars in debt would be wiped out and would give Detroit one more opportunity to get back on it’s feet. However, many are left with a puzzling question. Just how exactly did Detroit get to this rock bottom point?
Republicans, Democrats, Independents, and everyone else on the political party spectrum is coming to realize that we need a tax reform. Between 2001 and 2010, the United States lost one third of its manufacturing industry and the number gets bigger and bigger as years pass by. What needs to take place is a tax reform because our current tax system is completely outdated and riddled with loopholes. We have been seeing left and right that companies are changing their addresses, leaving our borders and moving their head quarters to foreign countries in order to cut their tax bills. According to former democratic Senator of South Carolina, Ernest Hollings, the reason why our economic situation hasn’t improved is because “President Obama fails to protect vital production in the U.S. and Congress does little to make it profitable for Corporate America to produce in America.”
For almost four decades the U.S. has had a trade deficit with foreign nations. The U.S. trade deficit has caused millions of Americans to lose their jobs, it has devastated our manufacturing sector, and destroyed the American dream. In 2012, the U.S. bought $741 billion more goods than it sold.