| mrstickball said: If Obama really wanted to help the Steel industry, as well as any other industry, he should cut corporate taxes as well as payroll taxes to make them more competitive in the global marketplace. |
Which then creates a "Foot-in-the-door"-esqe hole that other companies will use to demand cuts (much akin to what we're seeing with the bailout money).
I wasn't suggesting that corporate + payroll taxes be cut just for steel. I am referring to America as a whole.
Back from the dead, I'm afraid.
SCREW GLOBALIZATION! It always works against the U.S., and I believe that's the plan. Ronald DICKHEAD Reagan was the asshole who started that shit, most assuredly to weaken the U.S., only a dimwitted idiot can't see that. I was there, I saw it happen in real-time, from the union busting to the repeal of the usury laws and trade tariffs, he fucked this country up!
I think it's time to start looking into closing MOST of the SEVEN HUNDRED foreign military bases as it's a COLOSSAL waste of money.
Trade war? I hope the EU enjoys the wonderfully wholesome food that China produces.
BRING IT ON FUCKERS!
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For reference, this is actually a lot more common in public works type projects than you would expect. There are usually some incentives (although often not outright requirements) to "buy American."
Advantages:
Creates more American jobs
Allows for a higher multiplier effect of the dollars spent within the states
Disadvantages:
Could result in major retaliation from other countries
Could end up making projects cost more than they normally would
This isn't exactly a unique phenomenon, this one just happened to get a lot of attention. Personally, I think they should probably get rid of it to avoid any kind of retaliation. At the very least they should restrict it to something pretty negligible.
I knew someone would bring up the Smoot-Hawley Tariff Act. For reference, U.S. imports and exports at that period in time were dismal compared to what they are now. The Smoot-Hawley tariff was a minor contributing factor to the Depression. Anyone who tells you that it "caused" the Depression has had way too much of the globalization Kool-Aid. Sure it didn't help, but its a clear manipulation of the facts to claim that it "caused" the Great Depression. Its just not true.
We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls. The only thing that really worried me was the ether. There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke
It is hard to shed anything but crocodile tears over White House speechwriter Patrick Buchanan's tragic analysis of the Nixon debacle. "It's like Sisyphus," he said. "We rolled the rock all the way up the mountain...and it rolled right back down on us...." Neither Sisyphus nor the commander of the Light Brigade nor Pat Buchanan had the time or any real inclination to question what they were doing...a martyr, to the bitter end, to a "flawed" cause and a narrow, atavistic concept of conservative politics that has done more damage to itself and the country in less than six years than its liberal enemies could have done in two or three decades. -Hunter S. Thompson
Whether people will admit to it or not, the underlying assumption of taking a protectionist stance is that there is only so many kinds of products that can be produced and having people in other countries make a product (essentially) takes a job away from someone locally. While this is (sort of) true in the short run, in the long run this simply isn't the case ...
We are actually at a fairly interesting point in history (fairly similar to the industrial revolution) where countless jobs that were unimaginable just a couple of years ago are being created to fulfill need people never knew they had before. An example of this is videogames, while they are a massive industry today few people would have ever predicted its existance 50 years ago.
A trade war between the US and the EU is the last thing we need during a global recession.
I men, unless i'm wrong. The "buy american" clause is only for the bailout money... right?
| akuma587 said: For reference, this is actually a lot more common in public works type projects than you would expect. There are usually some incentives (although often not outright requirements) to "buy American." Advantages: Creates more American jobs Allows for a higher multiplier effect of the dollars spent within the states Disadvantages: Could result in major retaliation from other countries Could end up making projects cost more than they normally would This isn't exactly a unique phenomenon, this one just happened to get a lot of attention. Personally, I think they should probably get rid of it to avoid any kind of retaliation. At the very least they should restrict it to something pretty negligible. I knew someone would bring up the Smoot-Hawley Tariff Act. For reference, U.S. imports and exports at that period in time were dismal compared to what they are now. The Smoot-Hawley tariff was a minor contributing factor to the Depression. Anyone who tells you that it "caused" the Depression has had way too much of the globalization Kool-Aid. Sure it didn't help, but its a clear manipulation of the facts to claim that it "caused" the Great Depression. Its just not true. |
You're missing the general arguement those economic historians make.
It's not that we lost about 3.5% of our GNP.
It's that the tariff act caused the stock market to crash.
| NinjaguyDan said: SCREW GLOBALIZATION! It always works against the U.S., and I believe that's the plan. Ronald DICKHEAD Reagan was the asshole who started that shit, most assuredly to weaken the U.S., only a dimwitted idiot can't see that. I was there, I saw it happen in real-time, from the union busting to the repeal of the usury laws and trade tariffs, he fucked this country up! I think it's time to start looking into closing MOST of the SEVEN HUNDRED foreign military bases as it's a COLOSSAL waste of money. Trade war? I hope the EU enjoys the wonderfully wholesome food that China produces. BRING IT ON FUCKERS! |
ROFL!!
I don't know why, but I Lol'd so much when reading that. ^^
| Kasz216 said: I men, unless i'm wrong. The "buy american" clause is only for the bailout money... right? |
Yes, the provision pertains only to the $825 billion "stimulus" bill: “None of the funds appropriated or otherwise made available by this Act may be used for a project for the construction, alteration, maintenance, or repair of a public building or public work unless all of the iron and steel used in the project is produced in the US.” (Sec. 1110(a))
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