“….If foreign countries are allowed to have one-sided Trade Agreements, and if foreign companies can compete against American companies sans fair trade, and if American companies don’t care about the economic future of their own country, and if the executives of U.S. companies are unconcerned about the well-being of the American taxpayers who rescued them, and if American consumers fail to understand the value of “Buying American”, and if the two major parties in Congress allow all this to continue unabated…..then the United States is doomed. …“
H. Michael Hervey, Chairman, CP-USA
The Conservative Party (CP-USA) asks all Americans to help revive our economy by taking proactive steps to create and retain jobs in the United States.
No other political party or presidential candidate has officially adopted a common sense policy that encourages U.S. multi-national corporations to rethink their exclusive focus on quarterly profits and consider the economic health of the United States and their own long-term viability.
CP-USA firmly believes that legitimate profit motive is compatible with Economic Patriotism. Simply stated, Economic Patriotism is a policy that: Reduces regulatory and tax burdens on small businesses; Provides tax incentives to U.S. corporations to hire Americans to work in America; Encourages Boards and shareholders to recognize the value and profitability of keeping jobs in America; Educates the American public about the high cost of cheap imports and the long-term value of “Buying American” and; Imposes “Reciprocal” duties/tariffs on foreign imports to level the trade playing field .
Practicing Economic Patriotism is the only way America can survive in a global economy in which foreign countries are dedicated to eclipsing the Unites States. As the world’s sole beacon of true Democracy, human rights, free market capitalism and mutually beneficial fair trade, Americans must not allow that to happen.
When foreign countries negotiate trade deals with the U.S. they consider what’s good for their citizens, what’s good for their companies and what’s good for their economies (Nationalism). When Americans negotiate foreign trade deals, however, we only consider what’s good for a company, its shareholders and senior management. There is no consideration whatsoever for rank & file employees or how the U.S. economy and the America people will benefit. The only things GE, Intel, HP or Goldman-Sachs care about is the next Quarter’s profit and how much they can reduce labor costs by off-shoring jobs. If continued, these short-sighted policies will render Americans too poor to purchase the imported products manufactured by those American companies.
Foreign nations naturally care about their own economic future, the viability of their companies and well being of their citizens; they’re unconcerned about America’s future or world standing. Sadly, American corporations think the same way; they also don’t consider America’s future. GE earned billions in the U.S. market in 2010 yet worked overtime to avoid paying any income taxes. Although U.S. taxpayers rescued many American companies from financial collapse in 2009, many of those same companies now sequester hundreds of billions offshore to avoid taxes even during America’s budget/debt crisis. Unlike the post-WW II era when “Wall Street” supported American firms and helped make the U.S an economic superpower, “Wall Street” is disconnected from “Main Street” in every sense today. In short, there is no concept of Economic Patriotism.
If foreign countries are allowed to have one-sided Trade Agreements, and if foreign companies can compete against American companies sans fair trade, and if American companies don’t care about the economic future of their own country, and if the executives of U.S. companies are unconcerned about the well-being of the American taxpayers who rescued them, and if American consumers fail to understand the value of “Buying American”, and if the two major parties in Congress allow all this to continue unabated…..then the United States is doomed.
Think about this: The United States does not have a trade surplus with any nation on earth. That’s why America’s trade deficit jumped 38% in 2010 to $498B. Americans must realize that international trade is rigged against the United States due to state-subsidized industries and less-than-favorable duties/tariffs. International free trade is only “fair” trade when all countries play by the same rules. Congress should enact trade laws that Reciprocates (copies) all fees on imported products. Example: If Japan levies 18% taxes/duties/tariffs on American imports, the U.S. should “reciprocate” by imposing 18% on all Japanese imports. Reciprocity levels the playing field and will make foreign countries rethink their trade practices.
Congress must also recognize that burdensome union and environmental regulations hinder rapid economic recovery. The U.S. Business & Industry Council studied 111 U.S. based manufacturing companies from 1997-2009. It found that only nine of those 111 companies (8%) actually grew their domestic market share. American total production fell 64% and domestic market share eroded to 56%. Considering that 15% of all domestic production was by foreign companies based in the U.S., the picture is even more dismal. America is also becoming more dependent on foreign countries for critical products like high-performance microchips, specialty steels and rare earth metals. This economic reality is not solely a trade or jobs issue; it also imperils our national security.
Too many Americans wrongly believe in the “Innovation is the key to new jobs” myth. The ugly truth is that even when Americans do innovate and create hot new products or services (PC, iPad, Google, Tablets, Twitter, iPhone, Groupon, etc.), most of the manufacturing and customer service/technical support jobs go off-shore. While very important, innovation does not guarantee long-term job growth because corporations ship those jobs to China or India. Although U.S. companies demand that Americans get retrained, get more education, get more productive and take pay cuts, they have only one demand of foreign workers: show up for work.
Economic Patriotism is the only way to rectify the perils facing America today. Someone must speak for America and the Conservative Party stands ready. It’s time to “Come Home America”.