Corporate America whines and snivels that the economy is not growing and that the government should do something about it, that the American consumer doesn’t have the money to buy their products. Yet corporate America continues to ship jobs overseas.
The Smoot-Hawley Act of 1930 put tariffs on products that were imported from foreign countries and has been blamed for prolonging the Great Depression and causing it to be more severe.
The Bureau of Consumer Protection defines “Made in America” as “all or virtually all” of a product and its parts must be produced in America.
Now we need to define corporate America by the same standard as products “Made in America.” That is, all or virtually all of its parts must be in America. If we do that then we should be able to tax them at a (lower) different rate than those who do not meet this standard. Thus corporations, whether foreign or domestic, that produce American goods in America get a better tax rate and American workers have more jobs.
The American people must shop for and buy “Made in America” products to keep their jobs and to expand the American work force.
Economists, what do you think?