With all the talk about global trade by both sides of the aisle, many articles have come out with actual facts. Amazing, facts!
Economist. 4/2/16. “Trade, at what price?” Plenty of data that supports global trade as good for America. The issue is the benefits are concentrated in those with more education and willing to move for a new job. The less fortunate will suffer dramatically if tariffs are imposed, their cost of living will rise 10-20% since they purchase more this material than those with more money. TAA has not made up the difference in wages for those that lose their jobs. manufacturing has been shedding jobs long before NAFTA, etal, due to global competition requiring more productivity.
National Review, 4/11/16. “The Truth about Trade.” Lots more data agreeing with the above article. What to do?
- US workers should receive the same tax benefit for training unrelated to their current job.
- SSDI requirements should be tightened so able-bodied adults are looking for and accepting work.
- Occupational reform should be a priority, especially at the state level.
- Federal job training programs should be consolidated-issue vouchers or block grants for states to experiment.
- Tax free savings accounts like Canada should be explored.
- Health care portability, and tax deductible at the individual level should be put in place.
- Reduce barriers to opening new businesses, regulations and costs.
Trade is good. Losing high labor, low value added work is how we have gotten richer for 200 years, stop stoking the fears of those who are affected!