Trade Disagreement
A Michigan congressman wants to repeal legislation that has been one of the few bright spots in the state's slumping economy over the last decade.
Rep. Bart Stupak, D-Menominee, has introduced legislation to overturn the North American Free Trade Agreement, according to The Flint Journal.
Research by James Hohman, a fiscal policy analyst, shows that Michigan exports about $45 billion worth of goods each year, a 44 percent increases since 1999. Michigan's two largest trading partners are Canada and Mexico, and only two states — Texas and California — export more to Mexico than Michigan.
"It' not perfect, but it's better than the system in place beforehand — a system with hurdles to the free and voluntary association of people and products," Mike LaFaive, director of the Morey Fiscal Policy Initiative, told The Journal.
LaFaive also explained why those who want to repeal NAFTA based on "trade deficits" are wrong.
"I have a trade deficit with Wal-Mart and it's been growing. How am I worse off?" LaFaive said. "I buy a lot of things from them, but Wal-Mart buys nothing from me. So what? It's an illusion that trade must always be in balance."
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Seriously...
What are the products were sending to Mexico? Who makes them and what do their workers get paid? You and I both know this surface data doesn't tell squat--yet it's a typical rhetorical device used at this site. It's very disingenuous.
hmm...
What are the products that we're shipping out? I don't think your data tells the entire story because there's a lot of data left out of it. For example, let's take Amway out the equation completely.
There. Now what do your numbers say?
We have paid NAFTA cost, don't stop now, but fix
Fix the Tax structure that has hindered us since President Reagan gave us free trade. We of USA has our federal taxes built into the price of product providing imports with a 22% advantage in sales. FairTax will balance that by lowering product cost and equally taxing imports and domestic production.
It is a no brainer. What is stopping it in Congress is the greed to keep the incumbent campaign fund tool alive and well, the IRS code. Reagan gave us a somewhat flattax and it has been amendment over 1,200 times since. Flat income tax plan is more of the same Nationalist empowerment that is killing the USA. FairTax will return the lobby system to it's pure form, lobbying on true principles, not greed.
Constitutional conduct and FairTax please.