The most realistic advice to President Obama and Congress to create jobs—the number one need in the present recession—has been offered by former long-time senator, Ernest Hollings of South Carolina, now retired.
Hollings served in the Senate for 39 years, after serving as governor of South Carolina. He is a Democrat but voted on the issues according to what he felt was best for the country, not on a party-line basis.
What he’s now proposing, as the surest, fastest way to create jobs and reduce huge deficits, is ending the flow of manufacturing and jobs abroad.
“More jobs are lost today from off-shoring rather than from the recession. Yet Washington does nothing about off-shoring because that’s what business leadership wants,” Hollings recently wrote.
He added: “Wall Street, the big banks and corporate America want to keep flowing these off-shored profits from China, India, Vietnam, etc.. They know they can make more profit off-shoring than they can domestically.”
Hollings says the media has failed to focus on the trade war, reminds Americans cheaper production offshore is the jobs problem. That problem must be addressed, to make production of goods in this country pricecompetitive.
As long as this is not addressed, globalization as we know it, and which is nothing more than a trade war with producers looking for the
cheapest country in which to produce its product, will continue to drain jobs and production from the United States.
Hollings suggests we eliminate the corporate income tax and gain more revenue with a 2 percent value added tax.
The value added tax, rebated, reduces the price of exports. Hollings also notes that enforcing terms of the War Production Act of 1950 would create millions of American jobs.
The problem with most of these remedies is that they’ll be opposed by corporate interests, since cheaper production offshore means increased profits. But the proposals Hollings suggests are in the interest of the working man, in creating millions of jobs.
If adopted, these proposals would produce jobs, improve the economy and could provide money to begin paying down the national debt.
Looking At Washington: Hollings’ Advice
Hollings served in the Senate for 39 years, after serving as governor of South Carolina. He is a Democrat but voted on the issues according to what he felt was best for the country, not on a party-line basis.
What he’s now proposing, as the surest, fastest way to create jobs and reduce huge deficits, is ending the flow of manufacturing and jobs abroad.
“More jobs are lost today from off-shoring rather than from the recession. Yet Washington does nothing about off-shoring because that’s what business leadership wants,” Hollings recently wrote.
He added: “Wall Street, the big banks and corporate America want to keep flowing these off-shored profits from China, India, Vietnam, etc.. They know they can make more profit off-shoring than they can domestically.”
Hollings says the media has failed to focus on the trade war, reminds Americans cheaper production offshore is the jobs problem. That problem must be addressed, to make production of goods in this country pricecompetitive.
As long as this is not addressed, globalization as we know it, and which is nothing more than a trade war with producers looking for the
cheapest country in which to produce its product, will continue to drain jobs and production from the United States.
Hollings suggests we eliminate the corporate income tax and gain more revenue with a 2 percent value added tax.
The value added tax, rebated, reduces the price of exports. Hollings also notes that enforcing terms of the War Production Act of 1950 would create millions of American jobs.
The problem with most of these remedies is that they’ll be opposed by corporate interests, since cheaper production offshore means increased profits. But the proposals Hollings suggests are in the interest of the working man, in creating millions of jobs.
If adopted, these proposals would produce jobs, improve the economy and could provide money to begin paying down the national debt.