Tag Archives: World Trade Organization

Real Income Tax Reform Is Not About Inventing a Better Mouse Trap

The Border Adjustment Tax (BAT) proposed by Congress is intended to change how business income is taxed giving it features of a Value-Added-Tax (VAT), a cash-flow tax, and a consumption tax. The idea is to make the corporate income tax function as a quasi-VAT and less as an income tax on the earnings of U.S. producers. Clearly, violative of free trade principles affecting the U.S., the practice should be made the subject for U.S. trade re-negotiation, a challenge fully backed by the new Administration. This is a fair trade problem, not a problem about income taxation. The BAT “solution” makes for new problems. On several fronts, a BAT for the U.S. is likely to make matters worse. The driving force behind the BAT is the expectation that it will generate considerable tax revenue… Continue reading

Posted in Flat Tax, FreedomTax, News and Analysis, Tax Reform, Taxation, Uncategorized Tagged , , , , , , , , , , , , , |

Clinton Still Using Free Trade Rhetoric

Beijing kicked its trade offensive into high gear while Bill Clinton was in the White House, but looking the other way. And, while Hillary Clinton has been pushed into spinning some of her views during the current campaign, it does not seem that she has truly broken with the past to devise new policies to deal with the economic rivalries that have done so much damage to the U.S. economy and now jeopardizes national security as well. Continue reading

Posted in 2016 Presidential Campaign, News and Analysis, Trade & Economics Tagged , , , , , , , , , , |

The International Trade Commission and the Failure of U.S. Trade Policy

The WTO is a supranational agency established in 1995 to prevent nations from adopting trade policies that give their domestic industries an advantage over foreign rivals. It can declare national legislation “illegal,” if it harms foreign interests. Archives around the world are filled with treaties and other documents that no longer hold sway because they no longer describe reality or fit the needs of major powers. The WTO needs to go into that pile. Then American statesmen can go back to the “protectionist” policies of national development that from its founding built the U.S. into the powerhouse of the 20th century, so it can remain on top during the 21st. Continue reading

Posted in News and Analysis, Sovereignty, Trade & Economics, Uncategorized Tagged , , , , , |

Trump’s Foreign Policy Speech: Did he Jump into Bed With Putin?

Despite the media buildup for the speech, it’s clear that on the matter of the US-Russian relationship Trump doesn’t represent a real change from the policies of the Obama/Hillary administration. A contest between Hillary and The Donald means the Russians emerge as the winners—no matter who wins. Another Russian reset is in the cards, compounding the American weakness that Trump says he wants to do something about. Continue reading

Posted in 2016 Presidential Campaign, China, Europe, Foreign Policy, Israel, Middle East-North Africa, News and Analysis, Russia & Eurasia, Southeast Asia, Uncategorized Tagged , , , , , , , , , , , , , |

Conservatives Must Reverse National Decay – and Save the GOP from Self-Destruction

With national elections looming, all the structural factors favor a Republican wave that will shift control of the Senate and give the GOP majorities in both houses of Congress. Yet, the actual Senate contests in Alaska, Arkansas, Colorado, Georgia, Iowa, Kansas, Louisiana, New Hampshire, and North Carolina are considered too close to call. This implies that despite President Obama’s fall in public confidence as his economic and foreign policies have faltered; the Republicans have not presented voters with a strong case for putting them into power.

Continue reading

Posted in Immigration & Border Security, News and Analysis, Trade & Economics Tagged , , , , , , , , , , , , , |