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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (17078)2/10/2004 2:38:18 PM
From: Lizzie TudorRead Replies (1) of 306849
 
the problem with commentary like this guys on free trade is that it is another vacuum consensus and I'll bet even Roach and Tyson agree with the basic premise that free trade is good.

But, if you have years of overtaxation of labor such that labor is carrying a huge % of the tax burden and an erosion in corporate taxes followed by increased spending, as we have now, the notion of free trade following the "lowest cost provider" has dire consequences. Its tough to make a case that record deficits and a crashing dollar are good. If this mess were level, we would get a balanced budget from the increased profits coming in to the offshoring corps. Not this time. We're broke and we really can't get back on track without job growth imho.

I am an advocate of free trade (except when we take IP developed at universities and send it offshore, or use taxpayer dollars to fund offshore development). But not like this, what we have now is a fiscal management problem across many levels that needs to be mitigated before the white house tosses out all these pristine theories imho.

First off- fica needs to be taken off the workforces shoulders, lets see some legislation on that. Fica is a tax, either cut it off totally or redistribute it. Then trade is really "fair". Next renegotiate the Yuan, where are we on that one.
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