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It's about the economy

October 28, 2012
Weirton Daily Times

To the Editor,

President Obama has championed the idea of deficient spending for job creation for four years. It works temporarily, but like a depressed consumer who goes on a weekend credit card spree to raise their spirits, in the long run it makes the economics worse.

Candidate Romney's plan to create job growth is to lower taxes across the board. He believes this frees up capitol and the entrepreneurial spirit that will then be invested in growing businesses who will need more workers. That is not an original idea. And in this case, one that will work because lowering taxes by a trillion and eliminating the deficit by another trillion, we lose the jobs that $2 trillion supports. That is a big chunk of change we have to overcome just to get back to the starting gate!

The real issue in job creation is not "funny money" or the "trickle down theory." Today it is about our trade deficits. The Freedman gospel of the indispensably economically interconnected flat world theory that causes temporary havoc to some economies until they adjust through education and retraining, obviously, in our case has fallen flat on its hyperinflated face.

Lower tax rates to zero and/or borrow another trillion a year from China to invest in job creation and all we do is continue to build China's economy because that is where the bulk of our consumer product comes from. The more we buy from China, the more we "stimulate" their economy and their job creation. If you want to "equalize the playing field" in golf, horse racing, trade or anything else, you handicap. In trade that is called tariffs. If you have a choice of a product manufactured here but cost more to produce yet grows our economy and a look-a-like but inferior product from China, you raise the cost of the inferior product that competes with the domestic through an import tax.

For those of you who will scream that will cause a trade war, you are right. That is the only war these days I favor because we have little to lose and a whole economy to gain.

Blaise Hogan


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