jobs in the United States
ERNEST F. HOLLINGS, former U. S. senator
2010 -- The President and Congress continue their charade of creating
jobs so it's time we list those opposed to creating jobs in the United
business leadership that customarily sets economic policy is against
U. S. jobs. After years of trying to get the government to protect its
investment and production, Corporate America off-shored its production
mostly to China to meet the competition in the trade war. China provides
the building and labor. If you make a profit, there is no corporate
income tax unless repatriated. You can reinvest in China for more profit.
If the first investment doesn't work out, Corporate America walks away
with no legacy costs. With no labor problems and bigger profits in China,
Corporate America is against jobs in the U. S. to keep its China profits
flowing to keep its stock up.
big banks, the financial houses, Wall Street want to keep the China
profits flowing so they oppose the government competing in the trade
war to create jobs.
Obama is against U. S. jobs. Globalization is nothing more than a trade
war with production looking for a cheaper country to produce. In this
war it is not company versus company, but country versus country, government
versus government. The President of our government is charged with protecting
the economy and enforcing our trade laws. The President refuses when
General Motors is endangered and waits for it to go bankrupt; he refuses
when we don't have helicopters for Afghanistan and have to go begging
to Russia; he refuses to impose import quotas when vital production
like communications is no longer produced in the United States; he refuses
to impose import quotas like President Nixon when our trade deficit
in 1971 was a miniscule of our trade deficit today; he refuses to compete
in the trade war, which would create millions of jobs.
is against U. S. jobs. Congress should remove the disadvantage of our
tax laws and call for enforcement of our trade laws. But if it does,
coming down on its head will be Wall Street, Corporate America, the
Business Roundtable and Tom Donahue of the U. S. Chamber of Commerce
contributing to Congress' defeat. Congress engages in a charade of "jobs"
bills for stimulation and small business. Small business doesn't create
jobs. Manufacture is the jobs multiplier and the engine of growth. The
competition in the trade war is for manufacture, not retailing. When
President Obama took office, the economy had been stimulated $13 trillion
in eight years, and we were losing 799,000 jobs a month. Stimulation
media is against jobs. It goes along with the charade of "jobs"
bills, tax cuts, growth, stimulation, small business, and never mentions
the trade war.
only hope is for the people to get on the President and Congress
to cut the fundraising, enforce our trade laws, and compete in the
trade war. But as long as the President and Congress continue their
charade of wars and "jobs" bills, the United States will
not only stay on Bacevich's "path to permanent war" but
the path to a jobless America and permanent poverty."
people of the United States are against U. S. jobs. They go along with
the charade of the President and Congress because they have been politically
"Tax cuts grow the economy and create jobs." It took the
U. S. 205 years to accumulate a trillion dollars in debt in 1981.
Instead of growing the economy, Ronald Reagan's tax cuts grew the
debt to $2 trillion in eight years. President Clinton cut spending
and increased taxes, which created 22 million jobs in eight years.
But Bush gave us $5 trillion in tax cuts causing the debt to grow
$5 trillion and we lost almost a third of our manufacture.
"Government doesn't create jobs, business creates jobs."
In the trade war government is the principal creator of jobs and the
only protection for domestic investment, production, jobs and the
(c) There is too much regulation. "Free up American business,
and we'll have jobs." Teddy Roosevelt taught us that capitalism
works best regulated. The banks have now proved that capitalism doesn't
work unless regulated.
Government shouldn't set an "industrial policy." Government
has already set an industrial policy in domestic commerce (anti-trust
laws, etc.), and an industrial policy for foreign commerce with trade
We can't adopt a value added tax because we would never stop spending.
We haven't stopped spending without a VAT and a VAT could stop the
wasteful spending on interest costs. Moreover, a VAT is necessary
to make us competitive in the trade war. One hundred fifty countries
compete in the trade war with a VAT that's rebateable on exports.
We could eliminate the corporate income tax and replace it with a
5% VAT that would bring Corporate America home. Corporate America's
$1 trillion in off-shore profits could be repatriated tax free to
invest in production and jobs. VAT exemptions for the low income on
food, health and housing costs would still leave $400 billion to pay
down the debt.
wars where none exist and go AWOL in a real war -- the trade war. With
production locating anywhere, every nation is competing in the trade war
for investments, production and jobs -- except the U. S. The financial
crowd that caused our economic collapse insists on its staying collapsed
with cries of "free trade," "don't start a trade war."
Our only hope is for the people to get on the President and Congress to
cut the fundraising, enforce our trade laws, and compete in the trade
war. But as long as the President and Congress continue their charade
of wars and "jobs" bills, the United States will not only stay
on Bacevich's "path to permanent war" but the path to a jobless
America and permanent poverty.
Hollings of South Carolina served 38 years in the United States Senate,
and for many years was Chairman of the Commerce, Space, Science &
Transportation Committee. He is the author of the recently published book,
Government Work (University of South Carolina Press, 2008).
Ernest F. Hollings. All rights reserved. Contact
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Ernest F. Hollings served
the public for 56 years -- 38 years in the United States Senate and as South
Carolina's governor, lieutenant governor and a member of the S.C. House of
Today, Hollings continues
to be influential in public affairs and offers this Web site as a compendium
of current and past positions on public issues. Learn
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Hollings receives French honor
France honored retired
U.S. Sen. Fritz Hollings on in 2013 by awarding him the Legion of Honor for
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