'The Levine-Cohen Plan' For Bringing Offshored U.S. Companies Back To The U.S.: A Return To Smoot-Hawley
by Dave Levine
First, let me thank my friend Barry Cohen for this input on this idea. However, I've been writing about this subject for years.
In March 2010, I posted this excellent piece by Paul Streitz on Smoot-Hawley (with a preface by me) at
In September 2011, I posted this piece at
and in April 2012 at
Smoot-Hawley tariff figures were hard to research, but I found them at
In 1922, The Fordney-McCumber Act Tariff was "the law" at 38.48% on average (all goods, chemicals, wood, etc.); Smoot-Hawley raised these by an average of 2.5% to 41.14%.
The Levine-Cohen Plan
The RINOs controlling the GOP are as corrupt and anti-American as it gets, wanting to keep cheap Chinese "goods" flowing into the U.S. while keeping tariffs OFF of them as well as off of offshored U.S. company goods shipped back to the U.S.
The Levine-Cohen Plan ends all that corruption! It would incorporate a return to Smoot-Hawley-style tariffs--though at a lower rate of 30-33%--for ALL Chinese and other countries with slave labor-made "goods" as well as offshored U.S. firms' goods made in China and other offshored countries like Mexico, South Korea, India, etc.
Two things need to happen to bring back U.S. industry to America:
1. Tax breaks for offshored American businesses that relocate back to the U.S.; perhaps a "no tax first 2 years" plan once they've relocated and
2. The return of Smoot-Hawley Tariffs at a 30-33% level on all slave-labor country goods (China, Malaysia, etc.) AND the same tariff slapped on all offshored U.S. company goods that try to sell them back in the U.S.
Cohen wanted me to add a third thing that would need to be promised to businesses--U.S. taxpayers supplementing returning U.S. company's new American employees (NOT illegal aliens) with a portion of health care money--but there is no way that Americans would favor having to pay traitorous companies' employees' health insurance, even those companies who have relocated to the U.S. That is a private business matter between companies and their employees and should not involve the taxpayer who is already under heavy attack from the Federal government.
Barry Cohen and I are under NO illusion that either Soetoro-Obama and the Democrats or Romney and the Republicans will allow this to happen. However, we'd like to see a movement develop towards that end.