"We have to stand strong for a trade policy that lifts up workers, safeguards human rights, and protects the environment, not one that simply hands more power and profit to massive corporations."
Their intentions are good but they all seem afraid of mentioning the word “tariff”. Short of quotas, meaningful tariffs are the ONLY way to keep jobs from being off-shored.
I’d recommend tariffs of, say, 20% on all manufactured goods with this tariff revenue paid out equally, tax-free to all adult citizens.
If this caused our last year’s $2.6 trillion in imports of manufactured goods to fall by 1/3rd (just a guess) it would raise about $350 billion in tax revenue. That would be enough for about $1,665 each for all 210 million adult citizens.
If the average price of the American made good replacing the import was 20% higher and the imports still being purchased were 20% higher, then a 2-adult household receiving $3,330 would have to have been buying $16,650 worth of manufactured goods per year in order to come out worse ($3,330 divided by 20%).
If our exports dropped by 1/3rd also, then our trade deficit in goods would be about $260 billion less than it was last year. If we produced ourselves, for our own consumption, this $260 billion drop, then we’d have several million more employed, higher tax revenue, and lower welfare type payments.
All countries should do the same.
The WORST part of NAFTA (and CAFTA, the TPP and the W.T.O.) isn’t the offshoring of jobs, it’s the ‘dispute resolution’ process that forces behind-closed doors “arbitration” of a nation’s health and safety laws that some greedy Multi-NaZional Korporation claims are “in restraint of trade” if the laws decrease its profits even a little.
And I totally agree with Sister Simone Campbell: