I am afraid that we as a society in the United States are committing economic suicide. Many of our best jobs and industries are being lost to overseas low-cost labor. This is being done at an alarming rate with little to no [thought for the] consequences to American citizens left in the wake of this disastrous practice. We are literally exporting jobs and importing underemployment!
Please don't get me wrong, I am in favor of outsourcing under certain circumstances. But I am truly baffled when I hear our political leaders talk about job growth in our country. What jobs? From what industry? Many may be lost completely before very long!
Let me share with you what I propose as a partial solution to the problem that we face as a nation. Jobs are now leaving the United States for low-cost overseas labor. What if we were to offer our United States businesses a tax credit on all the goods and services that they purchased domestically? If you, as a business leader, purchase a truck (U.S.-manufactured), then you would receive a tax credit. If you choose to purchase a foreign-made truck then you get no tax credit.
First, this will give U.S. businesses a more fair and level playing field. Second, by businesses prospering in the United States, this will retain and possibly create jobs for our citizens who will receive paychecks for their work. It's a twofold stimulus package to our domestic economy.
To those who consider this protectionism, they are wrong. First of all we will be helping our own citizens and businesses by creating an incentive to buy domestically. That is a very good thing. Our overseas trading partners are many and they will continue to receive their share of business worldwide.
Our economy is in dire straits. We need to focus on what we can do to help ourselves.
Abco Tool & Die Inc.