Keeping Our Heads Above Water: A Second Appraisal

Earlier in the year in the midst of the Republican Primaries I evaluated Mitt Romney's plan for the economy and then gave my own two cents. In the article, I outlined a plan centered on raising tariffs. While I still believe that in this situation, it would be advisable to increase these taxes on imports, I've realized that too much taxation would result in a crippling surge of prices and inflation. In addition, raising tariffs would also hurt foreign countries that have brought jobs and invested money in America, such as the several American Toyota factories. And so instead, the taxes of American businesses, particularly industrial businesses, businesses associated with IT, and other kinds that outsource, should be partially based on the percent of Americans they employ and their production assets, such as factories, in America compared to those world-wide. Providing a smoother transition to a more economically stable and independent nation, this revised plan would encourage the growth of strong, industrial-based jobs for Americans, while still allowing the government to increase their "income", without increasing the income tax.