Comparison of Import Certificates and Tariffs

[Toddsterpatriot]

balance of trade is just one factor to consider regarding our whole economy.

why shouldn't structural inefficiencies in our economy be solved first, to then see where we stand regarding trade?

DanielPalos, a recent post within another group:
JBander, I'm among the proponents for three economic proposals in particular:
(1) Each Labor Day, the federal minimum wage, (FMW) rate should be cost-of-living-adjusted, (COLA'd) by pegging it to a federal cost-price-index number. This method has been successfully retaining Social Security retirement benefits' purchasing powers.
(2) Each Thanksgiving day until the FMW rate attains 150% of its February 1, 1968 purchasing power, the rate should be increased by an additional 15%. The nation would have benefited if the minimum's purchasing power had been further increased since its peak value, rather than the significant decline we have experienced.
(3) Enact the trade policy described within Wikipedia's “Import Certificates” article. It would significantly reduce USA's trade deficit of goods in a manner that would increase our domestic production and our numbers of jobs more than otherwise. Beyond the fact that trade deficits always reduce the GDP, I'm among those contending that although the extent of trade deficits' detriment to domestic production cannot be determined, we know that it exceeds the amount of trade deficit itself.

These three proposals do not materially affect our annual federal budgets; Although, there are initial start-up costs necessary to enacting the self-funding Import Certificate policy.
They all contribute to increasing our median-wage which is critical to our middle income earning segment of our population.
The FMW rate effects upon jobs' wages are inversely related to the difference between the minimum's and the job's rate. Those earning the least, proportionally benefit more; those who earn more, proportionally benefit less, but all USA employees benefit from the federal minimum wage rate.

Respectfully, Supposn.

Each Thanksgiving day until the FMW rate attains 150% of its February 1, 1968 purchasing power,

You want the minimum wage to be $17.50? What a perfectly terrible idea.

The nation would have benefited if the minimum's purchasing power had been further increased since its peak value,

How many people make minimum wage?

 

[Supposn]

balance of trade is just one factor to consider regarding our whole economy.

why shouldn't structural inefficiencies in our economy be solved first, to then see where we stand regarding trade?

Fix the infrastructures!

DanielPalos, annual trade deficits are always detrimental to their nation's GDP.
That is a fact based upon the formula used to calculate GDP. A positive balance of trade, (i.e. a trade surplus) contributes, and a negative balance reduces the calculation of the nation's GDP.
I don't believe a credible economist would deny that lesser GDP drags upon their nation's numbers of jobs.

Regardless of the nation's economic condition, in times of plenty or times of want, a trade deficit indicates the nation consumed more good and service products than it produced. You're going to tell me that's a sustainable economic policy?

I have no doubt that any significant improvement of our nation's educational and training systems would be reflected be of no less improvement of our economic and social conditions. Some states have tried throwing money at the problem; that hasn't worked. If we had superior well-informed voters, we might not have great trade deficits. But until then, annual trade deficits are always detrimental to their nation's GDP.

If we improved our public and non-government infrastructure, it would improve our economy. (that was something that conservatives and liberals did historically agree upon). Our antiquated railways and rolling stock are a national disgrace. The costs of accidents due to unsafe equipment and signaling systems have been paid by great losses of lives and money.

Local and state governments diverted funds to take advantage of the federal highly subsidized funding for new and remodeled roads and bridges. They starved their agencies that were responsible for repairing and maintaining the existing public infrastructure. Much of the benefits we should be deriving from that mid-century construction boon has been lost. We were unable to keep up with our broken roads, bridges, pipelines, and electric grids.

Enacting the Import Certificate trade policy would not divert substantial or significant funds from any worthy national effort.

We don't lack money or credit; we lack mutual respect and willingness to sacrifice on behalf of us all. As Al Franken often quotes another previous U.S. Senator from Minnesota, “We all do better when we all do better”.

Respectfully, Supposn

 

[Supposn]

You haven't shown me that a lower trade deficit, caused by an immediate cessation of oil imports, would increase US jobs or US GDP.

ToddsterPatriot, I'm among the advocates of the “improved” Import Certificate policy described within Wikipedia's “ Import Certificates” article.
You should direct your question to the poster of the proposal you're describing. It's my opinion the methods you have thus far suggested are less feasible and/or desirable. I'm not interested in them.

Respectfully, Supposn

 

[Toddsterpatriot]

You haven't shown me that a lower trade deficit, caused by an immediate cessation of oil imports, would increase US jobs or US GDP.

ToddsterPatriot, I'm among the advocates of the “improved” Import Certificate policy described within Wikipedia's “ Import Certificates” article.
You should direct your question to the poster of the proposal you're describing. It's my opinion the methods you have thus far suggested are less feasible and/or desirable. I'm not interested in them.

Respectfully, Supposn

I'm among the advocates of the “improved” Import Certificate policy described within Wikipedia's
“ Import Certificates” article.

I'm among the advocates of,
"You made a sweeping claim and now you're running away when I pointed out a flaw".

 

[Supposn]

Each Thanksgiving day until the FMW rate attains 150% of its February 1, 1968 purchasing power,

You want the minimum wage to be $17.50? What a perfectly terrible idea.

The nation would have benefited if the minimum's purchasing power had been further increased since its peak value,

How many people make minimum wage?

ToddsterPatriot, you'll find my response to your comment in post #28 of the thread
http://www.usmessageboard.com/threads/optimum-minimum-wages-can-be-calculated.651786/page-3#post-19894163 .

Respectfully, Supposn

 

[danielpalos]

balance of trade is just one factor to consider regarding our whole economy.

why shouldn't structural inefficiencies in our economy be solved first, to then see where we stand regarding trade?

DanielPalos, a recent post within another group:
JBander, I'm among the proponents for three economic proposals in particular:
(1) Each Labor Day, the federal minimum wage, (FMW) rate should be cost-of-living-adjusted, (COLA'd) by pegging it to a federal cost-price-index number. This method has been successfully retaining Social Security retirement benefits' purchasing powers.
(2) Each Thanksgiving day until the FMW rate attains 150% of its February 1, 1968 purchasing power, the rate should be increased by an additional 15%. The nation would have benefited if the minimum's purchasing power had been further increased since its peak value, rather than the significant decline we have experienced.
(3) Enact the trade policy described within Wikipedia's “Import Certificates” article. It would significantly reduce USA's trade deficit of goods in a manner that would increase our domestic production and our numbers of jobs more than otherwise. Beyond the fact that trade deficits always reduce the GDP, I'm among those contending that although the extent of trade deficits' detriment to domestic production cannot be determined, we know that it exceeds the amount of trade deficit itself.

These three proposals do not materially affect our annual federal budgets; Although, there are initial start-up costs necessary to enacting the self-funding Import Certificate policy.
They all contribute to increasing our median-wage which is critical to our middle income earning segment of our population.
The FMW rate effects upon jobs' wages are inversely related to the difference between the minimum's and the job's rate. Those earning the least, proportionally benefit more; those who earn more, proportionally benefit less, but all USA employees benefit from the federal minimum wage rate.

Respectfully, Supposn.

I am advocating for a fifteen dollar an hour minimum wage and unemployment compensation simply for being unemployed in any at-will employment State, at one dollar an hour less equivalent than the minimum wage for labor.

Capitalism via Faithful execution of the law, what a concept, right, right wingers.

 

[Supposn]

I am advocating for a fifteen dollar an hour minimum wage and unemployment compensation simply for being unemployed in any at-will employment State, at one dollar an hour less equivalent than the minimum wage for labor.

Capitalism via Faithful execution of the law, what a concept, right, right wingers.

DanielPalos, have you given some thought as to how we're going to calculate unemployment compensation based upon hourly earnings? Within the NJ, NY, and Ct tri-state area, unemployment compensation is now based upon average weekly labor earnings rather than upon hourly wage rates.

Respectfully, Supposn

 

[danielpalos]

I am advocating for a fifteen dollar an hour minimum wage and unemployment compensation simply for being unemployed in any at-will employment State, at one dollar an hour less equivalent than the minimum wage for labor.

Capitalism via Faithful execution of the law, what a concept, right, right wingers.

DanielPalos, have you given some thought as to how we're going to calculate unemployment compensation based upon hourly earnings? Within the NJ, NY, and Ct tri-state area, unemployment compensation is now based upon average weekly labor earnings rather than upon hourly wage rates.

Respectfully, Supposn

social services cost around fourteen dollars an hour by comparison. a fifteen dollar an hour minimum wage should be, market recognizable.

 

[Supposn]

I am advocating for a fifteen dollar an hour minimum wage and unemployment compensation simply for being unemployed in any at-will employment State, at one dollar an hour less equivalent than the minimum wage for labor...

DanielPalos, have you given some thought as to how we're going to calculate unemployment compensation based upon hourly earnings? Within the NJ, NY, and Ct tri-state area, unemployment compensation is now based upon average weekly labor earnings rather than upon hourly wage rates. ...

social services cost around fourteen dollars an hour by comparison. a fifteen dollar an hour minimum wage should be, market recognizable.

DanielPalos, your answer is not responsive to the question asked. Please, (if you're able), respond to the question.
Beyond any federal restrictions applicable to unemployment compensation, the calculation of benefits is a state issue.
Regarding minimum wage rates, the states have the right, and many do mandate a higher than the federal minimum rate to be THE minimum rate within their state.
Respectfully, Supposn

 

[danielpalos]

I am advocating for a fifteen dollar an hour minimum wage and unemployment compensation simply for being unemployed in any at-will employment State, at one dollar an hour less equivalent than the minimum wage for labor...

DanielPalos, have you given some thought as to how we're going to calculate unemployment compensation based upon hourly earnings? Within the NJ, NY, and Ct tri-state area, unemployment compensation is now based upon average weekly labor earnings rather than upon hourly wage rates. ...

social services cost around fourteen dollars an hour by comparison. a fifteen dollar an hour minimum wage should be, market recognizable.

DanielPalos, your answer is not responsive to the question asked. Please, (if you're able), respond to the question.
Beyond any federal restrictions applicable to unemployment compensation, the calculation of benefits is a state issue.
Regarding minimum wage rates, the states have the right, and many do mandate a higher than the federal minimum rate to be THE minimum rate within their state.
Respectfully, Supposn

the federal minimum is the minimum for our Union.

Capitalism is about opportunity costs. How much do social services cost in any given State, by hourly comparison?