28th Amendment to the Constitution of the United States

The following amendment to the Constitution is proposed to assure the enactment of trade policies that pursue a restoration of a balance of trade. It is worded to provide for a proactive approach by the United States, as opposed to a passive approach that relies upon the promises and good faith of other nations.

28th Amendment to the Constitution of the United States

The United States shall not maintain a trade deficit with the rest of the world. The Congress shall enact trade policy utilizing import quotas and tariffs as necessary to assure that the cumulative effect of trade over the years, as measured in current dollars, is to maintain a neutral or positive balance of trade. The Congress shall review and adjust as necessary such import quotas and tariffs annually to maintain an overall, cumulative balance of trade. The United States shall not be a member to any international organization that does not recognize the United States’ fundamental right to manage international trade in its best interest.

What This Amendment Does and Does Not Do:

  1. It forces Congress to restore a balance of trade by enacting import quotas and/or tariffs, putting control of our trade results in our hands instead of relying upon the promises of other nations.

  2. It prohibits membership in international organizations like the WTO (World Trade Organization) that do not recognize the United States’ fundamental right to manage trade in the best interest of its citizens.

  3. It does not repudiate free trade or globalization. It merely requires that they be conducted in such a way as to assure that the United States does not run a trade deficit.

  4. It does not prohibit trade agreements with individual nations that may result in a deficit. It merely requires that the sum total of all such agreements result in an overall balance of trade with the rest of the world.

44 Responses to 28th Amendment to the Constitution of the United States

  1. […] 28th Amendment to the Constitution of the United States […]

  2. howard says:

    if china owns one trillion of our tresury bonds , in dollar terms , what is the amount of chinas tresury bonds does america own ???? answer is zero

  3. howard says:

    if it is true that america determines the health of the economy on how well the stock market is doing???? can it also be said that china determines the health of their economy as how well their trade surplus is doing???

  4. howard says:

    the so called “w t o” is the ruling body concerning free or unfair trade practices. it may be the most important rule is this. currency manipulation. this occurs when a nation purposely maintanes its currency at a rate that forever allows it to have a unfair advantage concerning concerning world trade. it is the responsibility of the president , either bush , and now obama , to enforce these rules. is this a true statement?????

  5. howard says:

    if china is our friend and ally , and now america has transferred one trillion dollars to their economy , why is it that iran and russia are its main ally , and china does not help us in the war with terroism???

  6. howard says:

    talk about bailouts , did you know that obama could jumpstart the economy by transferring one trillion dollars to the poor and the middle class by the means that one trillion dollars would create 20 million jobs at 50 thousands dollars per year. i can tell you this. obamas plan will not prevent the coming depression. it is a drop in a bucket , way to little. the only way to fix the economy is to create demand.

  7. howard says:

    if america would decide to exit the “w t o” and we decided to manufacture our own shoes , shirts , brooms , autos , name it and we can make it. immediately the unemployment rate will drop to zero. in which uncle sam will have taxpayers. and uncle sam will no longer have to borrow money from china. this is a “win win” situation. the only thing the world wants to buy from us is our military secrets. the world hates our constitution , our freedoms , and the american people.

  8. howard says:

    one final remark!!! i am certain that a majority of americans agree with my remarks. there are some americans that are in bed with the so called free traders because they are in bed with those who are determined to destroy america. the word is “greed” $$$$$$$. i am certain of this also. if a “grass roots movement” were to get started , and a amendment to the constitution was to be started in the small towns all across this coutry , then we are more powerful then them. it is time for an american trade surplus.

  9. […] 28th Amendment to the Constitution of the United States […]

  10. howard says:

    what measurement could we use to determine wealth of a nation? would it be natural resurces? would it be “g d p”? would it be trade surplus? would it be gold? would it be infrastructure? would it be military , the number of submarines , superior aircraft , military secrets , icbm’s with hydrogen bombs prepared to be launched? would it be manufacturing? and where do we , the “u s a” stand , are we number one in the world?

  11. howard says:

    russia is number one in natural resources. over 50% of the worlds supply of titanium is in russia. maybe 25% of the oil. but russia lacks intfrastructure. japan , its currency possibly the strongest in the world . with trade surpluses going back to the 1960’s , the yen is number one. china , which has had growth of 10% to 15% for 15 straight years , yet manipulates its currency so as to lock in trade surpluses for years to come , and has one trillion of worthless u s tresury bonds in their banks.

  12. howard says:

    the united states of america , once the wealthiest nation on earth , is now a bankrupt superpower. we neither have natural resources , oil , gold . we have mothballed our manufacturing plants , many of them we already used cranes and bulldozers to permanently to destroy them. so we no longer have the ability to export products , in which the world is not interested in buying from us. yet we still import products from all over the world.

  13. howard says:

    hopefully obama , at some point and time will realise that we must exit the “w t o” and cancell all of the trade agreements and adopt pete murphy’s 28th amendment , and put our young people back to work. and then we will no longer have to borrow money from the world. we will have taxpayers. we can pay our bills , but number one priority is our military. america has several enemies. i admire obama’s attempt to forge friedship , and the truth is that we can no longer afford to have american troops all over the world. lets bring the troops home , but we must be prepared to defend ourselves.

  14. howard says:

    if you go to polling report.com , you will see results that show most polls indicate that unfair trade deals are harmful to our economy. most certainly when you go shopping at walmart , and you see all of the products manufactured in china , and if you understood how china manipulates their currency so as to forever have an unfair advantage in world trade , i am thinking that 90% of americans would demand that obama would immediately call on china to revalue their currency. i can tell you this. in all of our major cities , the members of our street gangs get it. as they circulate amongst us , with their loaded revolvers in their pockets , they know that the economy is a false economy , that their is no opportunity for them for a living wage , that the justice system allows for a revolving door and they will be back on the street soon. there are not enough prisons that you can build to keep them locked up. and it will get worse. obama has a responsibility to enforce regulations concerning currency manipulation. this is a train wreck coming down the track much , very much bigger then global warming. i , myself , voted for obama as i was sure that he would address this issue. as he walked the streets of chicago , certainly he must of understood the results of loosing our american jobs. certainly he must of understood that people who work pay taxes. either you have taxpayers or you borrow money from the rest of the world. at some point in time ,if we continue on this course , there will no longer be a united states. we simply will not be able to defend ourselves. it requires a lot of money for research and developement for a modern military. we need to amend our constitution so as to require that our government enforce laws concerning trade and jobs. many of our young street gang members would want to quit the street gangs and find a good job to be able to feed and clothe their family. this is a no brainer.

  15. howard says:

    recently obama has adopted a system called , “paygo” this was the same system bill clinton operated during his term as president. and it was possible for clinton to balance the federal budget, yet clinton had a advantage. because of the fall of soviet union , clinton was able to reduce spending. actually america is being forced into “paygo” as the world no longer believes that america is credit worthy and wants to buy tresuries bonds. and so if one is unable to raise taxes on the wealthy , which republicans point out is socialism , then there is only one other option. and it is so dumb that no one can see what that option is. it is that dirty word “protectionism” immediately we must cancell all of the stupid agreements called “gatt” and “wto” and “nafta / shafta” only IF ,,,, IF america returns to what it was that made us what we were , america that defeated japan and germany , and was able to use diplomacy to encourage the soviet union , to see that war was insane , this was who we were. we manufactured our own clothes. we made our own shoes. we were the number one manufacturing country in the world. and because of this , we had taxpayers. immediately we must tax imports and we must tax corporations which outsource jobs. immediately we must postpone global warming issues. immediately we must open up our huge natural gas reserves and convert our trucking companies to run on propane gas. ?? i wonder how many barrells of oil we use for our trucking companies. BUT OUR NUMBER ONE PRIORITY IS JOBS , PEOPLE WORKING AND PAYING TAXES. i will finish on this point. “paygo” will not allow us the freedom to enforce many new regulations , because , this is a national emergency. if america defaults on the tresury bonds , then we will see a depression that will be much worse then the 1929 depression

  16. hungry4food says:

    personally I would tie Health care into this amendment

  17. hungry4food says:

    Subject: New Reserve Currency needed to stabilize World Economies , food for thought ………….

    What we have is more production than the consumers can consume in all categories , with the developed world reaching a High Tech Manufacturing capacity like never before !!!! The problem now is the lack of resources to manufacture with , thats coming in the very near future , as China stock piles raw materials that will one day place the USA and the dollar in a position of rejection by trade partners , making negotiations for goods from these trade partners almost impossible , with in turn will lead to USA and UK isolation from supplies of goods , and Hyper Inflation over whats left , as the western nations struggle to make up the lack of supply , with a decimated manufacturing base , causing full blown nationalization of economies in the western nations as this Isolation of countries plays out from dollar rejections .
    So we need a New Monetary Policy that can recapitalize our financial position back to a sustained level and then build growth from there based off fundamentals that take into consideration the very quality and cost effective allocations set forth by sustainable monetary policies that address today’s needs , as well as future growth needs , all driven with trades in these market categories that reflect all nations currencies trading at parallels that carry a system of guarantees that if one country starts to abuse credit by over reaching a sustainable level of risk for advancement , if the trend does not meet a criteria that addresses the need short or long term , then investors would see this and adjust their risks into more guarantee investment platforms , like International Precious Metals markets guaranteeing the basket of Reserve Currencies , rather than the Dollar as the Only Reserve Currency , to hedge away from Geo Political pressures that tend to abuse credit allocations for voter approvals . same with any countries abusive manipulations of taxation either to high or low , for reasons that do not drive the needs of society by advancements and those advancements be inspired by monetary incentives for performance of innovative processes feeding the needs of present and future societies , like is somewhat like we have today , just that the equality of these fundamentals have been shadowed by Politics to the point that Wealth Consolidation has been the results as well as a saturation of products from the 2 colliding in the 21st century , as the Dollar is manipulated over and over again . No matter how much diversity we place into our Investments , as long as its denominated in ” Dollars Only ” , the manipulation by the big banks as they try to consolidate the transactions of International Trade , and this will continue the restriction of capital formation as the wealth of world economies continues to consolidate through the financial sectors and ending back at the originator of the Manufacturing sector for goods , thats under valuing the operating currency value of their production values , causing all other trade partners currencies to devalue towards them .
    The root of the dollar devaluation , which has kept US and UK working families wages forced to compete to Asian wages is why we are now losing the fight in competition , and a devaluation of our economy , and dollar because we cannot manufacture anything , that is our way of creating New money , so now we devalue towards Asian currency values . Until we right this wrong , which Gresham’s Law tells us is a flaw in economics when 2 different valued currencies trade in the same markets the lower valued will devalue the higher , without some form of balancing measure , ie ; Tariff Trade , which was banded in 1994-5 , which was told to our congress this devaluing effect was and would take place … read here ; The High Cost of the China-WTO Deal
    Administration’s own analysis suggests spiraling deficits, job losses
    by Robert E. Scott http://www.epi.org/publications/entry/issuebriefs_ib137/ ; this independent analogy of how the USA and European Economies would crumble under the tariff Free trade agreements is a direct example of Gresham’s Law of the 14th Century ; read here ; http://www.columbia.edu/~ram15/grash.html , which we should argue with the professor here in the thesis over the fact that it ” DOES ” indeed lead to the devaluation of the higher valued currency……..

    But I am just saying we cannot go back to tariff Trade law because that would bring isolation to the WTO trade partners and hyper inflation and eventual conflict , but we might be able to gain the benefit in this ETF basket of Currencies , if the USA and the UK would throw in and make this the Tradable Reserve Currency !!!!!!!!!!!

    Think how world economies could expand and help causes like the Afghan Women and Children , if business could value finance and the values of funding through vehicles that would be balanced like this kind of ETF as the Reserve Currency of International Trade ????? take this alliance
    http://www.marketwatch.com/story/morgan-stanley-mufg-to-bolster-global-alliance-20096301736240 If the USA and UK were in the Basket of Currencies together with the WTO Trade partners , a revaluation of the WTO Trade partners currencies into this New One World Trade Reserve Currency would effectively address through vehicles like these the advancements of under-developed nations , and stabilize economic structures at the same time , so that value appreciation in economic growth worldwide , and Peace through fair and free trade agreements can continue , its only right that we debate the path we have came to today that demands we consider what our Trade partners are asking that we engineer a New Reserve Currency that can accommodate the needs of all developing nations so that developed nations don’t end up consolidating the wealth thats produced from developing nations , all peaceful propositions !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    But today what this calling of the change of the Reserve Currency status that the dollar represents by Chinas willing to negotiate the change , is that this gives the USA a better way to Negotiate with China and Russia ways to curb the violence in Radical regimes like Iran and Korea , what a Position to be in !

    China Calls For New Reserve System: Currency ETFs In Focus

    http://etfdb.com/2009/china-calls-for-new-reserve-system-currency-etfs-in-focus/

    by Michael Johnston on June 29, 2009

    New International trade currency needed to balance wealth redistribution of International markets

    This ETF traded fund is a start of a new way of valuation of currency trade to help counter balance the trend of different valued currencies trading in the same markets , and their devaluing effects that happen when lower valued currencies trade in the same markets as Higher valued ones , with the inclusions of Precious metals markets acting as balancing counter measures .

    http://www.wisdomtree.com/library/pdf/materials/WisdomTree-Case-for-Emerging-Currencies-CEW-570.pdf

    WisdomTree Multi-Currency http://www.WisdomTree.com/EmergingCurrency 1st ETF Exposure to World Money Market Rates in 1 Fund. Learn More China’s central bank once again stated the need for reform of the international currency system to reduce over-dependence on current reserve currencies (read: the U.S. dollar). While the People’s Bank of China (PBOC) didn’t specifically mention the dollar in its statement, the desire to replace the greenback as a central component of many countries’ foreign reserves holdings was quite clear. “To avoid the shortcomings of sovereign credit currencies acting as reserve currencies, we need to create an…international reserve currency that can maintain the long-term stability of its value,” the PBOC said.

    Subject: EVIDENCE-OF-GOVERNMENT-MANIPULATION-IN-THE-STOCK-MARKET A nice video talking about government manipulation can be found here

    Fundamentals Review A nice video talking about government manipulation can be found here
    A few weeks ago the idea was floated of regulating the over the counter derivatives market who’s nominal value is approaching $1 quadrillion. I opined that they would fight tooth and nail to avoid this and sure enough the fight is beginning. Lobbyists are to begin by releasing a letter to regulators http://www.reuters.com/article/businessNews/idUSTRE54S11K20090529?feedType=nl&feedName=usbusinessearly professing their commitment for transparency. If that is true then what’s the problem? The problem is many of these complex derivatives are worth much less than the 100% they are valued at on the books today. Maybe 20% in my estimation.

    I doubt we will ever see the true value of these since it would effectively show the worlds major financial institutions are bankrupt. All the institutions would have to do is repeat the scare tactic they used when the first bailout program was passed on the second vote. They basically threatened the end of the economy as we know it and that marshal law would have to be enacted almost immediately. It was a bluff that worked then, and would work again.

    It reminds me of a joke I heard recently. What’s the difference between the drunks in Vegas and Washington? The ones in Vegas gamble with their own money!

    A nice video talking about government manipulation can be found here http://myprops.org/content/EVIDENCE-OF-GOVERNMENT-MANIPULATION-IN-THE-STOCK-MARKET-Dan-Shaffer-explains-on-Fox-Business-News-video-and-transcript/ and is well worth a viewing.

    To create the means to negotiate Peace lies in the negotiation of a new reserve currency .

  18. hungry4food says:

    crony capitalism , and the To Big To Fail elites need to be reshuffled back into the system and work their way back up from the bottom .

    The Rich Have Stolen The Economy

    http://www.bloomberg.com/apps/news?pid=20601087&sid=abo3Zo0ifzJg

    Bloomberg reports that Treasury Secretary Timothy Geithner’s closest aides earned millions of dollars a year working for Goldman Sachs, Citigroup and other Wall Street firms. Bloomberg reports that none of these aides faced Senate confirmation. Yet, they are overseeing the handout of hundreds of billions of dollars of taxpayer funds to their former employers.

  19. hungry4food says:

    The fear of unsustainable worldwide Population growth has investors Hoarding their Money and forcing the Fed to Print more Liquidity , and raw materials & commodities being consolidated .

    Once you read what our top Agronomist says about the near future of the worlds Population growth estimates you can begin to grasp the Hoarding of the Money and once this was understood by a vast majority of investor classes in the world , the capital began to be hoarded and as the money left the system by the time 2007 came along the Fed had to start pumping more liquidity into the system in order for it to not collapse .

    In 2006-7 the futures markets reacted to the pressure on Food Supply with price Spikes once Ethanol Subsidies were put in place , and this opened the window on the Population growth point of view and where we stand with dealing with this .
    we are at a crossroads with the future in both financial and investments , and dealing with this Phenomenon thats changing the future of the world as we know it today .

    http://en.wikipedia.org/wiki/Norman_Borlaug

    The future of global farming and food supply .

    If you look at this chart you will se that Inflation is inevitable ; http://www.ciovaccocapital.com/sys-tmpl/moneysupplyexpansion/

    Alarming Expansion of Money Supply Will Eventually Lead to Inflation
    The chart below was created on the website of the Federal Reserve Bank of St. Louis. It shows the eye-popping expansion of the money supply as financial institutions have swapped securities and other “assets” for cash via borrowing from the Federal Reserve. Borrowing prior to this crisis is barely visible on the graph. Recent borrowing is an extreme example of the term “spike” on a graph. http://imagehost.vendio.com/preview/cc/ccmautomotive/BanksBorrowingFromFED.png

    The new Currency trade that can change the way fiat instruments have been manipulated all these years , and allowed consolidation of wealth of fiat currencies to be concentrated into manipulated sectors of Asia . The time has come now for this change , and having a position Commodities can allow the independent investor the ability to take advantage of the manipulation rather than be a victim of this Inflation driven market that is entering its beginning stages of growth .

    here’s a thought about the future to put substance back into the dollar ;

    http://www.commodityonline.com/news/Fiat-currencies-out-gold–silver-the-new-currencies-24132-3-1.html

  20. howard says:

    ok , nine months sinse my last post. unemployment rate at 10% , some say it is 20%. the fed is hinting that the economy is starting to recover , yet house prices are still falling. that fact says we have deflation. in 1928 and 1929 , the fed increased interest rates while the country had deflation , and immediately the country went from recession to depression. we are a bankrupct superpower. only if a nation is an economic power can it remain a military power. this is established in all history books , and america will not survive either. and the key to our survival is a strong manufacturing base and a trade surplus. it is that fact that allowed america to defeat japan and germany during w w 2 , allowed america to outlast the soviet union during the cold war , and allowed america to put a man on the moon. then along came reagon who decided that america needed some “class warfare” and he cut taxes for the wealthy , froze wages for the poor and middle class , and started supply side economics. then along came the next idiot , bill clinton and nafta and the w t o. one year now has passed and obama is either stupid or getting bad advice. china is still sending ship loads of cheap “made in china” junk. one full year later and if he succeeds in a new health care plan , only the insurance companies will win. this health care plan should have not been the priority. it is all about jobs and job security. and it is about what wages those jobs will pay. america needs to rebuild the middle class and help the poor to join the middle class. and in this way we will restore the most important tax base , so as we as a nation can pay our bills without going to china to borrow money.

    • Pete Murphy says:

      Agreed, Howard. So I’d like to hear how you feel about the subect of this page – the “28th Amendment.”

      • howard says:

        to mr pete murphy: sorry i have not visited your web site more often. when george washington and thomas jefferson , after victory over king george , sat down and with a lot of input of many from all of the colonies , if they had known about currency manipulation , that future presidents could create a “false economy” whereas tax cuts would allow a population to think the sun is rising again in america , reagon’s words , and in fact the beginning of the sun setting in america. the fact that the government can sell tresury bonds to a foreign country , so as to balance the books , well this is fraud. and so we need also a 29th amendment , in which the government must balance the budget. so this is all funny money. so it is a “no brainer” , sir , that what is needed is full employment , jobs , jobs , jobs , and more jobs. in that way you will have taxpayers. in doing this , we can begin to balance the budget. the key is the “tax code” . we must pass legislation in which it is too expensive for any company to out source labor. and give tax credit to a company which re-locates their manufacturing back home. now if obama ignores this fact , then maybe this new “tea bag party” will be the avenue to restore america. it is sad. while bush was intent on waging a war in iraq , china was , and still is waging an economic war on america. my hat is off to you , mr pete murphy , for your ideas , for this web site , for this message board. i worry that this new “tea bag party” is too closely aligned with the republicans. if we all are pointing fingers so as to blame our problems on the other guy , how will it be possible for all americans to solve our problems , which is put america back to work. i know that i am making it all seem easy , and you know that it will be hard. yet it was not easy to go to the moon , or win the cold war with the soviet union. and so if george washington could see america today , i think that he would have wanted the constitution to mandate that we would not allow ourselves to sell tresury bonds to foreign countries so as to balance the budget.

      • Pete Murphy says:

        Nice to hear from you again, Howard. Regarding the tea party movement, I see them as a mish-mash of people who are angry and concerned for various reasons, including all that you mentioned above. They seem to have mostly libertarian bent, and the Republicans are the closest fit for them. That is, the Republicans are doing the best job of pulling them in. There’s lots of anger out there. I just wish that folks would finally realize that neither the approaches of the left or right are working for us because both are rooted in the same economics of free trade and population growth. I’m afraid that nothing is going to change until the economics that underpins their philosophies changes. That’s been my whole thrust, to try to inject some new thinking into the field of economics.

      • howard says:

        mr pete murphy” once again , i 100 percent agree with all four points of your 28th amendment. also i am thinking that 80 percent of all americans would agree. now!!!! how to go about getting a “grass roots movement” started in which it would , once started , become an engine so powerful that no one could ignore it. i think that it would take a printing press , in which interested persons would distribute it amongst friends. they could have a sticky adhesive on the back side so as to be tacked to convenient places. that would be a good start. but before setting in place a “full scale” operation , we probably should select a small town , and do a pilot operation. so as to see how well it would be received. what do you think?????

      • Pete Murphy says:

        From time to time I’ve pondered starting a new political party based on these ideas but just don’t have the wherewithal to pull it off. But I’m trying to do my part to raise awareness through my book and this web site. I’d love for readers to take the initiative to further spread the word.

        I’ve also been working lately on a more scholarly treatise on the subject for submission to economics journals in the hopes that it might be published. (See http://petemurphy.wordpress.com/2010/02/03/announcement/) I’ve completed work on that paper and will begin submitting it to journals this week.

  21. Pete Murphy says:

    Give me a try, John. Dazzle us all with your economic brilliance, if you dare. Otherwise, this inane comment will soon vanish.

  22. hungry4food says:

    we need something different to combat this Fascism …….

    Federal Reserve Seeks to Protect U.S. Bailout Secrets
    Bloomberg says that the Federal Reserve has made $2,000,000,000,000

    This is NOT all about AIG …..

    http://www.bloomberg.com/apps/news?pid=newsarchive

    Bloomberg says that the Federal Reserve has made $2,000,000,000,000 (two
    trillion dollars) in emergency loans to banks and now refuses to make the
    details public. Read it fast — the story disappeared from the list.

    http://www.bloomberg.com/apps/news?pid=20601087&sid=aatlky_cH.tY&refer=home

    Fed Defies Transparency Aim in Refusal to Disclose http://www.bloomberg.com/apps/news?pid=20601087&sid=aatlky_cH.tY

    • Pete Murphy says:

      So, Hungry, what do you think about this proposed amendment specifically?

      • hungry4food says:

        I think this 28th amendment acts similar to the Reagan GATT trade agreement .

        But all this trade relations stuff needs to be dealing with different valued currencies too so the lure to have things built in lower costs regions due to simple differences in costs that Really today with all the Growth in Asia thats evolved should have resulted in a steady rise in those nations currencies , but rather we have seen even Hank Paulson testify before Congress that China has been manipulating their currency , but did nothing to counter it regardless of if our position with them being leveraged is not the ” Only ” reason why we continue to do Nothing about the flow of goods coming out of there is because of this , when quality should be the way goods are valued and those values be what determines the value of a nations currency . This would force nations to be driven to hold a higher standard of acceptance for rules that cause indebtedness or solvency and allow for a better trade relationship to emerge that can benefit trade partners and the way they price goods and services that could result in trade imbalances being negotiated through further trade agreements that forgive and retire in certain circumstances for the benefit of moving forward to the betterment , like todays results from allowing currency manipulation thats sucked all the durable wealth creation from nations that through no free competitive reason lost their durable manufacturing base and with it wealth distribution of the retail markets that distribute durable wealth created

      • Pete Murphy says:

        Hungry, GATT (the Global Agreement on Tariffs and Trade) was signed by the U.S. during the Truman administration in 1947.

        Currency exchange rates can never restore a balance of trade because those exchange rates tend to stabilize not when a balance of trade has been restored but when unemployment equalizes between the two nations, which means that the less densely populated nation is permanently saddled with a trade deficit. Only tariffs can restore a balance of trade. The World Trade Organization knows the benefits of tariffs. That’s why the WTO enforces them in favor of two thirds of its member states – primarily undeveloped and developing nations – including China, but not the U.S., of course.

      • hungry4food says:

        Pete this would fix the trade deficit problem , they have provisions in this that would keep JOBS here in the USA that are leaving due to unfair tax code issues …

        http://wyden.senate.gov/issues/Legislation/wyden-gregg/index.cfm

        http://dealbook.blogs.nytimes.com/2010/02/23/2-senators-propose-big-corporate-tax-cut/

      • Pete Murphy says:

        Hungry, if you and I had $5 for each time a corporate tax rate cut was sold on the proposition that it would help American companies compete in the global marketplace, we’d both be rich. This won’t do anything to help the trade deficit because the trade deficit isn’t about “competing.” It’s about the population density disparity between the U.S. and countries like China, Japan, Germany and S. Korea. It’s about their low per capita consumption, making them dependent on exports to sustain their bloated labor forces. The only thing that can change this situation is a return to the sensible use of tariffs to assure a balance of trade.

        Corporate tax relief may or may not be a good idea. In the final analysis, the federal government has to generate revenue from someplace – either individuals or corporations. If we lower corporate rates, individual rates go up. In the end, individual citizens pay all the tax anyway since corporations just pass the cost through to the consumers. They’ll get us one way or the other. Real relief would come from ending the give-away of a big chunk of our economy to foreign exporters.

  23. hungry4food says:

    they don’t want growth , all they have done with this free trade agreement was let it consolidate the wealth a the free market to bring it to and end so they can take over the Resource distributions and put in place population controls , thats what cap and Trade and Health care are really all about , and the Plan was started in the 1970s , read this ;

    http://www.population-security.org/11-CH3.html

    http://www.mathaba.net/0_index.shtml?x=90207
    fast forward to today ;

    http://zombietime.com/john_holdren/ science Czar to Obama

  24. hungry4food says:

    How to Control the AMERICAN Population by Paul Ehrlich , both these guys adviser to our President ;
    copy and paste this link ;

    http://api.ning.com/files/k8eTI46aPmFoC*2YAwbJKNA0ynjqNMPkAWc364um0hFryXrn

    Ciwz7Aj0us0lz6nMDxpOErKkoOFI1yQyJxaBvmUtOCg37l0c/
    14211548HowtoControltheAMERICANPopulationby
    PaulEhrlichThePopulationBombBrentJessop.pdf

  25. Dave Cribbin says:

    Pete,
    Enshrining the great success brought about by the Smoot Hawley Tariff act as a constitutional Amendment is shear genius.

    Institutionalizing Depressions as a Constitutional right.How do you top that one.

    • Pete Murphy says:

      Dave, have you ever studied the Great Depression? It doesn’t seem so, since those who have know full well that Smoot-Hawley had nothing to do with it. Do you know that:
      1. Smoot-Hawley wasn’t signed into law until June, 1930, a full eight months after the October, ’29 stock market crash?
      2. Smoot-Hawley barely changed tariffs at all from the previous Fordney-McCumber Tariff Act of 1922?
      3. At the peak of the Great Depression in 1933, the U.S. balance of trade had declined by only $0.67 billion from its pre-depression levels, while total GDP had declined by $33.1 billion?

      Smoot-Hawley had absolutely nothing to do with the Great Depression. In fact, the decline in trade was due to the depression, not vice versa, just as 2009’s big decline in trade that almost exactly mirrored what happened in the Great Depression was due to the recent near-depression.

      You need to put a little effort into studying history.

    • Pete Murphy says:

      Oh, and by the way, Dave, if restoring a balance of trade would cause a depression, why doesn’t the same thing apply to China, Japan, Germany or all of the other nations who benefit from the protectionist policies of the World Trade Organization, which actually enforces tariffs on their behalf?

  26. hungry4food says:

    Pete heres a idea that might generate some momentum ifg we all rally behind this ……

    http://gregg.senate.gov/news/press/release/?id=17a33d25-df43-44cc-b336-85cf0cd523f1

    • Pete Murphy says:

      Tax reform is outside the scope of this forum, unless it has some effect on trade policy or population policy, and I don’t see that here. So I won’t offer an opinion one way or the other.

  27. hungry4food says:

    I would support any new party that supports people who seek to start a term limits party that sees the Government not as a career but as a place to bring their ideas forth that can be assembled for making the country better , and then these thinkers go home after a while to make way for more Independent thinking to rise up so originality can be the force that brings progress to the majority .

    A ” Term Limits Party ” would compete quite well in the eyes of most Americans , and through this type of willingness to not be bought into the Government over time would give the main street American a chance to see some sustaining policies because if these types of people had to fit back into society after a time limit in Office to fend for their lives and make their way to retirement age , they would make sure that the system would be supportive of the economy as a whole for all in the land of the free and the home of the brave …..

  28. […] Never has America been so threatened by neglect of its economy and by a complete failure of leadership.  Never has it so badly needed an amendment to its constitution to mandate the inclusion of common sense in its trade policy.  (See http://petemurphy.wordpress.com/more-good-stuff/28th-amendment-to-the-constitution-of-the-united-sta…) […]

  29. […] of trade deficits and population growth to pump up sales volumes and stock valuations.  (Thus, the 28th and 29th amendments I’ve proposed on this […]

  30. […] even been proposed is one that we need perhaps more desperately than any of the others – the 28th Amendment proposed on this web site – prohibiting the U.S. from running a trade deficit and from being a […]

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