Posted on 11/13/2016 6:32:49 AM PST by central_va
In the 1895 “History of the Republican Party,” the authors declare, “the Republican Party … is the party of protection … that carries the banner of protection proudly.” Under protectionist policies from 1865 to 1900, U.S. debt was cut by two-thirds. Customs duties provided 58 percent of revenue. Save for President Cleveland’s 2 percent tax, which was declared unconstitutional, there was no income tax. Commodity prices fell 58 percent. Real wages, despite a doubling of the population, rose 53 percent. Growth in GDP averaged over 4 percent a year. Industrial production rose almost 5 percent a year.
Exactly right. End the coordinated assault by big political donors on small-to-medium sized manufacturing businesses and the problem will resolve itself in a decade or less.
We have to solidify the rust belt Reagan Democrats into the new Republican Party. We have to trade our tiny minority of anti American globalist Free Traitor™ hacks for the Reagan Democrats who are legion.
Bump for later.
Big Cap corps will have to be strong armed into repatriating industry and using US labor. Only a tariff will do that. Big Caps are leaving for slave wages.
Ryan is already on tv this morning skirting the question about tariffs to Mexico. No way the establishment in Washington will do anything.
Right, The “establishment” gets on board with protectionism or they will get crushed by the Trump revolution.
Excellent history lesson from Pat Buchanan. Thanks Pat.
I voted for Pat back in the day. He saw what was coming, was ahead of his time. Unfortunately, America was blind at the time.
It ain’t dead yet.
While I have always thought highly of Pat I couldn’t vote for him because running third party and given the fact that the press ripped him to shreds even before he ever announced his Presidential runs, he had a slimmer change than did Donald in this election. But I have no doubt he would have been a good one. Just the darn reality for him, much to this nation’s loss.
Free trade to the founding fathers was allowing merchants in the US to trade, without government restraint, with merchants in any country. Under British rule the British government placed certain countries off limits to colonial merchants, granted exclusive trading rights to some British companies, and restricted the use of foreign ships.
Free trade did not mean the elimination of tariffs. Tariffs and duties primarily funded the federal government until the income tax was passed in the early 1900’s. High tariffs were government policy in the 1700’s and 1800’s to fund the federal government and protect US factories while the nation was industrializing.
Despite high tariffs, American merchants and ships carried on a vigorous trade throughout the world. Yankee clipper ships were frequently seen in foreign ports. Americans exported lumber, fish, textiles, and leather goods. High tariffs were not an impediment to free movement of goods around the world on American ships. During the period from 1865 to 1900, US industry recovered from the ruin of a devastating civil war and grew rapidly resulting in the US developing into the greatest industrial nation in the world by 1900. The US economy flourished under high tariffs. The vibrant middle class formed during this period, the US led the world in technological innovation, entrepreneurship flourished and the standard of living rose dramatically.
Compare with the last 35 year period of reducing tariffs. The US manufacturing base has been decimated with the loss of millions of middle class jobs. Average household incomes have declined except for the wealthiest 1%.
The zero tariff modern free traders insist zero tariffs and open markets drive economic growth. The reality has been, all of that growth has occurred outside the US. There are no credible economic studies demonstrating NAFTA, WTO, CAFTA, and other tariff reducing agreements have delivered a net positive benefit to the US economy. History shows the periods of greatest economic expansion in US history have occurred during periods of high tariffs. Return to prosperity in the US will require the rebuilding of our manufacturing infrastructure. Protectionist tariffs are needed to accomplish this goal.
The founding fathers were much wiser men than the globalists of today. We should follow their example.
I do not see how the so called blue collar Reagan Democrats, who are legion and gave us MI and WI, can coexist in the Republican with the tiny sliver of a minority GOP globalist Free Traitor™ hacks. The are mortal enemies. One group needs to be purged, I say give the numerically insignificant yet over represented globalists the boot.
I don’t know who you are but you’re the best poster on Free Republic. My only complaint is you are gone most of the time.
I recommend that you take a look at the economic literature on the roles of export led industrialization, currency manipulation, and high levels of US taxes and regulations in the decline of US manufacturing. And as a basis for optimism, cheap natural gas due to fracking may radically benefit the cost calculations that underpin US manufacturing while Trump era reforms reduce the regulatory and tax burden.
I have. I suggest you look at the role of global labor arbitrage as the real reason for off shoring. You may learn something.
If I have to choose between sanctimonious Free Traitors&!513 and the Reagan Democrat blue collar workers of America I will choose the legion of Reagan Democrats every time. Really there is no common ground between Free Traitors™ and the protectionist. One has to leave the party. I say the globalist can go pack sand.
In contrast, China's government run financial system channels its citizens' savings into industrialization and infrastructure, while a lack of unions makes the Chinese workforce unusually adaptable -- if often badly exploited. And, to return to a key point, entirely apart from such practices, China's policy of currency depreciation is part of what keeps their labor cheap.
Great article! Buchanan states it brilliantly. I sure hope that Trump and his people read and embrace this.
posted by Mr PeachyKeen
Bump.
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