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The CEO Tuesday lambasted the U.S. government for subsidizing "industries of the 19th century," and exhorted Washington to up spending on R&D that leads to Information Age innovation.
And a big piece of that comes from China subsidizing industries and manipulating currency in a way that gives their exports a competitive edge.
Instead of subsidizing industries that anchor us in the past, we should be investing in the kinds of clean energy solutions that prepare us for the future.
If they surrendered, saying they cannot do the people's will without the Senate and the White House, they could let the Democrats do the work for them; tax the wealthy, stop subsidizing industries like fossil fuel and big farming, rehire some government workers and spend money on social welfare... BINGO!
If they surrendered, saying they cannot do the people's will without the Senate and the White House, they could let the Democrats do the work for them; tax the wealthy, stop subsidizing industries like fossil fuel and big farming, rehire some government workers and spend money on social welfare..
Similar(55)
In South Korea, workers staged a rash of strikes, angry that foreign pressure to open markets and to stop subsidizing industry is undermining their job security.
It is natural for politicians to try to ameliorate this by essentially subsidizing industry locally, said Robert E. Scott, an international economist at the Economic Policy Institute, a liberal policy institute in Washington.
"The goal shouldn't be to simply subsidize industries endlessly, it should be to improve innovation so that the subsidies can phase out over time," he explains.
Mr. Turner cited the loss of nearly two million jobs in the agricultural industry because of the treaty, which benefited highly subsidized industries in the United States like corn to the detriment of Mexican farmers.
Countries that manipulate their currencies, subsidize industries that compete with American businesses or set up barriers to American imports should be slapped with sanctions, as Mr. Reagan repeatedly did even as he pursued trade expansion.
Are we creating another government subsidized industry?
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