Friday, October 25, 2002
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Friday, October 25, 2002 |
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Collins speaks to Fayette Realtors In a speech Tuesday to area Realtors, U.S. Rep. Mac Collins outlined his plan for economic recovery and job creation, calling for reform of specific tax measures which handicap American business and workers. Collins discussed, with members of the Fayette Board of Realtors at its general membership meeting at WhiteWater Country Club, how economic growth, prosperity, and stimulus must include job creation. "We have seen all too often how oppressive taxation has led to a disincentive for investment in our economy and a loss of jobs," said Collins. "We have to level the playing field so that American workers can be competitive in the global marketplace, which we are in." Citing double taxation of stock dividends, onerous alternative minimum taxes for individuals and employers, counterintuitive depreciation schedules, and tax code provisions which penalize American-based business which have revenues generated by foreign sales, American business is disadvantaged in competing with foreign companies who are not penalized by similar tax codes. In addition to punitive tax codes, the U.S. is also at a disadvantage because of a lack of trade commitments with other countries. Collins cited the recent enactment of Trade Promotion Authority as an opportunity to expand economic investment and job growth in this country. "There is an American worker on an assembly line making a product that they hope to sell to a customer in the U.S. or overseas. On an identical assembly line in another country, there is another worker making a very similar product to sell to the same customer. Because of our tax codes, and a lack of trade agreements, the American worker is at a disadvantage," Collins explained to the approximately 150 attendees. "All of the taxes are added to the price of the product and because foreign nations do not have similar tax provisions, they can sell their products for less than American businesses. This holds back growth our economy needs in order to create new jobs." To eliminate this disadvantage, Collins suggested major tax reform to allow business to compete on a level playing field with foreign competitors. In addition, giving President Bush the authority to negotiate fair trade agreements with other countries will provide many new growth opportunities here at home. "Most other nations already have trade agreements with other industrialized nations," Collins said. "This allows them to export their products with lower tariffs, underselling American companies because we lack similar agreements. By allowing the President to negotiate trade agreements, we will not only export more American products, we can grow business and create jobs." "It's all about jobs. Jobs come from profits. Profit has become a dirty word in Washington. Many people think that if a business is profitable it is because the employees are crooked or greedy. But, profits are what pay wages, they pay for health benefits, they pay for retirement plans and 401(k) plans, and they allow business to grow and create new jobs. Without profits, there is no economy," Collins said. Collins has been traveling around the Third District this week, meeting with local officials, business leaders, and residents. He spent Monday at the groundbreaking of the 475-acre Griffin Spalding Reservoir, discussing many of the same themes with the gathered local officials. He met Tuesday with city leaders in Locust Grove, McDonough, and Stockbridge. Wednesday's stops included LaGrange, Pine Mountain, and Hamilton, and after a Thursday trip to Columbus, his Friday scheduled included Talbot, Upson, and Meriwether counties.
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