Reduce USA's trade deficit, increase our GDP and median wage.
Carlitos Bam-Bam, we all pretend to be logical and objective; but I suspect more often than not we first determine our preferences and goals then rationalize those preferences are correct. Did I objectively determine that the purchasing power of the median wage is the superior gauge of a nations’ middle income earners’ financial condition?
During my upbringing, our family’s financial survival was always critically vulnerable; but I do believe my appreciation of median wage’s economic significance is due to my objective and correct analysis.
I have complete confidence the enactment of Warren Buffett’s concept of Import Certificates, (ICs) would (more than otherwise) be a significantly net benefit to our nation’s gross domestic product, (GDP) due to its method of reducing our trade deficit of goods.
It acts as an indirect but effective subsidy of our exports and more than otherwise and increases both USA’s sum of aggregate imported plus exported goods, and that of our GDP. All of this in turn would be reflect upon USA’s median wage.
Assessing the approximate value of goods in USA harbors, expressed in U.S. dollars is a technical rather than a policy determination. The IC policy grants no policy discretion to any entities, (not even governments). It is not pure free trade but it is absolutely pure free enterprise. No single entity could corner, control or direct our global trade and our aggregate assessed imports could never exceed our exports of such goods. Because all net expenses are paid by USA purchasers of foreign goods, this proposal could not divert government revenues from any other programs that would be of benefit to our nation.
Google wikipedia import certificate
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