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Westlake Legal Group > Posts tagged "Gary Shapiro"

Gary Shapiro: New trade pact with Canada and Mexico deserves quick congressional approval

Westlake Legal Group 694940094001_6086157723001_6086155079001-vs Gary Shapiro: New trade pact with Canada and Mexico deserves quick congressional approval Gary Shapiro fox-news/world/world-regions/canada fox-news/world/trade fox-news/world/global-economy fox-news/world fox-news/us/immigration/mexico fox-news/opinion fox-news/newsedge/international fox news fnc/opinion fnc article 881ba201-2e23-5e57-b1ea-8572e895acef /FOX NEWS/WORLD/GLOBAL ECONOMY/Trade

Congress is back, and while our leaders have a busy session ahead, they should prioritize passing the United States-Mexico-Canada Agreement (USMCA) – the new North American Free Trade Agreement (NAFTA).

Updates to NAFTA are overdue. The original agreement went into effect in 1994 – well before digital tools that shape how we shop, how we play and how we do business existed. Consumers expect to connect with content from anywhere in the globe in a matter of seconds, and companies expect to be able to reach across borders and manage supply chains with the touch of a button.

Our leaders couldn’t have foreseen these developments at the time, but failing to take them into account now would fail consumers and entrepreneurs.

BRAD BLAKEMAN: WHY IS CONGRESS HOLDING UP TRUMP’S MEXICO-CANADA TRADE AGREEMENT?

The USMCA includes key provisions for the new digital economy. These include prohibiting tariffs and duties on digital products; paring down restrictions on data flow, the transmission of data across borders; and prohibiting forced data localization – the technical name for when a country demands that foreign companies seeking to do business abide by their own laws on data flow.

All must work quickly and hard to move new NAFTA forward. The U.S. trade representative should work with Congress on outstanding questions including clarifying the auto content and value requirements.

Perhaps the most important provision, however, is Article 19.17. Modeled on Section 230 of the U.S. Communications Decency Act, it extends the commonsense provisions of that law to our trade partners. The article states that speakers – not the platforms they use – are liable for any illegal or inflammatory content. It sounds obvious enough – but without it, we wouldn’t have seen the huge growth of the U.S. technology industry over the decades since NAFTA.

According to the Consumer Technology Association, the U.S. has done well in promoting a culture of innovation, producing 133 unicorns – companies with a market value greater than $1 billion – between 2009 and 2018 alone. If platforms were liable for every inflammatory email, tweet or post sent via its channels, many of the services that enhance our daily lives wouldn’t exist.

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America is home to the world’s most dynamic Internet economy, and our online platforms are the frontrunners in business, communications and entertainment. Our political leaders need to ensure our Internet technology remains the technology of choice around the world. Thanks to the USMCA, we have a key opportunity to keep North America the best place in the world to develop talent and build companies.

Economic freedom in the U.S., Canada and Mexico has increased since the 1994 NAFTA, including higher per capita incomes, and regional trade among our three countries reached more than $1.1 trillion in 2016. But ratifying the new NAFTA is also a matter of principle. As a nation committed to being a beacon for the best and brightest, to creating a haven for innovation and ingenuity, it’s our duty to lead the way on free trade.

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Beyond the economic rationale, the new NAFTA will help our nation’s physical security by aligning us even more closely with our neighbors. We’re blessed by geography and proximity.

The United States has two oceans to our east and west, and two friendly countries immediately to our north and south. But we need to maintain that strong relationship with Canada and Mexico. This agreement and the partnerships it enables will deepen our friendship and our national security, and make our country safer.

Our congressional leaders should lean into that identity, harnessing it to ratify a framework that will secure prosperity and liberty for decades to come.

CLICK HERE TO READ MORE FROM GARY SHAPIRO

Westlake Legal Group 694940094001_6086157723001_6086155079001-vs Gary Shapiro: New trade pact with Canada and Mexico deserves quick congressional approval Gary Shapiro fox-news/world/world-regions/canada fox-news/world/trade fox-news/world/global-economy fox-news/world fox-news/us/immigration/mexico fox-news/opinion fox-news/newsedge/international fox news fnc/opinion fnc article 881ba201-2e23-5e57-b1ea-8572e895acef /FOX NEWS/WORLD/GLOBAL ECONOMY/Trade  Westlake Legal Group 694940094001_6086157723001_6086155079001-vs Gary Shapiro: New trade pact with Canada and Mexico deserves quick congressional approval Gary Shapiro fox-news/world/world-regions/canada fox-news/world/trade fox-news/world/global-economy fox-news/world fox-news/us/immigration/mexico fox-news/opinion fox-news/newsedge/international fox news fnc/opinion fnc article 881ba201-2e23-5e57-b1ea-8572e895acef /FOX NEWS/WORLD/GLOBAL ECONOMY/Trade

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Gary Shapiro: Trump should do these things to boost our economy

Westlake Legal Group 694940094001_6056758431001_6056755620001-vs Gary Shapiro: Trump should do these things to boost our economy Gary Shapiro fox-news/us/economy fox-news/politics/2020-presidential-election fox-news/opinion fox news fnc/opinion fnc article 845ea512-b8bc-5bdc-bb6b-5e1d5792c487

President Trump’s biggest challenge for reelection may not be the eventual Democratic nominee – it’s an economy with record expansion that is starting to slow.

The nation’s last two one-term presidents, George H.W. Bush and Jimmy Carter, lost their reelection efforts during economic downturns. President Bush faced an economic recession that forced him to raise taxes, and President Carter took office with the global economy in a downward spiral.

Today, signs are pointing to another economic slowdown. The auto industry is facing flat sales, with Americans buying roughly the same number of cars this past June as they did in June 2018. Some of this may be due to the president’s actual and threatened tariffs on cars and steel, which have not helped sluggish sales. Americans are also increasingly delinquent on their auto payments, a potential early sign of an economy in distress as total debt continues to rise.

PROMISED RUST BELT RENAISSANCE POSES RISK FOR TRUMP REELECTION

The stock market is volatile, and nearly half of United States chief financial officers predict a recession in the first half of 2020. The Trump administration’s 25 percent tariffs imposed on Chinese imports, the threat of tariffs on Mexican imports, new tariff threats on Vietnam and fights with our allies have U.S. business leaders concerned. Our own government is prompting expensive supply chain shifts, while businesses waste time on crisis management, contingency planning and lawyers.

In addition, the president continues to assail our world-leading Internet businesses instead of treasuring and treating them as America’s crown jewels. Time and resources used to fend off attacks from our own government mean less time for innovating, building value and creating U.S. jobs.

Many business leaders are afraid to express concerns about this volatility, as they fear retaliation directly and indirectly by the president. The example of the former British ambassador to the U.S. – publicly demeaned by the president for doing what his job demanded and, ultimately, resigning his post – was not lost on anyone. It’s true that several Trump administration policies, such as reforming tax law and loosening oppressive rules, have spurred huge economic growth, stock market gains and business success.

Presidents often claim credit – or deflect blame – for economic swings. But there is no question the Trump administration deserves credit for the last two years of strong growth. For example, in his eight years as president, Barack Obama earned credit for modest growth, fueled mostly by the U.S. becoming a leader in oil production through fracking and natural gas exports.

But just as Trump deserves credit for the strong economic growth, he may also be blamed for the next recession, given his volatility on tariffs and unconventional global relationships. The “Trump Recession” may be part of the natural business cycle, but threats of tariffs and volatility in global trade relationships will certainly be contributing factors.

Given Trump’s intense focus on the Federal Reserve, he must realize that, to paraphrase candidate Bill Clinton’s campaign, “It’s the economy, stupid.” One of the last remaining tricks to pump up the economy is a drop in interest rates, which Trump clearly wants to happen before the next election. Lowering the cost of debt will not only prop up the economy in the short term, but as global interest rates fall, the cost of servicing the $22 trillion debt will fall slightly.

Another strategy Trump could deploy, which is advocated for by Americans for Tax Reform head Grover Norquist, is unlocking cash in the market and freeing up the income of asset-holding Americans by indexing capital gains to inflation

In other words, no gain would be taxed for long-held stocks, land or assets unless the gain from purchase exceeds the inflation rate during the holding period. Norquist makes a compelling argument for this plan, noting the Department of the Treasury has the regulatory authority to add an inflation adjustment to the calculation of capital gains taxes. Also, this strategy doesn’t require a vote by Congress or a Congressional Budget Office score.

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If the president took Norquist’s recommended action, already supported within the administration, the stockholders would likely act quickly as they would be uncertain about whether a Democratic president would undo this action. This would have a strong, positive – and immediate – impact on the economy, benefiting millions of Americans with money in assets. The market would see huge transactions, Americans would receive investable or spendable income and the economy would have an infusion of unlocked cash.

The president has an opportunity to boost the economy. If he kills the tariffs, gets his Federal Reserve choices and indexes asset-taxable gains to inflation, he can spur economic growth through 2020. Otherwise, he will deal with a slowing economy and an increasingly concerned electorate.

CLICK HERE TO READ MORE BY GARY SHAPIRO

Westlake Legal Group 694940094001_6056758431001_6056755620001-vs Gary Shapiro: Trump should do these things to boost our economy Gary Shapiro fox-news/us/economy fox-news/politics/2020-presidential-election fox-news/opinion fox news fnc/opinion fnc article 845ea512-b8bc-5bdc-bb6b-5e1d5792c487  Westlake Legal Group 694940094001_6056758431001_6056755620001-vs Gary Shapiro: Trump should do these things to boost our economy Gary Shapiro fox-news/us/economy fox-news/politics/2020-presidential-election fox-news/opinion fox news fnc/opinion fnc article 845ea512-b8bc-5bdc-bb6b-5e1d5792c487

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Gary Shapiro: College admissions scandal highlights fundamental flaws in higher education

Westlake Legal Group ContentBroker_contentid-b5e3d127f7454d0fae346be5184b1181 Gary Shapiro: College admissions scandal highlights fundamental flaws in higher education Gary Shapiro fox-news/us/education fox-news/us/economy/jobs fox-news/topic/college-admissions-scandal fox-news/opinion fox news fnc/opinion fnc article 3afaa769-4532-5e4f-8fbf-4dd0192c4142

Our Constitution, democracy and culture are based on individual liberty, competition and rewards for those who fairly achieve and succeed. The wealthy parents who paid for fake test scores or bribed coaches to get their kids into elite schools don’t seem to understand that concept.

The silver lining of the 2019 college admissions scandal is it shed a bright light on how we subsidize higher education. College is the measurable exit ramp from poverty to realizing the American Dream. And so our federal funding, including subsidized loans and approach to education should be fair, transparent and strategic. The average four-year college graduate makes 65 percent more annually than someone with a high school degree.

If education is society’s escape valve from poverty, then access to it should be our priority.

MARK GAUTHIER: GET YOUR ROADMAP READY, GRADUATES

Some politicians and academics advocate for universal free college education and erasing student debt, but these are irresponsible, politically motivated giveaways. They would penalize those who worked to pay for school and balloon our federal debt. Our cupboard is bare, as spending on existing entitlements and interest will soon squeeze all federal discretionary spending, including the amount we spend on education today.

We have to start spending smarter.

The college admissions scandal has highlighted an educational system favoring the wealthy and falling short in raising up the poor.

One idea is to tie federal money going to education to better behavior by colleges and universities. Admissions officers should weigh more heavily the potential, moxie, obstacles overcome and the socioeconomic status of student applicants. They should move away from admitting applicants based mostly on their parents’ alumni status or donations.

Here are four ways we can ensure our federal investment in education creates a fairer country, a stronger economy and more skilled workforce:

Every college receiving federal funds must have transparent admission policies and reserve a big portion of incoming slots for students who come from lower socioeconomic backgrounds. Likewise, a sizable portion of athletic and academic scholarships should go to students from lower socioeconomic families. Legacy slots should be reduced or eliminated.

Student loans should have interest rates correlating with the need in the workforce for the resulting degree, with lower interest rates for in-demand degrees. This would discourage students from entering careers for which there are few jobs.

Colleges should guarantee a portion of loan repayments to the federal government. This free market approach would discourage worthless degrees, cut student loan losses and free up money for more strategic educational investments.

Community college and technical training programs should be equilibrated with university degrees — both in funding and cultural value. As a nation that needs more skills-based learning, we must value other educational pathways equally.

The business community must stand up, too, and provide the training necessary for tomorrow’s jobs. Technology is rapidly changing job demands, causing a huge skills shortage in this country and causing concerns about technology replacing drivers and other workers. Students just out of high school or those exiting the military must be able to join a company and learn new-collar skills while also getting paid — and be almost guaranteed a well-paying job in a relatively short period of time.

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The White House initiative championed by Ivanka Trump to train, hire or reskill existing workers for the new technology-centric workforce is critical. Many companies in the technology industry have committed to hire, train or reskill some two million Americans in the next five years.

The college admissions scandal has highlighted an educational system favoring the wealthy and falling short in raising up the poor. Our nation and our economy now need workers with different skills — and if we don’t transform and innovate, our nation and our children will fall behind.

CLICK HERE TO READ MORE BY GARY SHAPIRO

Westlake Legal Group ContentBroker_contentid-b5e3d127f7454d0fae346be5184b1181 Gary Shapiro: College admissions scandal highlights fundamental flaws in higher education Gary Shapiro fox-news/us/education fox-news/us/economy/jobs fox-news/topic/college-admissions-scandal fox-news/opinion fox news fnc/opinion fnc article 3afaa769-4532-5e4f-8fbf-4dd0192c4142  Westlake Legal Group ContentBroker_contentid-b5e3d127f7454d0fae346be5184b1181 Gary Shapiro: College admissions scandal highlights fundamental flaws in higher education Gary Shapiro fox-news/us/education fox-news/us/economy/jobs fox-news/topic/college-admissions-scandal fox-news/opinion fox news fnc/opinion fnc article 3afaa769-4532-5e4f-8fbf-4dd0192c4142

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Why CES is important to Washington

Each January, hundreds of federal, state and local government officials travel to CES – the world’s largest and most influential tech event – to share insights, debate policy and develop a leadership approach that will sustain our country for decades to come.

Westlake Legal Group 694940094001_5705967759001_5705955052001-vs Why CES is important to Washington Gary Shapiro fox-news/tech/topics/big-tech-backlash fox-news/tech/technologies fox-news/opinion fox news fnc/opinion fnc article 9e76cf02-6565-5b01-86e8-c4dab0f0be69

Real Estate, and Personal Injury Lawyers. Contact us at: https://westlakelegal.com